Filing T2 Tax Nil Report For Free | How To File Tax Returns For Free |🔥

Filing T2 Tax Nil Report For Free | How To File Tax Returns For Free |🔥
How to file T2 nil report for free step by step | How to file t2 tax return in Canada for free | How to file t2 taxes in under 30 minutes | How To file t2 taxes online | Canada Tax filing for Incorporation 🔥
In this video I’m going to give you a step-by-step guide on how to file T2 taxes nil report using the t2 editable form available on www.canada.ca website. taxes online as student in Canada using Wealth simple Tax. In this Canadian Incorporation Tax Return, I will cover T2 complete 9 page form!
Here are some useful links
Certified Tax filing software bit.ly/3ujlqwj
Where to send Corporation tax form bit.ly/3N7aY3v
Download T2 editable form bit.ly/3Jx9AF0
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I have been documenting my journey on my website where you can find really useful resources. canadatriedand...
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Wealthsimple allows you to easily file your personal taxes at no cost. Wealthsimple Tax is easy to use and guides you through your tax return. New for this tax season, Wealthsimple Tax has added a crypto gains calculator. This feature will seamlessly link to over 300 crypto exchanges and wallets, calculating your capital gains/losses to be added to your return. If you enjoyed this video, make sure to give it a like and subscribe to the channel for such insightful videos.
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Watch Next:
▶ Incorporation in Canada bit.ly/3K2QiY9
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Disclaimers
This channel is for education purposes only and opinions expressed in this video are based on personal research and should be treated as such. These are not instructions, suggestions, nor directions as to how to handle your money. The facts and figures presented in this video are up-to-date based on the recording. These may have changed based on when you watch the video Please, always do your own due diligence!
This video description contains affiliate links, meaning that if you click on a product link, I may receive a commission at no additional cost to you. I do not promote products, services or companies I have not personally used or those which I do not recommend. All opinions are my own.
#T2Tax
#Canada _Tried_And_Tested
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[@canadatriedandtestedoriginal]

Don't Forget To Subscribe: bit.ly/3oaNmOC 🎯 . I have tried to give all relevant link and info in description so do check that too. I am a big Do it yourself enthusiast and keep trying and sharing my experience with you all.

[@gurpreetmann6629]

Sir I have to file my NIL report for past 5 Years I have no activity I have already file my gst/hst The CRA agent on my email send me T2 short 19e. It has only 4 pages Can you please look into this Thanks 🙏 you are enormous help

[@canadatriedandtestedoriginal]

Hi Gurpreet T2 short should be easy once you go through the video which is here. Let me see if I can make a T2 short video too

[@gurpreetmann6629]

​@@canadatriedandtestedoriginal Please scroll 📜 down the link I sent you to see T2 Short-19e pdf file Thanks 🙏

[@gurpreetmann6629]

​@@canadatriedandtestedoriginal Sir have you looked at the form I sent you Sir ???? 🙏🙏🙏

[@canadatriedandtestedoriginal]

Hi Gurpreet the one you shared is a shorter version. You would still be able to do nil report watching my video. Is there a problem?

[@a.b.1991]

best video brother. Don't delete it ever. I watch it every year for filing taxes

[@canadatriedandtestedoriginal]

No way. Thank you

[@Sam-eq4wh]

God bless this man. Hope he wins lotto max or 6/49 soon. Bloody accountants are scammers here. Knowledge is power. Thank you

[@canadatriedandtestedoriginal]

Thank you Sam. I am glad this was helpful. Hope you all keep me in prayers

[@Sam-eq4wh]

@@canadatriedandtestedoriginal Will certainly keep you in prayers. Have one corporation with no activity and another as company driver for trucking so that one will be a bit tricky but just got the nil returns out of the way. My dream is to get a team from India to build apps but very difficult to recruit anyone honest that understands my vision. These greedy corporations that are worth billions and never give back to the people should be taken down and someone like you that works for the people deserves to be PM of Canada or India.

[@ZZ-ev2ed]

Thank you for this video! I've watched a few and have now subscribed. Really appreciate your walk-throughs. You've given me a lot of confidence to get things started.

[@canadatriedandtestedoriginal]

Thank you for investing on you

[@forcanada7747]

my friend thank u so much ! my company made just 2000$ for the enitre year , but you helped me alot ! i dont even have to pay for accountant they asked for 500$ or even more . u r amazing

[@canadatriedandtestedoriginal]

If you have income you will have to carefully see your inflow as well as outflow including taxes you owe to CRA and statutory requirements. Please do your due diligence and take informed decision.

[@theblobinc]

Awe dude, thanks a bunch bud... This was a very useful video. It totally saved me $400!

[@beatriceleprince3755]

Thank you! This is very helpful. My corporate account wants to keep charging me to file a nil tax return!

[@canadatriedandtestedoriginal]

Thank you

[@ebadali5031]

Thanks a lot. I followed all the steps you mentioned in the video and I have also received the NOA. Thanks again and keep making such informative videos!

[@canadatriedandtestedoriginal]

Thank you. I am glad you could do it yourself

[@carrutste]

Wow! Thank you, sir! Very easy to understand and follow and with links included. Excellent video!

[@canadatriedandtestedoriginal]

Thank you

[@SoyGiorgio]

Amazing, thanks for creating this video. This was exactly what I was looking for. Very appreciated

[@canadatriedandtestedoriginal]

Glad it was helpful!

[@pppexplorer]

Thank you so much for this video. It was very helpful! 👍🏽

[@scsc7244]

Excellent video! To the point, clear and extremely helpful.

[@canadatriedandtestedoriginal]

Thank you

[@thehsnobs]

Thank you soooo much for making these videos! they are infinitely useful!

[@canadatriedandtestedoriginal]

Thank you

[@isharjeels]

Thank you for this video. I followed same steps to file and got assessment results.

[@canadatriedandtestedoriginal]

Thank you.

[@EmmanuelMonegroTKD]

Thank you so much for the help. It is my first time doing it and this video was a life saver.

[@canadatriedandtestedoriginal]

Thank you

[@neo681]

Thanks for the information, Are you remitting the corporation tax monthly , quarterly ? and how do you determine how much to remit ?

[@PronobeshKumarHalder]

Much Appreciated Sir ! It was a good video and helped me to file nil t2 tax

[@canadatriedandtestedoriginal]

Thank you

[@abimpy]

This is what my husband pays $100 for yearly. it didn't make sense to may that you would pay to file zero income tax. thanks so much, so glad I found your page.

[@canadatriedandtestedoriginal]

Thank you

[@k96602237]

Thank you so much for posting this video!

[@canadatriedandtestedoriginal]

Thank you

[@BrittniColleen]

Thank you! do you know what form we will need for Alberta?

[@canadatriedandtestedoriginal]

Hi corporations earning income in Quebec and Alberta must file separate provincial corporation income tax returns however I have not explored this part

[@Rubalmangat]

thank you. hope i have done it right as well

[@venkatap2724]

Thank you for this video, question, I have incorporated the business however I did not get business id? do I need to register after incorporation?

[@BeautifulTurkish]

In line 40, Should we select CCPC if we're residents of Canada?

[@juanmanuelgarcia199]

thanks for this video, have to submit a few NIL for a corporation I have not used in almost 10 years. Wondering why you picked to submit by mail instead of electronically?

[@canadatriedandtestedoriginal]

I guess online filing options are available only through approved software and none are free. Here you fill, take print and send by post. If there is a cheap option to file online I will be happy to know

[@aveshsaiyad3147]

Thank you so much Canada Tried and Tested

[@hyperfluous4751]

Many thanks, ur a life (and headache) saver!

[@canadatriedandtestedoriginal]

Thank you

[@claudine5787]

You're amazing!

[@muhammadzeeshannoor1701]

Thanku brother you did a great job.

[@thinkingstraight2309]

This is super helpful. Do I need to attach any other supporting documents when I send this in?

[@canadatriedandtestedoriginal]

I did not attach any .... just the T2

[@thinkingstraight2309]

@@canadatriedandtestedoriginal Awesome. Thanks a ton brother

[@owell6133]

You are amazing and so helpful!!

[@canadatriedandtestedoriginal]

Thank you 🙏 recently I saw comment that CRA don’t accept paper documents in some cases. Can you check the details please once

[@KwekuOA]

Great video. Wasn't it necessary to add financial statements (balance sheet, a statement of income and expenditure, even with zeroes) and mail them with the T2 form? Was that the case here?

[@canadatriedandtestedoriginal]

No if no such transaction happened

[@kulsumsamad3319]

and if transactions happened we need to send all that too? like the balance sheets and all the other 5 forms?@@canadatriedandtestedoriginal

[@SCRenovation]

THANK YOU, GOOD VIDEO

[@pawarj]

Thank you again for the video.. Highly recommended video for nil tax filing in Canada.

[@canadatriedandtestedoriginal]

Thank you

[@sidhdharthvirpariya442]

How if I want to file taxes from 2021 to 2023? Need to fill this separate forms for each year or else can do in single form?

[@kingb8797]

Thank you for the video❤. I have two questions. So after a file would I get a t2 form like the one we got after filing personal taxs. Question two I have made 700$ and spend 3000$ where can I enter that. Thanks

[@cfocus123]

How and where to include information about individuals with significant control as required by 2024 requirement.

[@aveshsaiyad3147]

one more thing I have heard that if you are filing Return nil (zero) you have to file only T2 short so I am confused now what should I do but as you said you also received notice of Assessment so I will trust you and file according as you have been shown in the video. Thank you sir

[@canadatriedandtestedoriginal]

I filled this long form T2. Yes you are correct if nil report you can file T2 short. I have shown in detail what I filled. You will be able to customise for short

[@gargrish]

nice video! can we also file HST on paper?

[@canadatriedandtestedoriginal]

Hey I am not sure about this

[@deen8682]

This video is so helpful. Thank you so much for sharing🙏🏾.

[@canadatriedandtestedoriginal]

Thank you. Check out the other Business related videos here. You might find it useful too

[@deen8682]

@@canadatriedandtestedoriginal If possible, can you do a video on voluntary corporation dissolution ourselves, when business never started and all nil returns have been filed. I can’t seem to see any videos on this on KZbin. Thanks😊

[@canadatriedandtestedoriginal]

Oh yes that’s quite easy. I will definitely have it ready in a weeks time.

[@deen8682]

@@canadatriedandtestedoriginal please 🙏🏾. Thank you. I filed all my nil returns following your video😊. Thank you so much!

[@malik6318]

@@deen8682 sounds like your plans changed? what happened you did not want to pursue the business?

[@akhileshreddy4610]

Can we upload T2 form online and get it done instead of sending it by post? Can you make a detailed video on that?

[@canadatriedandtestedoriginal]

I am not sure. I couldn’t see the online upload option

[@akhileshreddy4610]

@@canadatriedandtestedoriginal there is one to upload now. Maybe next you do file, you can help us😊.

[@canadatriedandtestedoriginal]

If online option exist, filing would still remain same. Instead of being sent to postal address it will directly get submitted digitally

[@abimpy]

Thank you, any idea how to file for previous years, like 2020. this form is for 2021 and later years?

[@canadatriedandtestedoriginal]

Please check if you can do. I am not sure

[@shivaramane]

Hi, where i can find the answer to this question? i dont remember the date when i open my corporation account. "If the corporation was eligible to remit instalments on a quarterly basis for part of the tax year, provide the date the corporation ceased to be eligible"

[@canadatriedandtestedoriginal]

Hi can you login to your corporation Canada site and check incorporation details? Also can you call CRA and see if you get some help?

[@canadatriedandtestedoriginal]

Hi did you get answer to this?

[@aminhimani4188]

Q: i made a corporation and had initial expenses paid by me? I filed t2 short with zero but thats not right... is there any video 8 can amend and file n show expenses out of pocket? N i can claim expenses from my personal account? Thanks

[@canadatriedandtestedoriginal]

Hi if there has been an expense you can show that however I have limited knowledge on this. An expert on this can help you

[@tenyka]

Thank you ❤

[@gaganbains2254]

Can I file my personal and corporation tax seperately or does it needs to be filed together?

[@canadatriedandtestedoriginal]

Personal tax is you and corporate is a company. Both are different. Do you mean proprietor business?

[@goldsupreme8543]

So if you simply send this T2 form by mail you don't have to use any tax programs? Thanks!

[@canadatriedandtestedoriginal]

For nil report yes

[@goldsupreme8543]

@@canadatriedandtestedoriginal thx!

[@RiyazMalam]

amazing information, just one question, what if there are two directors on one corporation? In certification area there's only space for one.

[@canadatriedandtestedoriginal]

Thank you my knowledge is limited. You may need someone expert on this

[@RiyazMalam-l5j]

@@canadatriedandtestedoriginal can we send T2 forms for different corporations in one folder?

[@angelavoita]

My Corporation year end was October 2, if I file NIL now, month later is there a penalty ? or how can I explain why I filed later ?

[@canadatriedandtestedoriginal]

Are you able to file Nil report now. Try once and also call CRA they are helpful and would give you input. BTW when you have zero income there is no tax default as per my logic however filing is must.

[@timchanux]

HELLO sir! I have a BC number instead of RC. How does that work?

[@canadatriedandtestedoriginal]

Hi I have not seen BC form however if there is no transaction 0 everywhere will work.

[@canadatriedandtestedoriginal]

Can you share link to the form please? I see T2 for BC too

[@timchanux]

@@canadatriedandtestedoriginal My form is the same as you. However, the business number I have is in the format: XXXXXXXXX BC0001 instead of RC at the end

[@nareshbabu2469]

Thankyou for your video , I am filing my T2 Corp Tax returns . I actually paid GST twice to CRA by mistake. So this amt will appear in Sch 100 GIFI 1066 as Assets from this year to all subsequent years , until CRA refunds it back ?

[@canadatriedandtestedoriginal]

Hi can you call CRA once to check if they will accept your paper return. I saw someone post that you need to file electronically now

[@olskhuu]

Don't you also have to attach a GIFI document for $0 asset + liabilities reporting as well?

[@canadatriedandtestedoriginal]

I did not do when I had zero tax and it has been 2 years.

[@randomguy957]

Thank you so much..Subscribed!

[@canadatriedandtestedoriginal]

Thank you. Sharing is caring

[@vinodkotiya]

Thanks It helped

[@canadatriedandtestedoriginal]

Thank you

[@sunny4u4270]

Excellent video . Thanks a lot for your guidance. I have made just a $100 sale, should I file it as Nil or where to populate this $100, please help me with the info TIA

[@canadatriedandtestedoriginal]

Hi Nil will be filed if there is no transaction. Can you check the tax form.

[@sahilk335]

Thank you for the vide! Subscriber +1

[@canadatriedandtestedoriginal]

Thank you

[@girish2477]

Thanks for this video. Do you have any suggestions or have video for extra provincial LLC's, who have T2 NIL return for first year. Do they have to attach schedule 97 along with T2 NIL return and form NR 303 ?

[@canadatriedandtestedoriginal]

Is yours non resident corporation? I have very limited knowledge on this. Also whey there be withholding tax if there was no inflow or outflow of money

[@girish2477]

Yes, its non-resident corporation. Since its first year of corporation and started in late 2023, there is no activity and hence zero income with 0 withholding. Even if there is income as Canada and USA has treaty it is advised to attach schedule 97 to T2 return. Hence little confused as if file NIL T2 return should it be accompanied with schedule 97.

[@canadatriedandtestedoriginal]

@girish2477 I have no knowledge on this

[@girish2477]

No worries. Thanks for your prompt response.

[@gurpreetmann6629]

Sir I have to file a NIL report on my tax returns but CRA agent look into my account shows me different form which is T2 Short-19e. Can you please look into this Sir. This form is only 4 pages long

[@amrinderghuman9412]

Hlo sir .I m confused with corporation no and business no! I have registered corporation for trucking but there is no activity and i also have business no for uber . So basically this video is for what type of taxes?

[@canadatriedandtestedoriginal]

Hi I am not the right person to advise. Incase it is two different businesses then logically these are two different entity and you will be doing two different tax filing right

[@chhavisikri]

HELLO! I have a RT number instead of RC. How does that work?

[@canadatriedandtestedoriginal]

RT is related to GST/HST right. My suggestion is to hire a good tax consultant and he/she will make your life easy. It can be more self harming if you are trying to do this yourself

[@BhavishyaBhatt]

So we don’t need to create CRA account for incorporation for NIL return filing ?

[@canadatriedandtestedoriginal]

You won’t have it first time

[@BhavishyaBhatt]

@@canadatriedandtestedoriginal omg, thank you so much for replying. Most KZbinr would not reply. I tried with many. Thank you so so much !!! Subscribe for life to your channel. God bless you sir 🙏🏻

[@simplyfoodforyou]

Hi Brother. Thank you for the video. Your content is really helpful. I have a question. In how much time did CRA respond with NOA after you file? It's been more than a month since I followed the exact same process for T2 nil filing, and I still haven't received any response. Thanks in advance.

[@canadatriedandtestedoriginal]

It took about 3 weeks in my case. Don't worry you will eventually get.

[@ebadali5031]

Hi, have you received NOA?

[@YoutubePremium-xz9by]

Hello, even if the coprotation is inactive, but what if someone has little expenses like creating corporation expense, and cash back from the bank. How do we report that?

[@canadatriedandtestedoriginal]

Hi I have not explored this part. It will be helpful if you get some answers. If I get to know I will update here

[@TahaHasan1]

Please can you make a video of T2 Nil Return considering CEBA .MY corporation is inactive and the only transaction that we had is to withdraw money from personal credit line to business chequing account and paid CEBA loan to government and there is some forgiveness amount that should considered as income.

[@canadatriedandtestedoriginal]

Hi this would need an expert to file. I know it is not the response you want but this helps.

[@farhancpa]

I want to work as an IT contractor, i am confused, do i get ontario corp or canada corp? i have heard there is less filing requirements for ontario? also, the accountant takes care of giving you salary and dividents from your corp? do you know how much it cost ? thanks

[@canadatriedandtestedoriginal]

The best person to speak would be an accountant. As this requires deliberation. You will have to find reason to incorporate federal or province

[@farhancpa]

@@canadatriedandtestedoriginal do you know any good accountant with reasonable / low fee in Scarborough? I have few questions and might have him/her to do my taxes. thanks

[@cfocus123]

Hi, I have printed above and sending it by post to sudury office as incorporation resides in ontario. . Do i need to deposit fee of 12$ or 40$. And how can I deposit it and whether it is needed to mention somewhere.

[@canadatriedandtestedoriginal]

Hi are you saying about annual corporation filing or tax filing? For tax filing where did you get $12/$40?

[@cfocus123]

​@canadatriedandtestedoriginal talking about corporation annual tax return

[@canadatriedandtestedoriginal]

@@cfocus123 okay I am not sure as I have shown how it is done for free. Best to call CRA to check if anything has changed now

[@ranyasworld5154]

Hi First of all, thanks a lot for such an informative video. I've few questions if you can answer please. 1) I registered a corporation in June 2021 and about 3 weeks ago I received an e-mail from Corporation Canada for annual filing. It says in that e-mail to file it online for $12 which I did but I never see all the details which you have mentioned in your video. Have I done something wrong or do I have to file again by following your method as I've not earned anything under this corporation yet. 2) When I filed online, it only asked me about 3 or 4 questions and after completion, I received "Form 22 Annual Return" which states corporation name, number, year of filing and about shareholders. Could you please explain form 22? Thanks in advance

[@canadatriedandtestedoriginal]

Corporation Canada annual filing is different from tax filing. I do that every year to let them know if there is any change to business.

[@canadatriedandtestedoriginal]

Regards point 2 I will have to see my documents. Will communicate once I have a look at it

[@ranyasworld5154]

@@canadatriedandtestedoriginal Thanks a lot for a quick response. Do I still need to file tax even if I don't have any bank account with this corporation? Basically all I have done is that I just registered a corporation name. That's it.

[@canadatriedandtestedoriginal]

Taxes are mandatory. Please check nil T2 filing video, you will get idea

[@canadatriedandtestedoriginal]

If you have your tax filing due

[@WIDFRANKE]

Thanks Million o👌👍

[@canadatriedandtestedoriginal]

Thank you

[@karannabha2524]

very gud sir❤

[@canadatriedandtestedoriginal]

Thank you

[@HPX584]

Hey boss, if a corporation has 0 activity , nil data, what happens with the funds in the bank account

[@canadatriedandtestedoriginal]

If there has been no activity for that year no problem. Fund in bank remains as it is

[@HPX584]

@@canadatriedandtestedoriginal can it be removed back into person account?

[@canadatriedandtestedoriginal]

@HPX584 sorry I did not get your question

[@forcanada7747]

if you can make another video for those Corps who made less than 30k$ and how to file it , Tc

[@canadatriedandtestedoriginal]

Hi, when there are cashflow and expenses it sometimes becomes complex as there are certain statutory requirements. I am confident about what I do. Since I am not a qualified person and every situation could be different. I share videos where I know what I have done.

[@vibhavjindal124]

Bro, if you declared expenses without income, how to about it?

[@canadatriedandtestedoriginal]

Vinje interesting question. I am not a tax consultant and this is more appropriate for them to answer. My logic says that tax return will be nil in this case and the losses will just get shown as documentation. I have not explored if losses can be carried forward

[@vibhavjindal124]

One question - by when did you receive this? I mean by when was the acknowledgement from CRA recieved?

[@canadatriedandtestedoriginal]

@@vibhavjindal124 After submitting it took 2-3 weeks in my case

[@gertrudesamurao9269]

what is the difference between ccpc and other private corporation?

[@Elcomendante64]

You could have a non resident owned private Corp. CCPC is cdn controlled private Corp

[@goldsupreme8543]

What about line 173? Don't you own more than 10% of the corporation's shares ??

[@canadatriedandtestedoriginal]

Thats an answer you will have to give. Is the corporation having one stakeholder or multiple stakeholders? If it is one it's an easy yes

[@parmarboyz]

did you find any free software to file T2.

[@canadatriedandtestedoriginal]

There are no free software. It’s all paid

[@bradforden512]

TaxTron T2 used to be free for net loss returns. No longer as of 2023.

[@canadatriedandtestedoriginal]

Yes I did check. The software starts at $100

[@nitish5299]

Watched it in 2023 and again doing it in 2024. Sadly no options yet to fill it online for free

[@ixchelespinosa2340]

waste of time this guy entering 0 everywhere ... not explaining what things meant...

[@canadatriedandtestedoriginal]

What more explanation do you want in Nil report?