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Is a professional accountant required by law to do annual taxes/reports/filings for a federal or a provincial corporation in Canada? I am about to incorporate my company but don't have enough money to hire any accountants at this stage. Thanks.

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Given the complexity of tax laws in general it is a good idea to have a professional prepare such reports in any country. I don't think that you will need to have one on staff though. Unless of course you have an accounting firm. :) – Karlson Jul 29 '12 at 2:12
Thanks for the note. My company is really too small at this stage to justify hiring any professionals. – dave Jul 30 '12 at 6:11

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No, an accountant is not required. I've done my Ontario Provincial T2-Short my self every year since 2006, it is not even that complicated. You only really need an accountant if you start getting in to a lot of accounting tricks etc.

You can also buy off-the-shelf software to do your T2 Corporate tax return for a few $100 from Quickbooks or the like, but it is easy enough to do by hand.

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Thank you for the response. I feel that it might actually be beneficial to learn some basics about corporate accounting before hiring accounting professionals in the future :) – dave Jul 30 '12 at 6:14
just to confirm, if my company is federally registered, does your response still apply? thanks – dave Jul 30 '12 at 6:16

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