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Businesses

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Corporations

A corporation is a separate legal entity. It can enter into contracts and own property in its own name, separately and distinctly from its owners. It has to pay tax on its income, and therefore must file its own income tax return.

What's new for corporations

Includes Single Administration of Ontario Corporate Tax. See Ontario - Provincial corporation tax for more information.

Topics about Corporations

Functional currency
How to elect, or revoke an election, to report in a functional currency. 		Corporation tax return
Completing and filing your return and schedules.
Payments
How, when, and where to pay. Includes instalment payments.		 Provincial and territorial tax
Credits, rebates, dual tax rates, business limits and Single Administration of Ontario Corporate Tax.
Business account registration
How to register for a Business Number (BN), or additional accounts such as GST/HST or payroll.		 Corporation tax rates
Federal, provincial and territorial income tax rates.
Types of corporations
 Explains the different types of legal corporations that exist for tax purposes.		 After you file your return
Reassessments, what to do if you disagree, how to prepay tax for anticipated reassessments, and authorize a representative.
Eligible dividends
 Procedures and schedules for GRIP and LRIP, Part III.1 tax, election not to be a CCPC, and election for excessive eligible dividends.		 Agristability and AgriInvest (ASAI) Programs
Agriculture and Agri-Food Canada administers the ASAI programs for corporations.
My Business Account
At My Business Account, you can make online requests and view your corporation account information, such as balances and transactions, your T2 return status, and more.

Forms and publications

Date Modified: 2009-03-18

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