Why Calgary Businesses Trust Local Corporate Tax Accountants

Many Calgary business owners leave money on the table simply because they don't know about available tax credits and deductions. While filing corporate taxes might seem like a straightforward task, the reality is that tax laws are complex and constantly changing, making it difficult to capture all potential financial benefits for your business.

Working with a corporate tax accountant in Calgary can make a significant difference to your bottom line through strategic planning and proper compliance. Local businesses typically pay between $1,500 to $3,000 for basic corporate tax filing services—considerably more affordable than in larger markets like Toronto. This competitive pricing, paired with personalized attention, makes Calgary an excellent place for businesses looking for professional tax expertise.

This guide explains why local businesses put their trust in Calgary tax accountants, how these professionals can help you maximize tax savings, and what qualities to look for when selecting the right tax professional for your specific business needs.

Why Local Expertise Matters in Corporate Tax Accounting

Working with a local tax professional can significantly impact your corporate tax outcomes. When you look at Alberta's unique tax landscape and Calgary's specific business environment, the value of regional expertise becomes clear.

Understanding Alberta's tax environment

Alberta offers Canadian businesses one of the most favorable tax environments in North America. Since the 1940s, incorporated businesses with a permanent establishment in Alberta have been required to pay income tax on the portion of taxable income allocated to the province. What truly sets Alberta apart, though, is its competitive corporate tax structure.

The combined federal/provincial corporate income tax rate in Alberta is just 23% (15% federal and 8% provincial) for general businesses. For small businesses with revenues below $696,680, this rate drops to an even more attractive 11% (9% federal and 2% provincial). This gives Alberta businesses the lowest combined corporate tax rate in Canada.

Alberta's tax advantage goes beyond just low rates. The provincial calculation of taxable income mirrors the federal calculation, though businesses may claim different discretionary deductions for federal and provincial purposes. This alignment makes compliance simpler while still offering flexibility for tax planning.

At BOMCAS Canada, our corporate tax accountants in Calgary stay up-to-date with Alberta's tax laws to ensure clients receive every available benefit. Our team helps businesses understand provincial tax credits, including the innovation employment grant and other industry-specific incentives that can significantly reduce tax burdens.

Navigating Calgary-specific business regulations

Beyond provincial tax rules, Calgary has its own unique set of business regulations that demand specialized knowledge. For example, businesses operating within a Business Improvement Area (BIA) receive a specific BIA tax bill completely separate from property tax bills. The City of Calgary collects this levy on behalf of the BIA, with rates established annually based on the BIA's Board of Directors' proposed budget.

Calgary also offers competitive small business tax rates designed to create a healthy economic environment, with specific incentives that encourage entrepreneurship and business expansion. Understanding these local regulations is essential for tax efficiency and compliance.

Local corporate tax accountants in Calgary possess valuable insights into:

• Municipal tax incentives and exemptions that could benefit your business

• Calgary-specific filing requirements and deadlines

• Local tax authorities' processes and preferences

• City-level business tax bylaws and their practical applications

The tax landscape for Calgary businesses combines municipal, provincial, and federal laws governing everything from business registration to specific growth incentives. A local corporate tax accountant has established relationships with these organizations, which proves particularly beneficial when addressing issues or disputes during the tax filing process.

Unlike national firms or online tax services, a Calgary-based corporate tax accountant provides personalized attention tailored to your specific business needs. They take time to understand your unique financial situation and goals, offering customized guidance rather than one-size-fits-all solutions. This personalized approach becomes especially valuable as your business grows and your financial needs evolve.

Corporate tax accountants at BOMCAS Calgary help every business client access all eligible tax credits and deductions. Beyond preparing your T2 returns and managing compliance requirements, they provide strategic advice on future tax planning opportunities specific to Calgary's business environment. Our team's deep understanding of local tax regulations ensures your business stays fully compliant while benefiting from every available tax advantage.

The stakes are high with corporate taxation. If a corporation fails to file its tax return by the deadline, it constitutes a legal violation with potential penalties. Canadian-controlled private corporations (CCPCs) must file by the end of the third month following the taxation year, while other corporations must file by the end of the second month. Your local corporate tax accountant ensures these crucial deadlines are never missed.

As Alberta's tax environment continues to evolve, having a trusted local advisor becomes increasingly valuable. They provide proactive insights about legislative changes that might affect your taxes in the future, ensuring your tax strategies remain effective and adaptable.

Personalized Service That National Firms Can't Match

What truly sets Calgary's local tax professionals apart is their ability to deliver highly customized service that national chains simply cannot match. If you're wondering whether the extra attention makes a real difference to your bottom line, the answer is yes—the value of working with a corporate tax accountant in Calgary extends far beyond basic compliance work. Local firms offer personalized attention that creates meaningful financial advantages for businesses of all sizes.

Tailored tax strategies for local businesses

At BOMCAS Canada, we recognize that each Calgary business faces unique tax challenges and opportunities. This understanding forms the foundation of our approach to corporate tax services. Unlike national firms that often apply standardized methods across thousands of clients, local accountants develop tax strategies specifically tailored to your business circumstances.

This personalized approach yields tangible benefits:

• Industry-specific expertise: Local accountants understand the tax nuances of Calgary's dominant industries, from energy and agriculture to technology and manufacturing.

• Flexible service models: Services can be customized based on your business size, complexity, and budget constraints.

• Proactive planning: Rather than simply reacting to tax events, local accountants anticipate changes based on your specific business trajectory.

• Integration with business goals: Tax strategies align with your overall business objectives rather than treating tax as an isolated function.

Personalization extends to every aspect of the client relationship. BOMCAS Canada's corporate tax accountants in Calgary take time to understand your business operations, growth plans, and financial priorities. This comprehensive understanding enables them to spot tax-saving opportunities that might otherwise be missed.

For example, when working with construction companies in Calgary, our accountants apply specialized knowledge of industry-specific tax considerations, such as contract allocation methods, job costing procedures, and available industry tax incentives. As a result, clients receive strategies precisely matched to their operational reality rather than generic advice.

Direct access to your accountant year-round

Perhaps the most significant advantage of working with a local corporate tax accountant is the direct, year-round access to your financial advisor. This ongoing relationship fosters trust and ensures continuity in your tax planning.

With national firms, you might interact with different representatives each time you call, or find yourself explaining your business situation repeatedly. In contrast, BOMCAS Canada offers consistency by assigning dedicated accountants to each client. Your corporate tax accountant becomes familiar with your business history, challenges, and goals.

This accessibility manifests in several ways:

First, you can schedule face-to-face meetings at your convenience, whether at your office or the accountant's. Many Calgary business owners value these in-person discussions for complex tax planning.

Second, local accountants typically offer more responsive communication. When tax questions arise, you can expect prompt replies from someone who already understands your situation.

Third, your accountant provides ongoing monitoring of tax law changes that might specifically affect your business, rather than sending generic mass updates.

This direct relationship proves particularly valuable during major business transitions. Whether you're considering expansion, succession planning, or a potential sale, your corporate tax accountant can provide timely guidance on tax implications specific to your circumstances.

Many Calgary businesses find that working with local accountants transforms tax preparation from an annual compliance exercise into a year-round strategic advantage. The personalized service creates a partnership where your accountant truly functions as an extension of your business team.

At BOMCAS Canada, our corporate tax accountants in Calgary commit to building lasting relationships with clients. Our comprehensive tax solutions are tailored to meet the unique needs of your business, ensuring you receive personalized service and strategic advice that national firms simply cannot match.

Corporate Tax Return Preparation Done Right

Filing corporate tax returns isn't just about meeting deadlines—it requires precision and expertise that can make a significant difference to your bottom line. At BOMCAS Canada, we understand the complexities of corporate tax preparation and ensure your returns are filed correctly, on time, and optimized for maximum benefit.

T2 returns and financial statement integration

All corporations in Canada—including non-profit organizations, tax-exempt corporations, and inactive companies—must file a T2 corporate tax return annually, even if there's no tax payable. This legal requirement affects virtually every business except tax-exempt Crown corporations, Hutterite colonies, and registered charities.

For tax years starting after 2023, electronic filing becomes mandatory for most corporations. If you fail to comply with this requirement, you'll face a substantial penalty of CAD 1,393.36. Our corporate tax accountants in Calgary stay ahead of these requirements, ensuring your business meets all electronic filing obligations.

Proper integration between your financial statements and tax returns is fundamental to accurate reporting. The General Index of Financial Information (GIFI) system requires standardized coding of financial statement items. BOMCAS Canada's corporate tax accountants meticulously prepare your financial information using the appropriate GIFI codes, ensuring:

• Consistent reporting between financial statements and tax returns

• Complete integration of balance sheets and income statements

• Proper disclosure through supplementary schedules

Our approach to corporate tax return preparation focuses on seamless integration between your financial reporting and tax compliance requirements. This integration isn't just about administrative convenience—it forms the foundation of effective tax planning.

The Canadian tax system strives for "neutrality" between corporate and personal taxation. This concept, known as corporate/shareholder integration, aims to ensure similar tax treatment regardless of whether income is earned personally or through a corporation. Understanding this integration allows our accountants to optimize your tax situation within the framework of Canadian tax law.

Avoiding penalties through accurate filings

Late or inaccurate filings can result in substantial penalties that directly impact your bottom line. The standard penalty for filing late starts at 5% of unpaid tax due at the filing deadline, plus 1% for each complete month the return is late, up to a maximum of 12 months.

These penalties increase dramatically for repeat offenders. If the CRA has previously assessed a failure-to-file penalty in any of the three previous tax years, the penalty jumps to 10% of unpaid tax, plus 2% for each complete month, up to a maximum of 20 months.

Besides late filing penalties, corporations face additional consequences for:

• Failing to report income (10% of unreported amounts)

• Making false statements (greater of $139.34 or 50% of understated tax)

• Missing installment payments (subject to interest charges)

BOMCAS Canada's corporate tax accountants in Calgary take a proactive approach to avoid these costly penalties. We implement systematic processes to track filing deadlines, verify information accuracy, and ensure complete reporting of all income sources.

We also manage the complexities of tax filings for various corporate structures. Canadian-controlled private corporations (CCPCs) must file within six months of their fiscal year-end, but taxes owing must be paid within three months to avoid interest charges. Large corporations face additional requirements and penalties related to their taxable capital.

At BOMCAS Canada, we don't just complete forms—we provide comprehensive corporate tax return preparation services tailored to your business. Our experienced accountants analyze your company's situation and prepare returns optimized for credits and deductions. This professional approach not only saves you time but also reduces stress during tax season while minimizing your overall tax burden.

Our knowledge of the latest tax rules and regulations enables us to determine the maximum applicable deductions and credits, saving both money and time for our clients. We handle all tax-related paperwork throughout the year, ensuring your business remains fully compliant with legal requirements.

Strategic Tax Planning for Long-Term Savings

Strategic tax planning goes far beyond annual compliance—it's about making informed decisions that significantly impact your business's financial health for years to come. If you're only thinking about taxes at filing time, you're missing valuable opportunities to strengthen your business's financial position. At BOMCAS Canada, our corporate tax accountants in Calgary develop customized tax strategies that help business owners retain more of their hard-earned profits.

Salary vs. dividends: what works best?

One of the most crucial decisions Calgary business owners face is how to compensate themselves: through salary, dividends, or a combination of both. The optimal choice depends on your specific circumstances and financial goals.

The tax landscape currently favors salaries over dividends in Alberta. It's now more tax efficient to pay salaries than dividends. This marks a shift from previous years when dividends held the advantage, primarily due to recent increases in CPP contribution rates, making the salary-dividend decision more nuanced.

When considering salaries, several advantages emerge:

• Salaries receive a preferential tax rate in Alberta as of 2024

• Salary payments create RRSP contribution room, enhancing retirement planning options

• Paying yourself a salary helps qualify for financing, including mortgages and loans

• Salaries count as "earned income" for certain programs, such as maternity leave

• Salary payments are "safe" from CRA claims on unpaid corporate income tax

Dividends offer distinct benefits as well. With lower administrative requirements, dividends don't require CPP contributions, meaning business owners who pay themselves dividends will receive substantially more immediate cash. Dividends can also be declared at the end of the corporation's fiscal year, potentially allowing for tax deferral.

Many Calgary business owners fall into what our accountants call "The Dividend Trap"—using dividends as a form of cash flow management and effectively treating the CRA as a creditor who finances annual tax bills in exchange for penalties and interest. To avoid this situation, we recommend establishing a personal budget and setting aside sufficient funds to cover tax liabilities.

As our corporate tax accountants often advise Calgary clients, a balanced approach typically works best—combining a reasonable salary with strategic dividend distributions.

Income splitting and holding company strategies

Income splitting is another powerful tax planning strategy, allowing business owners to distribute income among family members in lower tax brackets, thereby reducing the overall family tax burden.

It's essential to navigate the Tax on Split Income (TOSI) rules carefully. These rules prevent taxpayers from artificially using income splitting to reduce their tax bill. However, there are exceptions to these rules that our corporate tax accountants in Calgary can help you leverage:

For family members aged 18-24, income splitting can be implemented if they work with the business for an average of at least 20 hours per week in the current tax year. For relatives 25 or older who own at least 10% of the company in both votes and value, their dividends are exempt from TOSI, provided the corporation earns less than 90% of its income from services and is not a professional corporation.

Pension income splitting offers another strategy for retirement-aged entrepreneurs. If the business owner has reached the age of 65, they can pay dividends to their spouse without TOSI rules applying.

Holding companies provide additional tax planning advantages for Calgary businesses. One significant benefit is tax deferral—profits retained in the holding company are taxed at the corporate rate, which is often lower than personal income tax rates. In Alberta specifically, the general corporate income tax rate is currently 8%, the lowest among Canadian provinces, while the small business tax rate is just 2%.

If your holding company owns more than 10% of your operating company, you can execute a tax-free dividend, moving profits and assets from your operating company to your holding company without incurring additional tax. This creates a valuable protective structure for your business assets.

At BOMCAS Canada, our corporate tax accountants in Calgary examine all aspects of your business to develop comprehensive tax strategies tailored to your specific situation. We help you navigate Alberta's favorable tax environment—which features no provincial sales tax, no payroll tax, and no health-care premiums—to maximize your long-term savings through strategic tax planning.

Support Beyond Tax Season: Year-Round Compliance

Tax compliance doesn't end when you file your corporate return. Successful businesses understand that tax management requires year-round attention and expertise. If you're only thinking about taxes during filing season, you might be missing opportunities to optimize your financial position throughout the year. At BOMCAS Canada, we provide ongoing support that keeps your business compliant and financially organized throughout the entire year.

Ongoing bookkeeping and GST/HST filing

Effective bookkeeping forms the foundation of tax compliance. Without organized financial records, businesses face significant challenges during tax season and risk missing valuable deductions. Our Calgary corporate tax accountants help streamline your bookkeeping processes to ensure better growth and financial clarity.

For businesses registered for GST/HST, filing requirements vary depending on your reporting period:

• Annual filers: Returns and payments due three months after your fiscal year-end

• Quarterly filers: Returns and payments due one month after the quarter ends

• Monthly filers: Returns and payments due at the end of the following month

Starting with reporting periods after December 31, 2023, all GST/HST registrants (except charities and selected listed financial institutions) must file their returns electronically. If you continue to file paper returns, you'll face penalties, making professional support increasingly valuable.

Many Calgary businesses must also make quarterly installment payments if they're annual filers with a net tax exceeding CAD 4,180.08 in both the previous and current fiscal years. These installment requirements add another layer of complexity to your tax obligations.

Our bookkeeping services include:

• GST/HST return preparation and electronic filing

• Payroll processing and timely tax filings

• Regular financial updates (weekly or monthly)

• Cloud-based systems for secure access to your financial data

• Integration with your existing systems

"Proper bookkeeping helps you manage your business finances, so tax documents can be filed on time," explains our lead accountant at BOMCAS Canada. "This is key to meeting tax obligations and avoiding late filing penalties".

Staying ahead of CRA deadlines

Meeting CRA deadlines requires vigilance and organization. If you miss these critical dates, you'll face substantial penalties and interest charges that directly impact your bottom line.

For corporate income tax returns, Canadian-controlled private corporations must file within six months after their fiscal year-end, but taxes must be paid within three months to avoid interest charges. You must file a return no later than three years after the end of a tax year to receive a tax refund.

If you receive a notice of assessment or reassessment, you have just 90 days to file a formal objection. Missing this window significantly limits your options for disputing the assessment.

The CRA also imposes strict record-keeping requirements. Generally, businesses must maintain their records for 6 years after the end of the tax year to which they relate. The CRA may occasionally grant permission to destroy records earlier, though this requires specific approval.

Late or insufficient installment payments trigger installment interest charges, which are compounded daily. If these interest charges exceed CAD 1,393.36, you may face additional penalties.

At BOMCAS Canada, our corporate tax accountants in Calgary provide year-round support to help you navigate these complex requirements. "Tax planning is not a one-time event," notes our senior tax advisor. "We provide ongoing advice and support throughout the year, so you're always prepared for tax season."

Our year-round tax services include:

• Deadline tracking and reminders

• Regular compliance check-ins

• Preparation for upcoming filings

• CRA correspondence management

• Support during CRA reviews or audits

With unlimited support whenever needed, you can focus on running and growing your business rather than stressing about tax deadlines. Our corporate tax accountants remain closely involved through regular follow-ups and discussions, ensuring you stay compliant while minimizing your tax burden.

Audit Protection and CRA Representation

The dreaded CRA audit notice strikes fear in many Calgary business owners. If you've been feeling less anxious about potential audits in recent years, that comfort may be short-lived. After a relative lull during pandemic years, CRA audit activities have dramatically increased, with recent reports showing multiple businesses from different industries receiving two-year full scope audit letters in just one week.

How local accountants handle audits

When facing a CRA audit, having a local corporate tax accountant in Calgary provides distinct advantages. At BOMCAS Canada, we manage all aspects of the audit process, starting with understanding what type of review you're facing:

• Field audits - Comprehensive examinations where auditors visit your business and examine two full fiscal years of data with "a fine tooth comb"

• Desk audits - Focused reviews typically examining one or two specific periods or issues

• Processing reviews - Simpler inquiries requesting documentation to verify specific information

Throughout an audit, our corporate tax accountants serve as your intermediary with the CRA, presenting your case in the most favorable light. We ensure all documentation is properly organized and responses directly address inquiries without over-disclosure.

Even if your records are perfect and no adjustments are ultimately made, you'll still face the costs of gathering information and having your accountant analyze all required documentation. This makes professional representation valuable regardless of outcome.

Minimizing risk and stress during reviews

The best defense against audit troubles begins before an audit occurs. Our corporate tax accountants in Calgary implement proactive strategies:

First, we establish quarterly compliance audits to verify tax documentation and identify potential risks before any CRA inquiry. We then develop a structured CRA Response Playbook for your business that defines exactly who manages CRA interactions.

We also conduct thorough reconciliations between financial statements, tax returns, and third-party filings (GST/HST, payroll) to prevent inconsistencies that frequently trigger audits.

The financial impact of audit representation can be substantial. Professional fees incurred during a CRA audit can "quickly become very significant and incredibly costly". This is where our Audit Shield program becomes valuable – providing fixed-cost protection against unpredictable professional fees.

Proper record-keeping remains essential for audit defense. By law, businesses must maintain books and records for a minimum of six years. Electronic accounting records must be kept in electronically readable format, even if paper copies exist.

At BOMCAS Canada, our Calgary corporate tax accountants provide peace of mind throughout the audit process. We handle all correspondence, ensure deadlines are met, and present your case professionally – letting you focus on running your business rather than stressing about the CRA.

Helping Small Businesses Scale with Confidence

Growing your business requires more than just good products or services—it demands strategic financial management. If you're wondering how to take your small business to the next level, the answer might lie in smarter tax planning. At BOMCAS Canada, our Corporate Tax Accountant team in Calgary specializes in turning tax planning into a growth catalyst for small businesses.

Tax planning for growth and reinvestment

Effective tax planning creates opportunities for business expansion by freeing up capital that would otherwise go to taxes. Small businesses implementing strategic tax planning can significantly enhance their bottom line, providing essential resources for reinvestment.

At BOMCAS Canada, we help Calgary businesses:

• Identify potential tax savings opportunities that generate capital for expansion

• Optimize available tax deductions and credits to maximize profits for growth

• Develop tax strategies aligned with specific financial goals to ensure sustainable growth

• Leverage technology-related tax incentives to improve operational efficiency

Throughout Alberta's evolving business landscape, forward-looking tax strategies prove essential. Using the small business tax advantage in Alberta, which offers rates as low as 11% for eligible businesses, creates a substantial opportunity to retain earnings within your company. This approach allows for greater reinvestment potential compared to withdrawing all profits as personal income.

Financial reporting that supports decision-making

Excellent financial reporting serves as the foundation for confident business scaling. According to financial experts, proper financial reporting supports planning and decision-making processes by providing accurate data for analysis.

Our Calgary tax accountants deliver reporting services that include:

Quarterly forecasting and variance analysis to identify growth opportunities and challenges Development of detailed budgets that account for projected income, expenses, and tax liabilities Regular financial updates that provide real-time insights into business performance

These reporting practices help businesses make informed decisions about expansion timing, capital purchases, and hiring—all crucial elements for scaling operations.

Our corporate tax accountants work as strategic partners in your growth journey. We understand that running a business can be overwhelming, which is why we offer comprehensive services that allow you to stay focused on what you do best—growing your business with confidence.

Choosing the Right Corporate Tax Accountant in Calgary

Selecting the right tax professional can make the difference between simply complying with tax laws and truly optimizing your business's financial position. If you've tried to find a corporate tax accountant in Calgary, you've likely discovered there are many options available. Finding the ideal professional requires careful consideration of specific qualifications and compatibility factors that align with your business needs.

What to look for in a local CPA

When choosing a corporate tax accountant in Calgary, start by looking for proper credentials—specifically the CPA (Chartered Professional Accountant) designation. This certification confirms the professional has passed rigorous exams and meets high ethical standards.

Experience within your industry is equally important. A seasoned accountant can provide customized solutions tailored to your specific financial situation. If you operate in construction, for example, you'll want a professional familiar with industry-specific deductions and credits that other accountants might miss.

You should also verify that your potential accountant stays current with changing tax laws. Tax regulations evolve constantly, so working with someone who pursues ongoing professional development ensures you receive accurate, up-to-date advice.

The right accountant should be readily available to assist with your questions. Consider whether their communication style matches your preferences—some business owners need regular in-person meetings for complex discussions, while others prefer prompt email responses for day-to-day matters.

Questions to ask before hiring

Before committing to a corporate tax accountant in Calgary, set up a thorough question-answer session:

• "What services do you offer beyond tax preparation?" The ideal accountant should provide comprehensive services including bookkeeping, GST/HST filing, and strategic planning.

• "What is your fee structure?" Understand whether they charge hourly rates, flat fees, or offer package deals.

• "Do you have experience with businesses of my size and in my industry?"

• "How do you communicate with clients, and what is your typical response time?"

• "What tax planning strategies would you recommend for my business?"

Trust forms the foundation of this relationship. An initial meeting—whether in person, virtually, or by phone—helps establish whether this accountant truly understands your business needs.

Selecting the right corporate tax accountant is essential for saving time, reducing stress, and avoiding costly mistakes that could impact your business for years to come.

Conclusion

Choosing the right corporate tax accountant makes a significant difference in your business's financial success. Calgary businesses benefit from local expertise that combines deep knowledge of Alberta's tax environment with personalized attention that national firms simply can't match. Proper tax planning and compliance create opportunities for growth while protecting your business from costly penalties and missed opportunities.

Professional corporate tax support isn't just important during tax season—it's essential year-round. Strategic planning helps optimize salary structures, maximize available deductions, and ensure compliance with ever-changing regulations. When CRA audits happen (and they're increasing), local accountants provide crucial protection, handling all correspondence while you focus on running your business.

Small businesses stand to gain the most from working with dedicated local accountants who understand their unique challenges. These professionals help create clear financial reports, identify growth opportunities, and develop tax strategies aligned with your specific business goals. This transforms tax management from a necessary burden into a genuine strategic advantage.

Contact BOMCAS Canada today for all your Corporate Tax Needs in Calgary Alberta Canada. Our team delivers the expertise, personal attention, and year-round support your business needs to thrive in Calgary's unique tax environment.

FAQs

Q1. What are the benefits of hiring a local corporate tax accountant in Calgary? Local corporate tax accountants in Calgary offer personalized service, deep knowledge of Alberta's tax environment, and year-round support. They can provide tailored tax strategies, navigate Calgary-specific business regulations, and offer direct access to your accountant, which national firms often can't match.

Q2. How much does corporate tax preparation typically cost in Calgary? Corporate tax preparation costs in Calgary can range from $1,500 to $3,000 for basic filing services. However, the exact cost may vary depending on the complexity of your business and the specific services required.

Q3. What are the key deadlines for corporate tax filing in Canada? Canadian-controlled private corporations (CCPCs) must file their tax returns within six months after their fiscal year-end. However, taxes must be paid within three months to avoid interest charges. Other corporations typically need to file by the end of the second month following their tax year-end.

Q4. How can a corporate tax accountant help with CRA audits?