WEALTHY WAVEACCOUNTING INC.Let’s talk Year-end, brought together
Wealthy Wave Accounting is a corporate tax accountant in Brampton for small and owner-run businesses: T2 returns and year-end, GST/HST, payroll and CRA letters, from our office at 181 Queen St E. A T2 is due six months after your year-end, with any tax owing usually due two or three months after it, so we plan your dates and your number ahead of time.
Brampton · GTA · Virtual support across Canada
CORPORATE TAX IN BRAMPTON, ANSWERED
For most small corporations in Brampton it comes down to five jobs: the year-end and T2 return, GST/HST returns, payroll remittances and T4s, the Ontario annual return, and answering CRA letters. We handle all five from our office at 181 Queen St E, Unit 5, or by Teams if that suits you better. Here is what each one involves.
Six months after your fiscal year-end. A corporation with a 31 December year-end files by 30 June. The tax itself is due earlier: two months after year-end for most corporations, or three months for a Canadian-controlled private corporation that qualifies for the small business deduction.
Ontario corporate tax goes on the same T2 (Schedule 500), so there is one return, not two. We put both dates on your calendar at the start of the year.
Yes. Every resident corporation files a T2 every year, even with no income, no tax owing and no activity. Missing returns lead to CRA demand letters and penalties, and they get harder to sort out the longer they sit.
If you have a year or two behind, tell us on the first call. We list what's missing and file the oldest first.
Once your taxable sales pass $30,000 over four calendar quarters in a row, you have to register. In Ontario you charge 13% HST and claim back the HST you paid on business costs as input tax credits.
Returns are monthly, quarterly or annual depending on your sales. We reconcile HST to the books each period, so the year-end numbers already agree.
If the corporation pays you or anyone else a salary, it deducts CPP, EI (not for most owners holding more than 40% of the voting shares) and income tax, and sends it to CRA. Most small employers remit by the 15th of the next month.
T4 slips and the summary are due by the last day of February. We run this with you, or check the numbers your payroll app produces.
Not any more. Ontario corporations file their annual return separately through the Ontario Business Registry, within six months after the corporation's anniversary date. It's short, but missing it for years can lead to the corporation being dissolved.
Federal corporations file their annual return with Corporations Canada instead. We tell you which one applies to you.
Read the date first. Review letters and requests for records give you a deadline, often 30 days. Don't ignore it, and don't send everything you have.
Once you authorize us through CRA's Represent a Client, we read the request, pull only the records it asks for, and reply on the corporation's behalf. Bring the letter to your first call.
General information only, current as of October 2026. Rules change and every corporation is different, so we confirm your own dates and filings with you before anything is filed.
How it works
Exactly what happens after you get in touch, starting with one 15-minute call.
A free, no-obligation 15-minute call on Teams or at our office at 181 Queen St E, Brampton.
We look at your year-end, your last T2 and what is still open, and map your filing and payment dates.
One checklist of what we need. We reconcile the accounts first, then prepare the T2 and schedules.
We go through the result with you: what drove the tax and what could change next year.
Pick a 15-minute slot that suits you. We confirm the time and scope with you directly.
Your corporation needs its financial records, shareholder transactions and tax schedules brought together for year-end.
We review the books, prepare agreed adjustments and supporting schedules, and complete the T2 corporate return. The work connects assets, financing, related-company balances, payroll and GST/HST with your filing.
A corporate return supported by organized records, with the information, payments and follow-up actions requiring attention clearly identified.
THE DETAIL BEHIND THE WORK
A T2 return is the corporation’s income tax return, not the owner’s personal return. Preparation connects the financial records to the corporation’s tax reporting. We review the information provided, identify gaps, prepare applicable schedules and discuss the filing position before submission.
Who this is for. For corporations approaching year-end, businesses changing accounting providers, or owners who need help with prior-year or late returns.
Bring together reconciliations, asset records, shareholder transactions and prior-year information.
Prepare the T2, GIFI financial information and applicable supporting schedules within the agreed scope.
Understand what is ready, what requires a decision and which filing or payment dates need attention.
THE WORK, EXPLAINED
The exact work, timing and deliverables are confirmed in your engagement. A service listed here is not automatically included in every package.
HOW WE WORK TOGETHER
We discuss the business, the relevant period or decision, your records and any upcoming deadlines.
We set out the proposed work, information needed, responsibilities and fees before starting.
We work through the agreed tasks, explain findings and keep unresolved questions visible.
We identify the next action and, where relevant, ongoing reporting or review needs.
Corporate tax returns and year-end
These are the year-end problems corporations bring to us, and how each one gets handled.
The T2 return is due six months after year-end, but any balance owing is usually due two or three months after year-end.
We map your filing and payment dates at the start, so the number is known before the money is due.
Every missing document slows the file down and pushes the deadline closer.
You get one list of what we need and when, and we chase the gaps with you.
Unreconciled accounts lead to errors on the return and questions later.
We reconcile the accounts first, so the statements and the T2 tell the same story.
You sign it, but you don't know what drove the tax or what to change next year.
We go through the result with you in plain words, including what could change next year.
Before your year-end, decisions can still change this year's numbers. After it, they can only be reported.
Prefer to write first? Send an enquiry. Or call (647) 606-1824.
General information only. Tax advice is given within an engagement, based on your own records.
ANSWERS BEFORE YOU START
Have a question about your own situation? Let’s discuss it.
Canadian-resident corporations generally file a T2 each tax year even when no tax is payable, subject to the CRA’s exceptions. We review your corporation’s circumstances rather than assuming that no activity means no filing.
They are separate obligations. We identify the relevant dates for your corporation’s tax year and circumstances instead of treating the return deadline as the payment deadline.
We first identify which records and reconciliations are missing. Catch-up work may be needed before a supported return can be prepared.
CONNECTED SUPPORT
A PRACTICAL NEXT STEP
Share the service you need, your business type and any upcoming deadline. We’ll discuss the records, scope and next steps before work begins.
Send it here and a person from our team will get back to you. Or book a free 15-minute call.