Corporate Tax

Corporate Tax Services

Your team of Surrey-based corporate tax accountants

Navigating tax laws for corporations can be extremely challenging. The CRA continually changes the tax laws and you can reduce your business’ tax compliance risk by engaging a Chartered Professional Accountant.

As experienced corporate tax accountants, Richard Kosick & Co. is focused on advising our clients on how best to work within the current tax laws, to help them maximize their tax savings now and for years to come. Through a careful review of your corporation, our expert accountants can provide a custom corporate tax plan to help your business avoid overpaying tax.

At Richard Kosick & Co. we have an experienced team of accountants in Surrey, BC ready to work with you to prepare your tax return and develop a tax plan that navigates through the new tax laws on income splitting and passive income grind of the small business deduction.

Our experience and expertise gained through many years of corporate tax planning have allowed us to help clients protect their wealth and preserve the equity in their businesses now and into the future. We are up to date with current tax laws and changes in the accounting field for reviews and compilations. We offer expertise to all corporations from start-ups to large established businesses in a variety of industries.

Our Corporate Tax Services Include :

We help you navigate through an ever-changing tax landscape to maximize your company’s value.

Looking for professional accountants and business advisors? We are here to assist!

Book 10 Minutes Consultation

Looking for consultation?
(+1) 604 584 6822

Need help with bookkeeping and accounting services for your small business? Schedule a free phone consultation with Richard Kosick & Co. tax accountants in Surrey to get started.

Corporate Tax FAQ’S

The most frequently asked questions about Corporate Tax services.

Changing from partnership to proprietorship requires a new business registration. This includes resubmitting a business name request, as well as a new registration (see "How do I register my business?"). You must also submit a dissolution form (see "How do I close/dissolve my business?").

You can’t switch from a proprietorship to a corporation because they are different legal structures. A proprietorship is simply an individual operating under a registered business name or under their legally given name, whereas a corporation is a separate legal entity from the individual who owns the business, and is in turn owned by its shareholder(s). 

A sole proprietor can choose to incorporate (see "How do I register my business?") at any time and can subsequently dissolve their registered proprietorship (see "How do I close/dissolve my business?"), or keep it on record while operating their business under as corporation.

You can pay your corporate tax balance through your online banking. Most major financial institutions participate. In order to do this, complete the following steps:

  1. Google “CRA My Payment” or browse to: https://www.canada.ca/en/revenue-agency/services/e-services/payment-save-time-pay-online.html
  2. Click Pay now
  3. Under Businesses, select Corporation income tax (T2)
  4. Select Amount owing
  5. Enter your account number eg. (999888777RC0001) and the amount you want to pay
  6. Select the payment and click Confirm and proceed to pay
  7. Click Pay now
  8. Follow the steps through to your online banking to complete the payment
  9. Keep the confirmation number for your records

You can pay your GST balance through your online banking. Most major financial institutions participate. In order to do this, complete the following steps:

  1. Google “CRA My Payment” or browse to: https://www.canada.ca/en/revenue-agency/services/e-services/payment-save-time-pay-online.html
  2. Click Pay now
  3. Under Businesses, select GST/HST
  4. Select Payment on filing
  5. Enter your account number (999888777RT0001), end of period eg. (2018-December-31) and the amount you want to pay
  6. Click Confirm and proceed to pay
  7. Click Pay now
  8. Follow the steps through to your online banking to complete the payment
  9. Keep the confirmation number for your records

If incorporated, businesses will have to file a corporate income tax return within six months from the year end date; however, corporate taxes are due within either sixty days or ninety days from the year end date, depending on the nature of the income.

Other returns include:

  • GST/HST for registered businesses with monthly, quarterly or annual filing deadlines
  • Payroll remittances will vary based on volume, but typically for SMEs, the frequency will be monthly. The business must issue T4 slips based on calendar year by the end of February of the following year.
  • Workers Compensation Board premiums, typically due monthly. There is also an annual reconciliation.
  • Employer Health Tax premiums due for businesses with payroll in excess of $450,000.