CORPORATE TAX

CORPORATE TAXATION

TAX SOLUTIONS FOR ALL BUSINESSES

At Trishul Consultants, we assist corporations, whether domestically incorporated or international, in navigating their tax responsibilities efficiently. For Canadian-incorporated entities, we provide customized tax planning, preparation, and filing services that ensure compliance with both federal and provincial regulations while maximizing eligible credits and deductions. For foreign companies operating in Canada, we offer guidance on cross-border tax issues, including transfer pricing and withholding taxes, to ensure complete compliance with Canadian laws.

Our experienced team is knowledgeable in domestic and international tax regulations, which allows us to craft effective tax strategies that minimize your business's tax liabilities. With Trishul Consultants managing your corporate tax matters, you can focus on your core operations, confident that your tax obligations are in expert hands.

Trishul Consultants offers flexible corporate tax services designed to meet the unique requirements of your business. Our services include:

• Preparation of financial statements:
  • Filing of Federal T2 and Provincial corporate tax returns, with electronic submission for timely compliance
• Preparation and filing of GST/HST returns
• Corporate tax planning to optimize payouts and compensation strategies
• Minimizing tax obligations to improve cash flow
• Filing of statutory returns like T4, T4A, and T5 slips

CORPORATE RESIDENCY FOR TAX PURPOSES IN CANADA

Corporation Incorporated in Canada

Corporations established in Canada after April 26, 1965, are considered Canadian residents for tax purposes.

Corporation Not Incorporated in Canada

Corporations incorporated outside Canada are deemed Canadian residents for tax purposes if central management and control are exercised within Canada, typically by the board of directors.

RESPONSIBILITY FOR UNPAID WITHHOLDING AND TAXES

Corporate officers and directors may be held accountable if any withholding taxes or other tax amounts remain unpaid to the CRA (Canada Revenue Agency).

INFORMATION REQUIRED FOR CORPORATE TAX RETURN

The following documents and information are required for filing corporate income tax returns. Please contact us to discuss your specific requirements.

• Business Name
• Business Number
• Alberta Corporation Number
• Names, SIN, and ownership percentages of shareholders

Corporate Tax Return e-filing | Trishul Consultants

• Bank Statements
• Donation Receipts
• Rental Income Documentation
• Non-Registered Share Trading Details
• Updated Address and Contact Information
• Signing Authority
• Date of Incorporation
• Last Year’s CRA Notice of Assessment
• Income Statement
• Balance Sheet
• Prior Tax Return, Depreciation Schedule
• Authorization using Business Number RSL 744591892

INFORMATION REQUIRED FOR T4, T4A, T5, AND SUMMARY RETURNS

Below is the required information for preparing T4, T4A, T5, and their respective summary returns:

Company Information

• Payroll or Slips Account Number
• Corporation Name
• Full Address, including Postal Code
• CRA Web Access Code (Call CRA at 1-800-959-2803 for assistance)
• Authorized Signing Officer
• Contact Number
• Position
• Email Address

Employee / Shareholders' Information

• Employee SIN
• First Name, Middle Initial, Last Name
• Complete Address, including Postal Code