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Our expert team specializes in supporting Canadian small businesses and corporations through their tax planning, highlighting the lower tax rates achievable through incorporation.
We provide comprehensive guidance, determining the ideal moment for your business to transition to an incorporated model, ensuring it aligns with your strategic goals and financial health.
Incorporation is a detailed legal and tax process that involves registering with the appropriate provincial or federal authorities, setting up a separate corporate tax account with the Canada Revenue Agency (CRA), and meeting ongoing compliance obligations. These include annual filings and corporate tax returns.
It’s essential to consult with legal and tax professionals to ensure your incorporation strategy aligns with your business goals while meeting all regulatory requirements.
At Eternity Consulting, our low-price threshold offers competitive, transparent rates for:
Incorporation
Individual tax preparation
Bookkeeping services
These are available either as one-time services or as part of a monthly subscription plan. We also help with closing corporations, ensuring a smooth process and reducing the hassle of unwanted CRA notices.
Our personalized tax preparation service is designed to help you maximize savings while understanding your unique financial situation. By getting it right from the beginning, this initial step sets the stage for future investment strategies and financial growth.
Every corporation in Canada—whether active or inactive, including non-profits and tax-exempt entities—is legally required to file a T2 corporate tax return each year. There are no exceptions.
Even non-resident corporations must file a T2 return if, at any point in the year, they:
Carried on business in Canada
Had a taxable capital gain
Disposed of taxable Canadian property
Still losing sleep over incorporation rules and tax forms? You could try reading the Income Tax Act—it’s so dry it might just knock you out.
Or, you could work with the experts at Eternity Consulting, where your tax worries disappear—and restful nights return.
Have questions about your taxes, business finances, or long-term financial goals? We’re here to help. Whether you’re ready to get started or simply exploring your options, our team at Eternity Consulting is happy to offer expert guidance tailored to your needs.
Fill out the form and one of our advisors will be in touch within 24 hours. Because financial peace of mind starts with a conversation.
We help businesses and individuals navigate taxes with ease and accuracy.
Our expert strategies save you time, reduce stress, and maximize savings.
Corporate tax obligations can be complex, especially with changing regulations and deadlines. Our goal is to make it easier for business owners to understand their responsibilities and stay compliant. Whether you’re starting a new corporation or managing an established one, our FAQ section addresses common concerns related to filing, payment timelines, incorporation, and tax strategies in Canada.
Still have questions? We’re just a call or message away.
Every corporation in Canada—whether active, inactive, non-profit, or tax-exempt—is required to file a T2 Corporate Income Tax Return each year. The return is due six months after the end of your corporation’s fiscal year, even if there’s no tax payable. However, any balance owing is typically due within 2 or 3 months after the year-end, depending on your corporation’s structure. Filing late may result in penalties and interest.
Taxable Canadian Property refers to specific types of property such as real estate located in Canada, shares in private Canadian corporations, resource properties, and certain business assets. Non-residents may be required to report and pay tax on gains from disposing of these properties. It’s important to review the tax implications of any sale involving Canadian property—even if you’re not a resident.
If your corporation owes income tax, the balance is generally due within 2 or 3 months after the end of your fiscal year:
2 months: for most corporations
3 months: for Canadian-controlled private corporations (CCPCs) that meet certain conditions (e.g., small business deduction eligibility)
Paying late may result in interest charges and penalties, even if you file your T2 return on time. To avoid extra costs, it’s best to pay your taxes by the due date, even if you’re still finalizing your return.
