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Corporate Tax Accountant in Toronto
CPA-led T2 preparation and e-filing for Toronto corporations, at a published flat price: from $800 for a simple T2 and from $249 for a nil return, plus HST/GST. T2 returns from $800.
- CPA-led by Wajahat Ajmal, CPA, FCCA
- Price matching, when agreed before you sign our proposal
- No surprise bills: the price is fixed before we start
- We reply within one business day
Corporate tax for Toronto corporations
Toronto has more incorporated consultants, tech workers and professionals than anywhere else in the country, and many of them run one-person corporations. For those owners the T2 questions are rarely about the form. They’re about whether the corporation risks being treated as a personal services business, how much to take as salary or dividends, and whether a holding company or a condo bought through the company was recorded properly.
I’m Wajahat Ajmal, CPA, FCCA. T-Ledgers is a CPA-led accounting firm practising since 2020, and our home office is on Skyway Avenue in Etobicoke, inside the City of Toronto. Most Toronto corporations we file for never need to visit: you share your year-end numbers, we prepare the return, and a CPA reviews it before anything is filed.
Toronto corporations we file for most often: one-person IT, marketing and consulting companies, professional corporations, holding companies with investments or a rental condo, restaurants and retail, and renovation contractors.
Toronto rules that affect your T2
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| Local rule | How it shows up on your T2 | Official source |
|---|---|---|
| Municipal Land Transfer Tax (MLTT) | Charged on top of Ontario land transfer tax when a corporation buys Toronto property. Both go into the property’s cost, which affects capital cost allowance and the gain on a later sale. | City of Toronto MLTT |
| Vacant Home Tax | Corporations that own Toronto residential property must declare each year too. A home with no declaration can be charged 3% of its assessed value. We check how any charge is treated before the T2 is filed. | City of Toronto Vacant Home Tax |
| City of Toronto business licences | Building renovators, food businesses, personal service settings and many other types need a City licence. Fees are deducted in the year paid. | Toronto licence and permit types |
Law: City of Toronto Act, 2006 s.86(1) (business licensing); City of Toronto Act, 2006 s.267(1) (City taxes, incl. MLTT and Vacant Home Tax); Land Transfer Tax Act s.2(1) (Ontario land transfer tax); Health Protection and Promotion Act s.16(1) (food premises).
A typical Toronto T2
An illustrative example (not a client story). A Toronto developer’s one-person corporation bills a single client through an agency and holds a downtown condo it rents out. On the T2 we look at whether the contract looks like employment (the personal services business risk), report the rental income as property income rather than active business income, put the purchase price plus Ontario and Toronto land transfer tax into the condo’s cost, and reconcile the shareholder loan. Then we plan the salary and dividend mix and next year’s instalments.
For Toronto’s one-person IT and consulting corporations, we review the contract terms before filing.
What our T2 service covers
- Full T2, schedules and GIFI
- CPA review and e-filing
Scope, deadlines and the 11.2% small business rate are on our main corporate tax (T2) page.
Law: Income Tax Act s.150(1) (filing returns); Income Tax Act s.157(1) (payment by corporation); Income Tax Act s.125(1) (small business deduction); Income Tax Act s.162(1) and (7.2) (late filing and e-filing penalties); Ontario corporate income tax rates.
Corporate tax pricing in Toronto
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| Service | Price |
|---|---|
| T2 return | ✓From $800 |
| Nil T2 | ✓From $249 |
| SR&ED claim, prepared end to end (including the T661) | Quoted after consultation |
| Catch-up years | Included in catch-up bookkeeping, from $1,800 per year |
CAD, plus HST/GST. See plans and pricing.
Meetings in person are at our Etobicoke office (inside the City of Toronto) or our Mississauga office, by appointment.
Reviewed by Wajahat Ajmal, CPA, FCCA. Updated October 14, 2026. Official sources checked October 2026.
Corporate tax in Toronto: FAQs
Do you file T2 returns for Toronto corporations?
Yes, for operating, holding and professional corporations across Toronto. Most work is done online, and meetings are available at our Etobicoke office, inside the City of Toronto, by appointment.
How much does a corporate tax return cost in Toronto?
From $800 plus HST/GST for a simple T2 and from $249 for a nil T2 with no activity. Anything beyond a simple return is quoted before we start. Our monthly bookkeeping plans include the T2.
My corporation owns a Toronto condo. What changes on the T2?
Rental income is usually property income, which doesn’t get the small business rate, and the purchase cost includes both land transfer taxes. We also check the Vacant Home Tax declaration history.
Am I at risk as a one-person consulting corporation?
If the work looks like employment, the CRA can treat the corporation as a personal services business, which loses the small business rate and most deductions. We review the arrangement before we file.
Ready to get your T2 off your desk?
Whether your year-end just passed, you’ve got a nil return to file for a holding company, or you’re a few years behind and dreading it, the first step is a free 30-minute call with a CPA. We’ll look at where things stand and send a fixed price, mostly within one business day. If you have a comparable written quote, show it to us before you sign and we’ll match it.
Call (866) 254-5368 or email info@tledgers.ca. A 24/7 receptionist answers, so a real person picks up.