Toronto CPA Guide · Corporate Tax Filing Cost
How Much Does Corporate Tax Filing Cost in Toronto?
Toronto corporate tax filing (T2) ranges from $400 to $5,000+ depending on the provider, your corporation's revenue, complexity and what is included. Most Toronto small businesses pay between $400 and $2,500. This guide breaks down exactly what drives the cost, what each provider includes at each price point and where Gondaliya CPA fits: from $400 with financial statements, all CRA schedules and FREE CRA audit support. No hourly billing. Fixed flat fee. 900+ five-star reviews.
The Short Answer: What Toronto Businesses Actually Pay
| Provider Type | Typical T2 Filing Fee in Toronto | What Is Usually Included | What Is Usually Extra |
|---|---|---|---|
| Big 4 firm (Deloitte, PwC, EY, KPMG) | $3,000 to $15,000+ | T2 return, financial statements, GIFI, all schedules, partner review, audit-ready file. | Tax planning, CRA correspondence, advisory. Billed hourly ($300 to $700/hour) on top of the filing fee. |
| Mid-size Toronto CPA firm (10 to 50 staff) | $1,500 to $5,000 | T2 return, financial statements, GIFI, standard schedules. CRA correspondence may be included for simple queries. | Tax planning, SR&ED, complex schedules (Schedule 8 CCA, Schedule 91 foreign income), CRA audit. Billed hourly ($200 to $400/hour). |
| Solo CPA / small firm (1 to 5 staff) | $800 to $2,500 | T2 return, financial statements, GIFI, standard schedules. Often includes basic CRA support. | Tax planning, complex transactions, CRA audit representation. Pricing varies. Some charge hourly, some charge per project. |
| Online / virtual accounting firm | $500 to $1,500 | T2 return, financial statements, GIFI. May not include all schedules. Communication via email or chat only. | Phone support, CRA correspondence, amendments, complex schedules, meeting with a CPA. Some charge per interaction. |
| Gondaliya CPA | From $400 | T2 return, financial statements, GIFI, all CRA schedules, T2 Short or T2 as required, Schedule 1, 8, 50, 100, 125, 141 and all applicable schedules. CRA audit support FREE. Phone, email and video available. | Nothing for standard T2 filing. Tax planning sessions available for bookkeeping clients. No hourly billing. Fixed flat fee quoted in advance. |
Gondaliya CPA: The Most AFFORDABLE Corporate Tax Filing in Toronto. Our T2 corporate tax filing starts from $400 including financial statements, all CRA schedules and FREE CRA audit support. No hourly billing. No surprise invoices. The fee is fixed, flat and quoted before we start. 30-Day Money-Back Guarantee. 60-Day Fees-Matching Policy. 900+ five-star reviews. Corporate Tax Return Filing →
What Affects Corporate Tax Filing Cost in Toronto
| Factor | Lower Cost | Higher Cost |
|---|---|---|
| Revenue | Under $100,000. Simple income, few transactions, minimal schedules. | Over $500,000. More transactions, more schedules, more time to review and reconcile. |
| Number of transactions | Under 200 per year. Fewer bank transactions, simple reconciliation. | Over 1,000 per year. Multiple bank accounts, credit cards, payment processors, delivery platforms. |
| Industry complexity | Consulting, freelancing, professional services. Simple revenue structure, few asset categories. | Construction (WIP, holdback, T5018), restaurants (tip reporting, POS reconciliation), manufacturing (inventory, COGS, CCA), real estate (rental income, capital gains, HST on new builds). |
| Bookkeeping status | Books are current, reconciled and organized (QBO or Xero up to date). The CPA can start the T2 immediately. | Books are behind, unreconciled or non-existent. The CPA must do catch-up bookkeeping before the T2 can be prepared. This adds $500 to $3,000+ depending on how far behind. |
| Number of shareholders | 1 shareholder. Simple salary/dividend mix. No shareholder loan complexity. | Multiple shareholders. Salary/dividend allocation, shareholder loans (section 15(2) benefit risk), inter-company transactions, holding company structure. |
| CRA schedules required | Standard schedules: Schedule 1, 8, 50, 100, 125, 141. | Complex schedules: Schedule 91 (foreign income), Schedule 89 (GRIP), Schedule 9 (related and associated corps), SR&ED forms, Part III.1 (excess eligible dividends), loss carry-forward/back applications. |
| Year-end month | Standard corporate year-end. Filings spread throughout the year. | December 31 year-end. Peak season. Some Toronto firms charge a premium for December year-ends because all T2s are due by June 30. |
| Provider billing model | Fixed flat fee. You know the cost before the work begins. | Hourly billing. Every email, phone call, CRA letter and question is billed at $200 to $500/hour. Final invoice often 30% to 50% higher than the estimate. |
Gondaliya CPA Corporate Tax Filing: Pricing by Revenue
We price corporate tax filing based on your corporation's annual revenue. The fee is fixed, quoted in advance and includes everything listed below. No hourly billing. No extras for CRA correspondence. No surprise charges.
| Corporation Revenue | T2 Filing Fee (including HST) | What Is Included |
|---|---|---|
| Under $100,000 | From $400 | Financial statements, T2 return, GIFI, all standard schedules, e-filing, CRA audit support FREE |
| $100,000 to $200,000 | $2,768 to $4,152 | Financial statements, T2 return, GIFI, all schedules including Schedule 8 (CCA), shareholder loan review, e-filing, CRA audit support FREE |
| $200,000 to $500,000 | $4,152 to $5,537 | Financial statements, T2 return, GIFI, all schedules, inter-company reconciliation (if holding corp), salary/dividend optimization letter, e-filing, CRA audit support FREE |
| $500,000 to $1,500,000 | $5,537 to $6,780 | Financial statements, T2 return, GIFI, all schedules, complex CCA (multiple classes), associated corporation analysis, GRIP/LRIP calculation, e-filing, CRA audit support FREE |
| Over $1,500,000 | From $900/month (retainer) | Monthly financial statements, quarterly review meetings, T2 return, all schedules, tax planning, CRA audit support FREE, dedicated CPA assigned |
T2 Filed FREE for Every Bookkeeping Client: If you use Gondaliya CPA for monthly bookkeeping (from $150/month), your T2 corporate tax return is filed FREE every year. No additional charge. The bookkeeping fee covers bank reconciliation, expense categorization, HST filing and monthly financials. The T2 is included at no extra cost because your books are already current and organized when year-end arrives. This is the most cost-effective approach for any Toronto corporation.
Corporate Tax Filing from $400. CRA Audit Support FREE.
Fixed flat fee. No hourly billing. 30-Day Money-Back Guarantee. 60-Day Fees-Matching Policy. 900+ five-star reviews.
What Should Be Included in a Corporate Tax Filing Fee
Not all Toronto CPAs include the same deliverables. Some quote a low fee but exclude financial statements, CRA schedules or audit support. Others include everything but bill hourly for any CRA correspondence. Here is what you should receive for every T2 filing and what Gondaliya CPA includes at every price tier.
| Deliverable | Gondaliya CPA | Many Other Toronto Firms |
|---|---|---|
| Financial statements (balance sheet, income statement, retained earnings) | Included at every tier. | Usually included. Some online providers charge separately ($200 to $500). |
| T2 corporate income tax return | Included. | Included (this is the core service). |
| GIFI (General Index of Financial Information) | Included. | Usually included. Some budget providers skip GIFI and file T2 Short only. |
| All applicable CRA schedules (Schedule 1, 3, 4, 7, 8, 50, 100, 125, 141) | All included. Every schedule your corporation requires is prepared and filed. | Standard schedules included. Complex schedules (Schedule 8 CCA amendments, Schedule 91 foreign income, loss carry applications) may be billed separately ($100 to $500 per schedule). |
| Schedule 8 (Capital Cost Allowance) | Included. Full CCA continuity schedule. Immediate Expensing applied where eligible. | Often included for simple CCA. Complex CCA (multiple classes, dispositions, recapture) may be billed extra. |
| Salary/dividend optimization review | Included for revenue tiers above $100,000. Written recommendation letter for salary vs. dividend split. | Usually billed separately as "tax planning" ($500 to $2,000). |
| Electronic filing (e-filing) with CRA | Included. Immediate confirmation of receipt. | Should be included by every provider. Paper filing is almost never used. |
| CRA correspondence (simple inquiries, requests for information) | Included at no extra charge. We respond to standard CRA letters on your behalf. | Many firms charge hourly ($200 to $400/hour) for any CRA interaction beyond the filing itself. |
| CRA audit support | FREE for every client. If CRA audits or reviews your T2, we respond, provide documentation and represent you. No additional fee for standard audits. | Charged at hourly rates ($200 to $500/hour). A standard CRA audit response costs $1,000 to $5,000+ at most Toronto firms. Our audit support page: CRA Audit Support → |
Hidden Fees Other Toronto Firms Charge
| Hidden Fee | How It Adds Up | Gondaliya CPA |
|---|---|---|
| Hourly billing for "out of scope" questions | You email your CPA a question about a shareholder loan. They bill 0.5 hours at $300/hour ($150) to answer. 10 questions per year: $1,500 in extra charges on top of the T2 fee. | Fixed fee. Questions about your T2 filing are included. No hourly billing. |
| CRA correspondence billed separately | CRA sends a review letter requesting documentation for a deduction. Your CPA charges $200 to $400/hour to respond. A 3-hour response: $600 to $1,200 on top of the filing fee. | CRA correspondence included at no extra charge. CRA audit support FREE. |
| Catch-up bookkeeping not disclosed upfront | You bring your books to a new CPA. The books are 6 months behind. The CPA quotes $1,200 for the T2 but then invoices $3,500 because they had to do catch-up bookkeeping first. The catch-up was not disclosed in the original quote. | We review your books before quoting. If catch-up bookkeeping is needed, it is quoted separately and approved before we start. No surprises. |
| Complex schedule surcharges | Your T2 requires Schedule 8 (CCA), Schedule 9 (related corporations) and a loss carry-back application. The CPA charges $150 per additional schedule. Three complex schedules: $450 extra. | All applicable schedules included in the flat fee. No per-schedule surcharges. |
| Year-end premium (December 31 year-ends) | Some Toronto firms charge 15% to 25% more for December 31 year-ends because they are due during peak season (June 30 filing deadline). On a $2,000 T2: $300 to $500 premium. | No year-end premium. Same fee regardless of your fiscal year-end date. |
| Amendment fees | CRA reassesses your T2 or you discover an error that requires an amended return. Your CPA charges $300 to $800 for the amendment. If CRA caused the error, you still pay. | If the amendment is needed due to our error, we file it at no charge. If CRA initiates a reassessment, we respond as part of our FREE CRA audit support. |
Corporate Tax Filing Deadlines in Toronto
| Deadline | Details | Penalty for Missing |
|---|---|---|
| T2 filing deadline | 6 months after the end of your corporation's fiscal year. December 31 year-end: due June 30. March 31 year-end: due September 30. | 5% of the balance owing plus 1% per month for up to 12 months. If you filed late in the last 3 years: 10% plus 2% per month for up to 20 months (maximum 50%). |
| Tax payment deadline (CCPC) | 3 months after the fiscal year-end if the corporation qualifies for the Small Business Deduction and had taxable income under $500,000 in the prior year. December 31 year-end: due March 31. | Interest at CRA's prescribed rate (approximately 9% to 10%, compounding daily) on any unpaid balance from the payment deadline. |
| Tax payment deadline (non-CCPC or large CCPC) | 2 months after the fiscal year-end. December 31 year-end: due March 1 (or February 28/29 in a leap year). | Same interest on unpaid balances. |
| Nil return requirement | Even if your corporation had no revenue, no expenses and no activity during the year, you must still file a T2 return. CRA requires a nil return for every active corporation. | Same late filing penalty applies. $0 balance owing means no penalty, but CRA may restrict the corporation's status or revoke business number privileges for repeated non-filing. |
File On Time Even If You Cannot Pay: The late filing penalty (5% + 1%/month) applies only to the balance owing. If you file on time but cannot pay the full amount, you owe only interest on the unpaid balance (no penalty). If you file late, you owe both the penalty and the interest. Filing on time and setting up a payment arrangement with CRA always costs less than filing late. We file every T2 before the deadline and help clients negotiate payment arrangements when needed.
Why Gondaliya CPA Is the Most AFFORDABLE Corporate Tax Filing in Toronto
| Feature | Gondaliya CPA | Typical Toronto CPA Firm |
|---|---|---|
| T2 starting price | From $400 | $800 to $2,500 |
| Billing model | Fixed flat fee. Quoted before we start. No hourly billing. | Hourly ($200 to $500/hour) or fixed fee with scope exclusions. Final invoice often exceeds the quote. |
| Financial statements | Included at every tier. | Usually included. Some online firms charge separately. |
| All CRA schedules | All applicable schedules included. No per-schedule surcharges. | Standard schedules included. Complex schedules billed extra ($100 to $500 each). |
| CRA correspondence | Included. No extra charge. | $200 to $400/hour. A simple CRA response can cost $600+. |
| CRA audit support | FREE. We respond to CRA audits and reviews at no additional fee. | $200 to $500/hour. Standard audit response: $1,000 to $5,000+. |
| T2 FREE for bookkeeping clients | Yes. Monthly bookkeeping from $150/month includes T2 at no extra charge every year. | T2 billed separately even if you use the firm for bookkeeping. $800 to $2,500 on top of monthly fees. |
| 30-Day Money-Back Guarantee | Yes. If you are not satisfied within 30 days, we refund the fee. | No refund policy at most firms. |
| 60-Day Fees-Matching Policy | Yes. If you receive a lower quote from another licensed CPA for the same scope of work within 60 days, we match it. | No fees-matching at most firms. |
| Google reviews | 900+ five-star reviews. | Most Toronto CPA firms have 10 to 50 reviews. |
Toronto's Most AFFORDABLE Corporate Tax Filing. From $400.
Financial statements, T2, all schedules, CRA audit support FREE. 30-Day Money-Back. 60-Day Fees-Matching.
What a T2 Corporate Tax Return Actually Includes
Many Toronto business owners do not know exactly what their CPA produces when they file a T2. Here is a complete list of the deliverables you should receive.
| Component | What It Is |
|---|---|
| Financial statements | Balance sheet (assets, liabilities, equity), income statement (revenue, expenses, net income) and statement of retained earnings. These are the foundation of the T2. The T2 cannot be filed without them. |
| T2 corporate income tax return | The main CRA form. Reports taxable income, tax payable, credits, refunds and carry-forwards. Filed electronically with CRA. |
| GIFI (General Index of Financial Information) | A standardized chart of accounts that maps your financial statements to CRA's coding system. Required for all T2 filings. |
| Schedule 1 (Net Income for Tax Purposes) | Reconciles accounting net income to taxable income. Adds back non-deductible expenses. Deducts non-taxable items. |
| Schedule 8 (Capital Cost Allowance) | Calculates CCA (depreciation) on all capital assets: vehicles, equipment, computers, furniture. Tracks UCC (undepreciated capital cost) by class. Applies Immediate Expensing where eligible. |
| Schedule 50 (Shareholder Information) | Lists all shareholders holding 10% or more of any class of shares. Required for all CCPCs. |
| Schedule 100 (Balance Sheet) | Maps the balance sheet to CRA's standardized format using GIFI codes. |
| Schedule 125 (Income Statement) | Maps the income statement to CRA's standardized format using GIFI codes. |
| Schedule 141 (Financial Statement Notes Checklist) | Confirms the type of financial statement preparation (compilation, review, audit) and identifies related-party transactions. |
| Additional schedules (as applicable) | Schedule 3 (dividends received), Schedule 4 (corporate tax reduction), Schedule 7 (aggregate investment income), Schedule 9 (related and associated corporations), Schedule 89 (GRIP), loss carry-forward/back applications, and any other schedules required by your corporation's specific situation. |
Every one of these components is included in Gondaliya CPA's corporate tax filing fee. There are no per-schedule surcharges. For a detailed overview of our corporate tax filing process, visit our tax preparation and filing page or our corporate tax return filing page.
Frequently Asked Questions: Corporate Tax Filing Cost in Toronto
How much does corporate tax filing cost in Toronto?
Toronto corporate tax filing (T2) ranges from $400 to $5,000+ depending on the provider, revenue, complexity and what is included. Big 4 firms: $3,000 to $15,000+. Mid-size firms: $1,500 to $5,000. Solo CPAs: $800 to $2,500. Online providers: $500 to $1,500. Gondaliya CPA: from $400 including financial statements, all CRA schedules and FREE CRA audit support. Know Your Exact Fee →
What is the cheapest corporate tax filing in Toronto?
Gondaliya CPA offers corporate tax filing from $400 for corporations with revenue under $100,000. This includes financial statements, T2 return, GIFI, all CRA schedules, e-filing and FREE CRA audit support. No hourly billing. Fixed flat fee. 30-Day Money-Back Guarantee. 60-Day Fees-Matching Policy. Corporate Tax Filing →
What is included in the $400 T2 filing fee?
Financial statements (balance sheet, income statement, retained earnings), T2 corporate income tax return, GIFI, Schedule 1, Schedule 8 (CCA), Schedule 50, Schedule 100, Schedule 125, Schedule 141 and all other applicable schedules. Electronic filing with CRA. CRA correspondence included. CRA audit support FREE. Tax Preparation and Filing →
Is the T2 free if I use Gondaliya CPA for bookkeeping?
Yes. The T2 corporate tax return is filed FREE for every bookkeeping client. Monthly bookkeeping starts from $150/month and includes bank reconciliation, expense categorization, HST filing and monthly financials. The T2 is included at no extra charge because your books are already current when year-end arrives. This is the most cost-effective approach for any Toronto corporation.
When is my T2 due?
6 months after the end of your corporation's fiscal year. December 31 year-end: June 30. March 31 year-end: September 30. Tax payment is due 2 months after year-end (3 months for CCPCs under $500,000 prior-year income). Late filing penalty: 5% of balance owing plus 1% per month for up to 12 months.
Do I need to file a T2 if my corporation had no revenue?
Yes. CRA requires a T2 return for every active corporation, even with no revenue, no expenses and no activity. A nil return confirms the corporation is active and preserves your business number privileges. Gondaliya CPA files nil returns from $400. Dormant corporations with no activity: $350 per year.
Does Gondaliya CPA charge hourly?
No. We use fixed flat fees for every service. The fee is quoted before we start and does not change regardless of how many questions you ask, how many CRA letters we respond to or how complex the filing becomes. No hourly billing. No surprise invoices. No scope-change surcharges.
What if CRA audits my T2?
CRA audit support is FREE for every Gondaliya CPA client. If CRA reviews or audits your T2 return, we respond on your behalf, provide documentation, prepare the response package and represent you. No additional fee for standard CRA audits and reviews. Most Toronto CPA firms charge $200 to $500/hour for audit support ($1,000 to $5,000+ for a standard response). Corporate Tax Filing →
What is the 60-Day Fees-Matching Policy?
If you receive a lower quote from another licensed CPA for the same scope of work within 60 days of signing with Gondaliya CPA, we match it. The scope must be equivalent: same deliverables, same schedules, same CRA audit support. This policy exists because we are confident our fees are the most AFFORDABLE for any licensed CPA in Toronto.
How do I get started?
Book a free consultation or use our pricing calculator to get your exact fee before we start. We review your corporation's revenue, complexity and bookkeeping status, then quote a fixed flat fee. No obligation. No pressure. Book Free Consultation →
Corporate Tax Filing from $400. CRA Audit Support FREE.
Gondaliya CPA is the most AFFORDABLE corporate tax filing service in Toronto. Financial statements, T2, all CRA schedules, e-filing and FREE CRA audit support. Fixed flat fee. No hourly billing. 900+ five-star reviews.
Licensed CPA Ontario
900+ Five-Star Reviews
From $400
CRA Audit Support FREE