Completing your corporation income tax (T2) return

For tax years ending after 2009, all corporations with annual gross revenue of more than $1 million will have to Internet file their T2 Corporation Income Tax Return, except for:

• insurance corporations;
• non-resident corporations;
• corporations reporting in functional currency; and
• corporations that are exempt from tax payable under section 149 of the Income Tax Act.

For tax years ending after 2011, a corporation will be subject to a penalty for non-compliant returns.

Whether you Internet file or use the traditional CRA-issued paper return to complete your T2 return, you will have different options for filing your return and preparing your financial statements using the General Index of Financial Information (GIFI).

Forms and publications

• Guide T4012, T2 Corporation Income Tax Guide
• T2 Corporation Income Tax Return
• T2 Short Return