Corporate Tax Accounting
T2 corporate returns, year-end reporting, GST/QST filings and tax instalments for incorporated businesses in Montréal and across Québec.
A Canadian corporation files a federal T2 within six months of its fiscal year end, and a Québec CO-17 with Revenu Québec if it has a permanent establishment in the province. The balance is due earlier than the return — two months after year end, or three for an eligible CCPC.
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Key facts
| Returns filed | Federal T2; Québec CO-17 where there is a permanent establishment in Québec |
|---|---|
| Filing deadline | Six months after fiscal year end |
| Payment deadline | Two months after year end; three for a CCPC claiming the small business deduction |
| Nil years | A return is required every year the corporation exists, including inactive years |
| Authorities | Canada Revenue Agency and Revenu Québec |
A&S Financials prepares and files T2 corporate income-tax returns, year-end financial statements and GST/QST returns for corporations of every size. We keep your company onside with both the CRA and Revenu Québec, calculate instalments, and flag planning opportunities before your year-end closes. Every file is overseen by a Chartered Professional Accountant, so you get more than compliance — you get an advisor who understands how your corporate structure, compensation and transactions affect the tax you pay.
Book a consultationWhat we offer
- T2 federal and CO-17 Québec corporate returns
- Year-end financial statements and working papers
- GST/QST registration, filing and reconciliation
- Corporate tax instalment calculations
- CRA and Revenu Québec correspondence
- Salary-versus-dividend compensation planning
The filing deadline and the payment deadline are different dates
Six months to file, but two or three months to pay. Interest runs from the payment date, not the filing date, so a corporation that files on time at the six-month mark without having paid at the two- or three-month mark still owes interest. In practice the tax has to be estimated before the return is finished. For a corporation with a stable result that is straightforward; for one with a volatile year it means a genuine forecast, and paying a little more than expected costs less than the interest on a shortfall. Instalments add a second layer. Most corporations pay monthly; eligible CCPCs with a clean compliance history can pay quarterly.
Québec is a separate calculation, not a copy of the federal return
Most figures carry across from the T2, but the CO-17 is its own assessment. Québec sets its own rates, its own conditions for the small business rate — including a minimum paid-hours test with no federal equivalent — and its own credits, which are among the more generous in Canada for research and development. A corporation can therefore qualify for the small business rate federally and be assessed at the general rate provincially in the same year. That is worth confirming before the year end rather than discovering at filing. A corporation operating in more than one province also allocates taxable income among them using a formula based on payroll and gross revenue by establishment. Opening an office outside Québec mid-year is a frequent source of allocation error.
Frequently asked questions
My corporation had no activity. Do I still file?
Should I pay myself salary or dividends?
What is a shareholder loan and why does my accountant keep raising it?
Do you handle the annual registration with the Registraire?
When should a holding company be considered?
Speak with a Montréal CPA
Contact us to discuss your accounting and tax needs — in the language you prefer.