|Canadian Income Tax FAQ For Small Businesses|
by Susan Ward
Q. My business is incorporated. Do I still need to file a T1 income tax form?
A. Yes. You are not a corporation. A corporation is a separate legal entity. It can own property and enter into contracts in its own name.
So even if you run an incorporated business, you must still file your individual income tax (T1 tax return).
All corporations, except for corporations that were registered charities throughout the year, must file a T2 corporate tax return every year, even if there is no tax payable.