As per Canada Revenue Agency, all resident corporations have to file their Corporate Income Tax (T2) return on worldwide income within 6 months after end of the fiscal year even if there is no tax payable. Non-resident corporations are subject to file their Corporate Income Tax (T2) return on income derived from carrying on a business in Canada and on capital gains arising upon the disposition of taxable Canadian property. The taxation laws and tax rates for corporations are different from the individual taxation laws and tax rates.