CORPORATE TAX RETURNS
Business taxes are complicated and ever-changing. According to CRA, all resident corporations (except crown corporations and resident charities) have to file a corporate income tax return yearly even if there is no tax payable. This includes the Inactive corporations. The tax system for corporations can be quite complicated and need essential expertise along with necessary experiences to support clients properly. At M&R Tax Pro, we support our corporate clients whether they are professional corporations, family enterprises or small businesses in supporting and meeting their tax compliance needs. At M&R Tax Pro, we take an analytical approach to your taxes, identifying the best ways to minimize your tax liability while maintaining the proper reporting and payment procedures required by the government.
We offer the following corporate tax related services, for many of our clients through remote capabilities:
- Corporate income tax returns
- Nil returns for inactive corporations
- HST returns
- Payroll remittance returns
- WSIB/Employee Health Tax
- Information returns (T4, T5, T1135, and etc.)
- Resolving issues with the Canada Revenue Agency including CRA correspondence and CRA Representation
- HST & GST Housing Rebate in Ontario
- Taxes for Non-Residents
When working on your taxes, our goal is to eliminate the risk of penalties by creating tax plans that reflect your unique situation. Also, we will assure that we file your return no later than six months after the end of each tax year which is its fiscal period. However, to avoid any sever interest and penalty on tax owing in the form of corporate income tax, it must be paid no later than three months after the end of the tax year of the corporation.
At M&R Tax Pro , you can count on our in-depth expertise of the rules and regulations of federal, provincial tax laws that would enable us to provide you with comprehensive tax compliance, It’ time to let us to assist you to get rid of headache of corporate income tax return and helping you to trigger the least amount of tax payable by giving you a unique service which suits you and your needs. Please contact us today to book an appointment for one-hour free consultation.
The federal government says targeted aid is coming for some businesses hit by closures as a second wave of COVID-19 hits parts of the country.
Finance Minister Chrystia Freeland, flanked by the prime minister and other cabinet colleagues, announced a combination of new and previously announced measures in Ottawa today.
“The difficult reality is that the health measures we are taking to contain COVID-19 mean there are some businesses that simply cannot operate at full capacity, and some are closed down by public health orders. These measures are to support those businesses and to provide a bridge for all of us to the full containment of the virus,” she said.
TORONTO, ON –After more than ten years advocating for the right to incorporate, the Ontario Real Estate Association (OREA) is proud to announce that as of today, Ontario REALTORS® will be permitted to operate their business through a personal real estate corporation (PREC). For Realtors who will benefit from a PREC, it can significantly lower their tax burden – helping them reinvest in their business and save for the future.
You or your employer(s) must submit a record of employment (ROE) for each job you had in the 52 weeks before the beginning of your CERB. We need your ROEs as soon as possible to determine if you qualify for EI benefits and how much you’ll receive.
For more information about your EI claim, including the number of weeks and the weekly amount you’ll receive, register for My Service Canada Account (MSCA).
If you received the CERB through Service Canada
In most cases, you do not need to apply for EI benefits. After you receive your last CERB payment, continue completing reports. We’ll automatically review your file and your ROE, then start a claim for EI regular benefits if you qualify. If you don’t qualify, you’ll be notified by mail.