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What is a Form 2 in Ontario for a corporation?
Ceasing to carry on business in Ontario If the corporation decides to cease carrying on business within the province of Ontario, the corporation must file an Initial Return/Notice of Change, Form 2, under the Corporations Information Act with the Central Production and Verification Services Branch.
How do you change ownership of a corporation in Canada?
Whenever one of the owners, partners or directors of your business changes, it is important that you call us at 1-800-959-5525. Depending on the structure of your business, a change of owner could trigger a legal name change or require the registration of a new business number and new program accounts.
Can a corporation have a PO Box as an address Canada?
Note. The address cannot be a post office box. The number of directors must correspond with the minimum and maximum number, or fixed number, of directors indicated in the articles of the corporation. At least 25 percent of the directors must be resident Canadians.
How do I file a T2?
The T2 form is available online as a PDF file you can complete online or print for mailing/delivery to the CRA. You can find the form through CRA’s online Corporation Internet Filling service. You can also use third-party tax prepares to help you find and complete T2 income statement submissions.
How do I transfer shares in a corporation in Ontario?
Other than a Directors Resolution, other documentation required in a transfer of shares include:
- Share Purchase Agreement – to the extent the shares are purchased by another, this must be recorded in an SPA which detail the price per share and other matters.
- Directors resolution approving the SPA.
Can I use PO Box for CRA?
If you’d like, you can enter your PO Box and your RR number in the Street number and name field. The CRA will use the address information they already have for you on file. They will not update your mailing address based on what you enter on your return.
What is an annual return for corporation?
What is an Annual Return? A corporate annual return is an obligation by all companies to file certain documentation with the government. The requirements for annual returns can differ from jurisdiction to jurisdiction but generally look to confirm information about a legal entity such as: The Directors.
Can I file my own T2?
In short, YES, you can prepare your corporate tax return, and file it with the CRA. There is no requirement to have an accounting degree or experience to do it. So if you want to do it yourself for free, follow this article to get more details about preparing your T2 tax return and filing it with the CRA.
Do you need an accountant to file a T2?
You do not require an accountant to file a T2 corporate income tax return. However, it is always recommended to work with a certified tax accountant, even by the CRA itself.
How do I resign as a director of a corporation in Ontario?
Shareholders can remove a director by resolution at a special general meeting by a majority vote. A director can resign at any time by giving notice to that effect. It is generally recommended that a corporation require a director’s resignation to be in written form for purposes of proof.