Corporate Tax Returns
Corporate tax return preparation and filing support for Alberta corporations, including the federal T2 return and the Alberta AT1 return where required.
Resident corporations in Canada generally have to file a T2 Corporation Income Tax Return for every tax year, even if there is no tax payable or the corporation was inactive. The T2 return is generally due within six months of the corporation's tax year end. Any balance owing is normally due earlier, generally two months after year end, although some qualifying Canadian-controlled private corporations may have a three-month balance-due date if the applicable CRA conditions are met.
Alberta is one of the provinces where the federal T2 does not serve as the provincial corporate income tax return. A corporation with a permanent establishment in Alberta generally has to file a separate Alberta Corporate Income Tax Return, known as the AT1, unless an exemption applies. Alberta Tax and Revenue Administration administers the provincial return separately from the federal T2 filed with the Canada Revenue Agency.
Corporate tax preparation can involve the T2 return, applicable GIFI financial statement information, capital cost allowance schedules, shareholder and related-party information, loss balances, dividends and other supporting schedules. Where an Alberta AT1 return is required, the provincial filing and applicable schedules also need to be prepared consistently with the corporation's accounting and tax information.
What's Included
- Federal T2 corporate income tax return preparation and supporting schedules
- Alberta AT1 corporate income tax return preparation where required
- GIFI financial statement information and supporting tax schedules
- Capital cost allowance and capital asset continuity review
- Small business deduction and applicable corporate tax considerations
- Loss carryforward and carryback review where applicable
- Electronic filing support and review of applicable filing and payment deadlines
FAQ
Do I still need to file a T2 if my corporation had no income?
Generally, yes. Resident corporations must normally file a T2 Corporation Income Tax Return for every tax year even when there is no tax payable or the corporation was inactive, subject to limited exceptions.
Does an Alberta corporation only file a T2 return?
Not necessarily. Alberta is separate from the federal T2 provincial tax system. A corporation with a permanent establishment in Alberta generally has to file a separate Alberta Corporate Income Tax Return, known as the AT1, unless an exemption applies.
When is a corporate tax return due?
The federal T2 return is generally due within six months of the end of the corporation's tax year. The tax balance may be due earlier, often two months after year end, with a three-month balance-due date available to some qualifying Canadian-controlled private corporations that meet the CRA's conditions.
When does my corporation have to make tax instalments?
Corporations generally do not have to make certain income tax instalments when the applicable tax payable is $3,000 or less for the current or previous tax year. Corporations that do have an instalment requirement generally pay monthly, although some eligible Canadian-controlled private corporations may qualify to pay quarterly.
How long should I keep my corporate tax records?
Business and tax records generally have to be kept for at least six years from the end of the last tax year they relate to. Some records may need to be kept longer because they can affect tax calculations in later years.
Need help with Corporate Tax Returns?
Tell A4SB about your accounting needs and we can discuss the support that may be relevant to your situation.