Harmonization of corporate taxes

Provincial corporations in Ontario will file a single T2 Corporation Income Tax Return starting in taxation year 2009 to Canada Revenue Agency. This harmonization is intended to reduce the costs of compliance for corporations who, previously, had to file separate returns with both the Ontario Ministry of Revenue and the Federal government. The integration of services begins April 3rd, 2008, when Canada Revenue Agency becomes responsible for auditing, tax objections, appeals, rulings and interpretations relating to Ontario corporate tax matters. Full harmonization of services is to occur on January 1, 2009 when CRA will handle all services regarding the administration of Ontario corporate tax.