Do I need to file a corporate tax return if has no income?
As per CRA; All corporations (resident corporations) — including non-profit organizations, tax-exempt corporations, and inactive corporations — have to file a T2 return for every tax year, even if there is no tax payable. The only exceptions to this rule are tax-exempt Crown corporations, Hutterite colonies, and corporations that were registered charities throughout the year.
So all the resident corporations need to file a T2 even if they have no income or no tax payable (except the above exceptions)
So how do I file a zero corporate tax return in Canada?
You can talk with your accountant to guide you on how to file a nil return for you. We can file a nil return for you if your corporation. You can contact us and we will let you know if we can file it for you and what are the next steps.
Otherwise, you can use CRA T2 forms, fill them, and send them to CRA.
You can use paper returns for nil return (Zero corporate tax return). You need to send your S100, S125, S50, and other neccessary forms and send them by paper.
Filing by Paper is also available by CRA.
Can I use Abraham Accounting for nil return filing?
We file electronically nil returns for our clients, so it is faster and easier for them to file nil returns. You can contact us if you have a nil return for your corporation that needs to be filed. Or you can log in to our client portal, create an account for yourself, and let us know about your corporate zero return.
How much does it cost to me for nil return filing by Abraham Accounting?
The exact cost may vary based on the complexity of your business structure, any additional forms required, and the specific services you may need.
But in general, our fees typically range from $150 to $250 for most situations. The exact cost may depend on your business structure and specific requirements. We pride ourselves on transparent pricing. Feel free to contact us for a detailed quote tailored to your needs.
You can log in to our client portal, create an account for yourself, and let us know about your corporate zero return.
