Corporate Income Tax

Any business looking to reduce payroll administration and increase overall efficiency would benefit from using RNS Payroll services. Handling Payroll has never been easier, OUTSOURCE your payroll administration to RNS

RNS professionals will take care of your payroll Weekly, Bi-Weekly or Monthly payroll remittances (PD7A). RNS also can help you to prepare T4, T4a and Summary in an affordable way to get it done right at the first time and every time,

RNS Accountants are accomplished in compliant payroll processing and in keeping track of payroll regulation. RNS can help you effectively integrate your payroll services through consolidation and preparation.

RNS can register any type of Business such as sole proprietorship, partnership, or corporation on the same day with Reasonable Fees.

Sole Proprietorship is the simplest form of starting a business. Only one owner is responsible for making all of the decisions and, consequently receives all the profits, but also assumes all of the risks.

RNS can do Sole Proprietorship registration of new business names in a business day. Renewal of existing business names takes one to two weeks. We also will notify you when the renewal of registration is due, normally Ontario business name registration is valid for 5 years.

Partnership is a relationship between two or more persons carrying on a business. The body is usually more complex than sole proprietorship and there is more than one owner to share in the profit and/or losses.

RNS can establish either a general partnership or limited partnership for you, with a proper partnership agreement in place.

Generally, a Partnership neither pay income tax on its Income nor file an income tax return. Instead, each partner files an income tax return to report their share of the partnership's net income or loss. RNS will help the partners file T5013 Statement of Partnership Income and also help to claim Capital Cost Allowance (CCA) on own depreciable property.

Corporation is a legal entity that has its own legal personality which is different from shareholders, and the individuals who manage and run business are called directors or officers.

RNS can identify to choose a name for your corporation through NUANS (New Upgraded Automated Name Search), unless you're going to be operating a numbered company. We will help you to establish the initial registered office address and first board of directors and will ascertain the directors meet the eligibility requirements.

RNS will register the corporation on your behalf with the completed Articles of Incorporation, the covering letter, and a current NUANS name search which shows the name searched, the NUANS reservation reference number, and the NUANS date, as well as with the appropriate fee.

All resident corporations apart from registered charities, need to file a T2 Return for every tax year, even if there are no taxes payable.

This Includes: Non-Profit Organizations, Tax Exempt Corporations, Inactive Corporations, Non-Resident Corporation

Corporate Tax Schedules
Some of the commonly filed Corporate Tax Schedules we assist clients with are:

Schedule 1- Net Income (Loss) is converted to taxable Income (Loss)

Schedule 2- Charitable Donations

Schedule 3- Dividends Received and Paid by the corporation

Schedule 4- Corporation Losses to be carried back or forward

Schedule 6- Summary of Disposition of Capital Property

Schedule 8- Capital Cost Allowance (CRA Depreciation of Capital Assets)

Schedule 9- Related and Associated Corporations

Schedule 10- Depreciation of Intangible Assets

Schedule 19- Non Resident Shareholder Information

Schedule 24- First Time Filer after Incorporation

Schedule 29- Payments to Non-Residents

Schedule 50- Shareholder Information

GIFI Schedules 100, 101, 125, 141- Equivalent of Balance Sheet and Income Statements

Many other Provincial Schedules from Ontario, Alberta, and British Columbia