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Forming a corporation carries many benefits. These include:

  • The right to use your company‚Äôs name across Canada
  • Limited liability protection
  • Lower corporate tax rate than for 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. 

If you want to take the stress out of forming a business and maintaining its financial records, please contact us to see how we can help. 


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