Dealing with CRA audits and forms can be stressful, but with the right guidance, it doesn’t have to be. At ExonTax, we help individuals and businesses prepare, organize, and respond to CRA requirements with complete accuracy. Whether it’s submitting tax forms, providing documentation, or managing audit reviews, our experts ensure you stay compliant and stress-free. We handle the details, so you can focus on what matters most—your growth and peace of mind.
Filing and managing business taxes in Canada involves a few structured steps to ensure compliance and efficiency. Whether you run a small business or a corporation, following these key stages helps you stay organized and avoid costly errors.
Register your business with the Canada Revenue Agency (CRA) to obtain a Business Number (BN) and set up your corporate tax account, GST/HST account, and payroll account if needed.
01Maintain accurate financial records of all income, expenses, invoices, and receipts throughout the year — this forms the basis for your tax return and deductions.
02Determine your taxable income after allowable deductions such as salaries, rent, utilities, and business expenses.
03File your T2 Corporate Income Tax Return (or T1 for sole proprietors) within six months of your fiscal year-end.
04Keep records for at least six years and be prepared for possible CRA reviews or audits to ensure ongoing compliance and transparency.
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