Corporate tax return preparation and filing
Full preparation and CRA filing of your corporate tax return. We review every schedule, confirm all deductions are captured, and file on time. Includes compilation financial statements where required.
Services
Corporate tax
Filing a corporate tax return is the baseline. Building a corporate tax strategy around your life, your goals, and your long-term structure is where the real value begins.
Serving clients in Manitoba and across Canada.
T2 filing · Year-end planning
Who this is for
Incorporated business owners
Every corporation in Canada is required to file a corporate tax return annually. What separates a reactive filing from a real tax strategy is what happens throughout the year leading up to it. As corporate tax accountants serving business owners, we work with you at every stage, from newly incorporated sole professionals to multi-entity structures.
- Medical Professional Corporations
- Incorporated professionals & consultants
- Small business owner-managers
- Holding companies & investment corporations
- Real estate corporations
- Newly incorporated businesses
For Medical Professional Corporations and incorporated health professionals, see our Healthcare Professionals page.
For incorporated consultants, lawyers, and business owners, see our Business Owners page.
9%
Manitoba's combined small business tax rate (varies by province) on the first $500,000 of active corporate income.
9%Retained and invested inside the corporation
50%+Paid out personally at the top rate
Why it matters
Compliance is the floor. Strategy is where the real value is.
The difference between a firm that files your return and a firm that plans around it shows up in your net worth over time, not on any single tax return.
Every dollar retained inside the corporation at 9% and invested compounds at a fraction of the cost of paying it out personally at over 50%. The compounding effect over a career is substantial.
A corporate tax return prepared without a year-end conversation is a missed opportunity. We connect with incorporated clients at their year-end to review compensation structure, retained earnings, and finalize any transactions when the books close.
What we do
Corporate tax services
Year-end tax planning
A conversation at your corporate year-end to review compensation structure, bonus timing, retained earnings, and finalize any transactions when the books close. This is where the real planning happens. Once year-end is complete, we send legal confirmation letters directly to your lawyer to ensure dividends are properly documented in the corporate minute book.
Owner-manager compensation planning
Salary versus dividends modelled to your specific situation every year. RRSP room, CPP, personal spending needs, family income, and long-term retirement all factored in to find the most tax-efficient split for you and your corporation.
GST/HST preparation & filing
Annual, quarterly, or monthly GST/HST returns prepared and filed on time. We reconcile your GST account, review input tax credits, and ensure your filing frequency matches your revenue level.
T4 & T5 slip preparation & filing
Preparation and CRA filing of T4 employment income slips and T5 dividend income slips for all shareholders and employees. Filed on time with copies provided for your personal return.
Financial statements
Financial statements prepared alongside your corporate tax return where required by your bank, landlord, or for internal planning purposes.
Shareholder loan management
Shareholder loans that are not repaid or properly structured within the CRA's rules create taxable income. We track shareholder loan balances and ensure they are resolved correctly before filing.
Corporate tax instalment planning
If your corporation owes more than $3,000 in federal tax, quarterly instalments are required. We calculate your instalment obligations and help you manage cash flow around them so there are no surprises.
Want a corporate tax strategy, not just a return?
Book a consultationFrequently asked questions
Questions about corporate tax in Manitoba
Deadlines, shareholder loans, and what happens if you miss a filing.
Ask us directlyWhen is my corporate tax return due?
Your T2 corporation income tax return is due six months after your corporate year-end. If your year-end is December 31, your T2 is due June 30. If your year-end is March 31, your T2 is due September 30. However, any taxes owing are due two months after your year-end for most corporations, or three months after for certain Canadian-controlled private corporations that claim the small business deduction.
What is a shareholder loan and why does it matter?
A shareholder loan arises when a corporation lends money to a shareholder, or when a shareholder takes money out of the corporation without it being classified as salary or dividends. Shareholder loans are not automatically taxable, but the CRA has strict rules about how they must be handled. If a loan to a shareholder is not repaid within one year after the end of the corporate tax year in which it was made, the full amount is included in the shareholder's personal income for that year. There are exceptions, but they require proper documentation and structuring. Keeping shareholder loan balances current and resolving them correctly is one of the most commonly mishandled areas in owner-managed corporations.
What happens if I miss my corporate tax filing deadline in Canada?
If you file your corporate tax return after the deadline, the CRA charges a late filing penalty based on the unpaid tax owing, plus interest that accrues on any unpaid balance from the date it was due. If your corporation has no tax owing, there is no late filing penalty, but the return should still be filed on time to avoid any compliance issues. If you have missed a filing deadline, the best course of action is to file as soon as possible to stop penalties from accumulating, and to make sure any balance owing is paid promptly to minimize interest charges.
Ready to get more out of your corporation?
Book a consultation and we will walk through your corporate structure, your year-end timing, and what a proactive tax strategy looks like for your specific situation.