T2 Corporate Tax Return Canada | Complete Guide 2026
The T2 Corporation Income Tax Return is the annual tax return filed by all Canadian corporations including inactive ones. The T2 is due 6 months after the corporation’s fiscal year end. Tax is due 3 months after year end (2 months for non-CCPCs). The federal small
Read MorePayroll Deductions Canada — CPP | EI | Income Tax Explained
Canadian payroll deductions consist of three mandatory source deductions withheld from every employee’s pay: CPP (Canada Pension Plan) contributions at 5.95% of pensionable earnings, EI (Employment Insurance) premiums at 1.66% of insurable earnings, and federal + provincial income tax based on TD1 claim codes and CRA
Read MoreT4 Slip Filing Canada — Deadlines, Process & Penalties 2026
A T4 slip (Statement of Remuneration Paid) is the Canadian equivalent of a W-2 every employer must issue a T4 to each employee and file a T4 Summary with CRA by February 28 each year (February 29 in leap years). T4 slips report total employment income
Read MoreCRA Payroll Remittance | Complete Guide for Canadian Employers
CRA payroll remittance is the amount a Canadian employer must send to the Canada Revenue Agency every month covering CPP contributions, EI premiums, and income tax deducted from employee pay. The deadline is the 15th of the month following the pay period. Missing the deadline attracts
Read MoreBookkeeping for Small Business in Canada — Complete 2026 Guide
Bookkeeping for a small business in Canada involves recording all financial transactions, reconciling bank accounts monthly, tracking HST/GST collected and paid, and maintaining records for at least 6 years as required by CRA. Canadian small businesses typically use Xero or QuickBooks Online for cloud bookkeeping. Monthly
Read More