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Corporate Tax
For a typical owner managed Canadian
corporation, Softron Services include:
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Preparation of financial statements (Balance
sheet, Income Statement)
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Filing of corporate federal T2 Tax return and
attachments
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Filing of a provincial tax return and attachments
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Income tax planning for optimal distribution of
income.
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Preparation of associated T4 /T4A filings
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Filing associated GST, PST return
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Coordination with individual filings.
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Softron also helps you:
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Incorporate your business.
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Getting/Canceling Business Number and all
relevant accounts, Vendor's Permit etc.
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Winding up your business.
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Frequently Asked Questions
Question: Will incorporating my business
protect my personal assets?
Answer: Incorporating will give protection against personal assets by limiting liability. Usually financial institutions require a personal guarantee from the shareholder(s) of a small business. Limited liability does not extend to GST and payroll remittances. Directors may be liable for withholding taxes.
Question: My business is doing great and I'm making more
money than I need. Should I incorporate?
Answer: Incorporating your business gives shareholders more
options for income distribution. The income tax rate for small
business corporations is lower than the individual shareholders. If
your corporation is Canadian Controlled Private Corporation (CCPC),
it will be eligible for small business deduction.
Question: How much does it cost to incorporate a business?
Answer: Incorporation usually costs $700 to $1000 and you get
the following:
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Drafting the Articles of Incorporation
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Name search
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Corporate seal
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Tax advice regarding incorporation etc.
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Call (905) 273 4444 to make an appointment for a
free initial consultation.
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