Plain meaning
The main income tax return that corporations resident in Canada generally file to report income, deductions, credits, and tax payable.
Also called
corporation income tax return
T2
Key points
- Most corporations must file a T2 return for each tax year, even when no tax is payable.
- The return reports corporate income, taxable income, credits, instalments, and balances owing or refundable.
- Corporations may need additional schedules for items such as related corporations, capital dividends, or foreign information.
- Filing deadlines and payment deadlines are not always the same.
Why it comes up
T2 filing is central to corporate tax compliance, small-business measures, investment credits, and CRA business administration.