Corporate Tax Filing Obligations

Below is a summary of some, but not all, of the common corporate tax filing and reporting obligations that may apply.

Corporate Tax (T2)

Every corporation is required to file an annual corporate income tax return (T2) to report income for the fiscal year.

GST/HST

If a corporation is required to register, or chooses to voluntarily register, it must file GST/HST returns to report tax collected and input tax credits, where applicable. Filing frequencies may be monthly, quarterly, or annual, depending on the corporation’s circumstances.

PST

In British Columbia, certain business activities require registration for Provincial Sales Tax (PST). Where applicable, this creates ongoing PST collection and filing obligations.

T4

If salaries or wages are paid to shareholders and/or employees during the calendar year, the corporation is required to file a T4 return. T4 slips and the related summary are due by the end of February of the following year.

T5

Any dividends paid to shareholders during the calendar year must be reported on a T5 return. T5 slips and the related summary are also due by the end of February of the following year.

Please note: Additional filing obligations may apply depending on the corporation’s activities and structure.

Disclaimer
The information provided in this blog post is for general informational purposes only and does not constitute accounting, tax, or legal advice. Tax laws and reporting requirements vary based on individual circumstances and are subject to change. Readers should not act on this information without seeking professional advice specific to their situation. Reading this blog does not create a client‑advisor relationship.