Everything You Need To Know About Corporate Tax Return in Canada

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Everything You Need To Know About Corporate Tax
Return in Canada
https//www.maroofhs.com/tax-services-canada/corpo
rate-tax-services-canada/
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Are you incorporated? Great idea! You can access
lower tax rates with your corporation and pay
less tax. For more than ten years, Maroof HS CPA
Professional Corporation has been productively
aiding clients with their Canadian small business
corporate tax needs.
Who need to file a corporate tax return?
All corporations, tax exempt, non-profit and
inactive corporations, needs to file a tax return
every year even if theres no tax payable! Its a
criminal act not to file a corporate tax return.
A non-resident corporation need to file a T2
return if, at any time in the year, it performed
business in Canada, it had a taxable money gain,
or in some scenarios, it disposed of taxable
Canadian property.
When do you need to file your corporate tax
return?
File your corporate income tax return inside 6
months of the end of every tax year. The tax year
of a corporation is its financial period. When
the tax year of the corporation ends on the last
day of a month, file the corporate income tax
return by the last day of the 6th month after the
end of the tax year. When the last day of the tax
year isnt the last day of a month, file the
corporate income tax return by the same day of
the 6th month after the end of the tax year.
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When do you need to pay the corporate income tax
owning?
Corporations need to pay corporate income tax in
monthly or quarterly instalments when the total
of the taxes payable for either the former year
or the present year is more than 3,000. The
balance of tax the corporation owes for a tax
year is due within either 2 or 3 months of the
end of that tax year, depending on the situations
of the corporation. If youre a Canadian
Controlled Private Corporation and are claiming
the small business deduction you can pay 3 months
after your year end. Maroof HS CPA Professional
Corporation can aid your business with tax
efficient solution. We pride ourselves on the
excellent Corporation Income Tax Services we
offer to our valued clients. Feel free to call us
on [phone]!
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You can reach us at 3-100 Hanlan Road,
Woodbridge, ON L4L 4V8 Phone [phone] Emai
l Canada_at_MaroofHS.com https//www.maroofhs.com/c
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