Author: dev

Departure Tax in Canada: What Happens to Your Assets When You Leave

A woman holding two boarding passes at her office desk with a world map nearby, symbolizing the departure tax triggered when leaving Canada.

Departure tax applies the moment someone stops being a Canadian tax resident, treating most capital property as sold and immediately reacquired at fair market value. Tohme Accounting, led by Samer Tohme, CPA, guides Ottawa and Toronto clients relocating abroad through which assets are affected, the forms required, and the deferral options available before that departure […]

Late Filing Penalty for a Corporate Tax Return in Canada Explained

A man recording notes and cash values in a notebook beside his laptop, planning his assets ahead of departure tax obligations.

A late filing penalty for a corporate tax return starts accumulating the moment the six month T2 deadline passes, whether or not any tax is ultimately owed. Tohme Accounting, led by Samer Tohme, CPA, guides incorporated businesses in Ottawa and Toronto through exactly what happens next, including penalty calculation, interest, repeat filer risk, and how […]

How to File a Nil Corporate Tax Return in Canada

Businessman in a suit reviewing a tax form on a desktop monitor, illustrating the late filing penalty for a corporate tax return.

A nil corporate tax return is required every year for any Canadian corporation with no revenue and no expenses, even when the business is inactive. Tohme Accounting, led by Samer Tohme, CPA, guides incorporated businesses in Ottawa and Toronto through who must file, the deadline, the right forms, penalties, and the records to keep for […]