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Corporate Taxation Info-Guide
TABLE OF CONTENTS
1. Federal Corporate Tax Information
Business Number (BN)
The BN is a reference numbering system that replaces the multiple numbers businesses required to deal with government. The BN can encompass one or more of the following accounts: Goods and Services Tax, Payroll Deductions, Importer/Exporter account number and Corporate Income Tax.
For further information:
visit the website: The Business Number and Your Canada Revenue Agency Accounts
see the document: Business Number (BN)
T2 Corporation Income Tax Return and the T2 Short Return
The T2 Corporation Income Tax return is a height-page return. The T2 Short is a two-page return designed for small, non-taxable corporations with gross annual income of $500 000 or less.
For further information:
please call 1-800-959-5525
visit the websites:
T2 Corporation Income Tax Return (2006 and later taxation years)
Income Tax Returns - the T2 Corporate Income Tax Return and the T2 Short Return
Corporations
Corporation Internet Filing
Telephone numbers for the Canada Revenue Agency
2. Provincial Corporate Tax Information
Ontario Ministry of Revenue - Client Accounts and Services Branch (CASB)
Any corporation doing business in Ontario must file a separate income tax return with the provincial Ministry of Revenue. However, certain corporations may be eligible for exemptions.
Note: The governments of Canada and Ontario have signed a Memorandum of Agreement on October 6, 2006. The Canada Revenue Agency (CRA) is now administering Ontario's corporations tax, capital tax, corporate minimum tax, and the special additional tax on life insurers. All telephone enquiries should be directed to the CRA.
For more information:
call the CRA at 1-800-959-5525
visit these websites:
Corporations Tax Act
Ontario - Provincial corporation tax
Ontario Corporations Tax
Single Administration of Corporate Tax
CT23 Corporations Tax and Annual Return
Guide to the CT23 Corporations Tax and Annual Return
3. Other Resources
Fairness and Taxpayer Rights
This service provides information on the general policy regarding the collection of taxes and amounts owing under the Income Tax Act, the Canada Pension Plan Act, the Employment Insurance Act, the Excise Tax Act, the Customs Act, and the Petroleum and Gas Revenue Tax Act.
For further information:
visit the website: CRA - Fairness and Taxpayer Rights
Objections and Appeals
The Income Tax Act and the Excise Tax Act allow a person to dispute an assessment of taxation by filing a formal objection. These disputes can include Income Tax assessment, HST assessment or other taxes imposed under the Excise Tax Act.
Rulings and Interpretation Program
The Rulings and Interpretations Program of the CRA provides clients with rulings and technical interpretations of the Excise Tax Act and related statutes, and offers technical publications which explain these rulings and technical interpretations.
For further information:
visit the website: Services of the Income Tax Rulings Directorate
Voluntary Disclosures Program
Allows taxpayers to come forward and correct inaccurate or incomplete information or disclose material they did not report during previous dealings with the CRA, without penalty or prosecution.
For further information:
visit the website: Voluntary Disclosures Program
Online Requests for Business
The Online Requests for Business service allows Business clients to electronically ask for certain financial actions to be processed on an account. It lets business clients inform the Canada Revenue Agency via the Internet of an action or review they want them to do, request items they require or inform them of communication items they no longer wish to receive.
For further information:
visit the website: Online Requests for Business
- Business number RC2
- Guide for Canadian Small Businesses
- Changes to Canada Revenue Agency Service and Payment Counters
Related Reading
Need more information?
Click: Canada Business
Call: The Business Info Line, a collaboration between ServiceOntario and Industry Canada, at 1-888-745-8888
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DISCLAIMERS
Information contained in this document is of a general nature only and is not intended to constitute advice for any specific situation. Users concerned about the reliability of the information should consult directly with the source, or seek legal counsel.
Some of the organizations listed above are not subject to the federal Official Languages Act or the French Language Services Act of Ontario. Their services may not be available in both official languages.
