T2 CORPORATION INCOME TAX RETURN
WHAT ARE T2 CORPORATION INCOME TAX RETURNS?
This is the document filed by your Accountant to CRA for an Incorporated business.
WHY DO LENDERS REQUIRE THE T2?
They require the gross income and the net income of the business as well as the outline of the expenses claimed by your Accountant and proof that there are no outstanding income taxes owed to CRA by the business. For self-employed individuals, this document may allow us to “add back” certain expenses into your income in order to better qualify you for financing.
HOW CAN I OBTAIN T2?
T2 general should be in your tax file but can also be received or completed through an accountant, tax company (ie H&R Block) or by the individual that submitted your taxes.
Note: these documents are NOT on the CRA website and CAN NOT be obtained by logging in to CRA.