CORPORATE TAX

TABLE OF CONTENTS

• Corporate Taxation
• Expert Tax Knowledge
• CRA Compliance
• Residence of Corporation for Tax Purposes in Canada
• Liability for Unremitted Withholding and Taxes
• Information Required for Corporate Tax Return
• Information Required for T4, T4A, T5 and Summary Return

CORPORATE TAXATION

TAX SERVICES FOR ALL BUSINESSES

At Insta Tax Services, we specialize in helping corporations, whether incorporated within Canada or internationally, navigate their complex tax obligations. For Canadian-incorporated businesses, we offer tailored tax planning, preparation, and filing services to ensure compliance with federal and provincial laws while maximizing deductions and credits. For foreign corporations doing business in Canada, we provide expert guidance on cross-border taxation, including transfer pricing and withholding taxes, to ensure full compliance with Canadian regulations.

Our team is well-versed in both domestic and international tax laws, allowing us to optimize your tax strategy and minimize liabilities. With Insta Tax Services, you can focus on growing your business while we handle your corporate tax needs with precision and expertise.

Insta Tax Services can tailor your corporate tax and reporting services to meet the specific needs. Our services include:

• Financial statement preparation:
  • Preparation of Federal T2 returns and Provincial corporate tax returns including e-filing
• Preparing and filing of GST/HST returns
• Corporate tax planning to determine optimal compensation and payouts
• Optimize tax payable to reduce cash outflow
• Preparation and filing of statutory slip returns such as T4, T4A, T5

RESIDENCE OF CORPORATION FOR TAX PURPOSES IN CANADA

Corporation Incorporated in Canada

Corporations registered in Canada after April 26, 1965, are deemed to be residents in Canada for tax purposes.

Corporation Not Incorporated in Canada

Corporations not incorporated in Canada are deemed to be residents of Canada for tax purposes if their central management and control of the corporation are in Canada. Central management and control rest with the members of the board of directors and where they meet and hold their meetings.

LIABILITY FOR UNREMITTED WITHHOLDING AND TAXES

Corporate officers and directors may be held responsible if any withholding tax or any outstanding tax is not remitted to the CRA (Canada Revenue Agency).

INFORMATION REQUIRED FOR CORPORATE TAX RETURN

Following are the documents/information required for small business corporation income tax return filing. However, this list is not complete. Please set up an appointment to discuss your tax situation to complete your corporate tax return.

• Business Name
• Business Number
• Alberta Corporation Number
• Name, SIN, Ownership of the Shareholders
• Bank Statements
• Donation Receipt
• Rental Income Business
• Share Trading in Non-Registered Accounts
• Address - Has it changed in the last year?
• Phone Number
• Signing Authority
• Date of Incorporation
• Last Year's Notice of Assessment from CRA
• Income Statement
• Balance Sheet
• Last Year's Income Tax Return, CCA/Depreciation Schedule

INFORMATION REQUIRED FOR T4, T4A, T5 AND T4, T4A, T5 SUMMARY RETURN

Following are the documents/information required to prepare T4, T4A, T5, and T4, T4A, T5 summary return:

Company Information

• Payroll Account Number/Slips Account Number
• Name of the Corporation
• Complete Address including Postal Code
• Web Access Code (Call CRA at 1-800-959-2803 and ask for Web Access Code)
• Signing Person
• Phone Number
• Position
• Email ID

Employee / Shareholders' Information

• Employee SIN
• First Name, Middle Initial, Last Name
• Complete Address including Postal Code