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CRA Notices for Corporations Explained

September 30, 2026 | Florin Dumitrescu
CRA Notices for Corporations Explained Receiving a letter from the Canada Revenue Agency does not automatically mean that your corporation is being audited. The CRA routinely contacts businesses to confirm the processing of a return, request supporting documents, report an account balance or explain an adjustment. A CRA letter should never be ignored, however. Some [...]
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Filing Corporate Taxes in Multiple Provinces in Canada

September 27, 2026 | Florin Dumitrescu
Filing Corporate Taxes in Multiple Provinces in Canada A Canadian corporation may serve customers throughout the country without becoming subject to corporate income tax in every province. Its filing obligations depend primarily on where it has a permanent establishment and how its taxable income must be allocated among those jurisdictions. Understanding this distinction is essential [...]
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Permanent Establishment Rules in Canada for Corporate Tax

September 27, 2026 | Florin Dumitrescu
Permanent Establishment Rules in Canada for Corporate Tax A Canadian corporation can do business in several provinces without necessarily having a permanent establishment in each one. Conversely, a corporation may create a permanent establishment without formally opening a branch or leasing a conventional office. This distinction matters. The permanent establishment rules for corporate tax in [...]
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Corporate Tax Deadlines You Should Never Miss in Canada

September 23, 2026 | Florin Dumitrescu
Corporate Tax Deadlines You Should Never Miss in Canada Corporate tax filing and corporate tax payment are separate obligations in Canada. They usually have different deadlines, and confusing the two is one of the easiest ways for a business to incur avoidable interest and penalties. A corporation may have six months after its fiscal year-end [...]
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How to Amend a T2 Corporate Tax Return

August 16, 2026 | Florin Dumitrescu
How to Amend a T2 Corporate Tax Return in Canada Filing a corporate tax return does not always mean the numbers are final. A corporation may later discover a missed expense, unreported income, an incorrect tax schedule, or financial information that needs to be corrected. Fortunately, a previously assessed T2 return can generally be changed [...]
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CRA Reassessment Process for Corporations

August 16, 2026 | Florin Dumitrescu
CRA Reassessment Process for Corporations Filing a T2 Corporation Income Tax Return does not necessarily mean that the tax year is permanently closed once the Canada Revenue Agency issues the original Notice of Assessment. In certain circumstances, the CRA can review the return again and issue a Notice of Reassessment that changes the corporation’s tax, [...]
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Corporate Tax Compliance Checklist Canada

August 16, 2026 | Florin Dumitrescu
Corporate Tax Compliance Checklist Canada Corporate tax compliance in Canada involves much more than filing one income tax return each year. An incorporated business may have to manage its T2 return, corporate tax instalments, GST/HST, payroll deductions, information slips, provincial filings, and annual corporate-law requirements. Missing an obligation can lead to interest, follow-up from tax [...]
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Late Corporate Tax Filing Penalties in Canada

August 14, 2026 | Florin Dumitrescu
Late Corporate Tax Filing Penalties in Canada: What Corporations Need to Know Missing a corporate tax deadline can become expensive surprisingly quickly. A late T2 return may result in penalties, daily compound interest on unpaid taxes, delayed refunds or tax credits, and increased CRA compliance attention. The consequences can be even more serious when several [...]
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What happens after you file a T2 return

July 25, 2026 | Florin Dumitrescu
What happens after you file a T2 return in Canada? Filing the corporation income tax return is an important year-end milestone, but it does not always complete the corporate tax process. After the Canada Revenue Agency receives the T2 return, it must process the information, assess the corporation’s tax position and update its corporate income [...]
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T2 Schedules Explained: A Beginner’s Guide

July 24, 2026 | Florin Dumitrescu
T2 Schedules Explained: Beginner-Friendly Guide When a business owner reviews a corporate tax return for the first time, the number of forms attached to the return can be surprising. The main T2 Corporation Income Tax Return only tells part of the corporation’s tax story. Detailed calculations involving financial statements, shareholders, tax losses, dividends, investment income [...]
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