Tax Services | T2 Filling
or non-residents who do not maintain a Canadian bank account, the Canada Revenue Agency (CRA) allows tax payments to be made via international wire transfer. This method is commonly used by foreign corporations, investors, and individuals with Canadian tax obligations. However, wire transfers must follow very specific instructions to ensure payments are applied correctly and…
Read More “How Non-Residents Can Pay the CRA by Wire Transfer” »
The primary payment method for all federal payments issued by the Receiver General is direct deposit. To receive payments by direct deposit, businesses must enroll by providing their banking information. Benefits of Direct Deposit Direct deposit is: Before You Enroll Please have the following information ready (as applicable): How to Enroll To sign up for…
Whether you are an employee arranging vacations or a business preparing staffing schedules and payroll, understanding Canada’s statutory holidays is essential. Canada observes a mix of nationwide federal holidays and provincial/territorial holidays, which means the list of days off can vary depending on where you live and work. This guide provides a clear, updated overview…
Read More “Canada Statutory Holidays 2026: The Complete Guide for Workers and Employers” »
The Canada Revenue Agency (CRA) has released the 2026 tax parameters. Most core items — federal tax brackets, Basic Personal Amount (BPA), CPP, RRSP, and the OAS clawback threshold — will be indexed upward by 2% due to inflation. Although this round of updates represents a small increase, they have a significant impact on take-home…
Read More “2026 Canada Federal Tax Updates — 7 Key Changes vs 2025” »
Corporate taxes in Canada can be complex—but every corporation must file them, even with zero income or zero taxes owing.Accurate T2 filing is essential for remaining compliant with the Canada Revenue Agency (CRA) and for minimizing potential penalties, interest, and audit risks. What Is a T2 Corporate Tax Return? Every corporation that is resident in…
Canadian corporations must annually file Form T106 with the Canada Revenue Agency to disclose transactions with non-residents that have not been conducted at arm’s length. Reporting requirements are triggered for transactions with a value exceeding $1,000,000. What is the T106 Form? The T106 form is an information return that corporations must file with the Canada…
The following instructions are taken from the form. When to use this form We need your permission to deal with a representative. Use this form to give a representative offline access (by phone, fax, mail, or in person) to one or more of the following accounts: If your representative wants to submit documents electronically, do not use this…
Read More “AUT-01 – Authorize a Representative for Offline Access” »
Key Changes from 1 April 2026: Why Is It Changing? What Should You Do Before April 2026? How to Save Your Previous Filings: Free or Low-Cost Filing Options: Software Type Features Cost Taxfiler (IRIS) Commercial CT600 + Company Accounts + XBRL ~£10/month BTCSoftware Commercial Full-featured tax platform From ~£200/year GoSimpleTax Personal For sole traders/self-assessment Free…
Read More “HMRC and Companies House Free Filing Service Ending (Effective April 2026)” »
Starting with tax years beginning after 2023, the Canada Revenue Agency (CRA) requires all corporations, including inactive corporations, to file their T2 Corporation Income Tax Returns electronically. Failure to comply may result in a $1,000 penalty. What Does This Mean for Inactive Corporations? An inactive corporation—one that had no business activity or income during the…
In late November of 2024, the Federal government announced a temporary exemption period from December 14, 2024, to February 15, 2025, for specific items that typically incur GST or HST. Regrettably, this decision was made without thorough consideration prior to the announcement or the introduction of legislation. The projected savings for taxpayers are minimal, while…