Corporate tax is filed each year that the business is operating. The corporate tax return is to be filed within three (3) months of the business year-end if a balance is due for tax.
If you have recently become incorporated, your company is permitted to pick your year-end date. The first year-end can be less than twelve (12) months but can not exceed twelve (12) months.
When preparing the yearend work up, to prepare the Corporate Tax Return you need to supply:
- Incorporation Certificate
- Copy of Share structure
- Full name, address and SIN # for all directors, shareholders and / or partners
- Yearly records for review
- All GST, Source Deduction Remittances, Employee T4's, and T4 Summary
- All bank statements for the year, including following month
- Visa Statements
- Mileage logs for business
- All documentation on leases, loans, company investments, etc.
- Minute book
- Prior year Corporate Tax Return
- Year-end journal entries from prior year including Trial Balance
Note: Other information maybe required as the file prepared