Corporation Tax

The initial step involves registering your company with Canada Revenue Agency (CRA) using their official documentation to establish your corporation tax liability.

Companies subject to corporation tax must determine their profit for each accounting period and calculate the corresponding tax obligation. This information requires submission to the CRA via a corporation tax return form, accompanied by supporting accounts and tax computations.

The CRA enforces strict penalties for delayed filings and charges interest on overdue tax payments, making adherence to deadlines — determined by your company's annual accounting date — critical.

TaxAssist Accountants offers support with company account preparation, corporation tax return filing, and tax computation development. Our team also provides advisory services regarding tax planning strategies that may create advantages for you and your business.