Corporation

• The right to use your company's name across Canada

• Limited liability protection

• Lower corporate tax rates than individuals

• Access to loans and grants

As well as filing your annual corporate tax returns a company must keep accurate financial records at all times in case they are audited. Canadian businesses with overseas investments must also file a T1134 form. Failure to comply can result in a substantial penalty. The Canadian government has made it a point to aggressively pursue companies that avoid taxes, often through sophisticated legal matters.