Mississauga, Ontario, October 18, 2026 – A Mississauga accounting firm is urging local business owners to plan their taxes all year, not just in April. Accounting Firm Mississauga says the biggest savings come from choices made months before the return. The firm is operated by Bestax Accountants and serves more than 120 businesses across Peel Region and the GTA.
Most owners meet their accountant once a year, after the year has closed. By then, most of the choices that set your tax bill are already made.
Year-round planning moves those choices earlier. You decide how to pay yourself, when to buy equipment and how much to set aside. You still have time to act on each one.
Why a Mississauga accounting firm plans taxes all year
Your corporate tax bill is fixed by what happens during the year, not by what you file afterwards. Planning in December gives you one month to act. Planning in January gives you 12.
What changed for Ontario businesses in 2026
Ontario cut its small business tax rate from 3.2% to 2.2% on July 1, 2026, according to the Ontario government. The rate applies to the first $500,000 of active business income earned by a Canadian-controlled private corporation (CCPC).
With the 9% federal rate, your combined small business rate falls from 12.2% to 11.2%. If your year straddles July 1, 2026, the cut is prorated. A December year-end company pays a blended Ontario rate of about 2.7% for 2026.
The 2026 Ontario Budget also lowers the provincial tax credit on non-eligible dividends from January 1, 2027. Dividends paid from small business income will cost you slightly more in personal tax from that date.
What the rate cut is worth to you
Here is a calendar-year Mississauga corporation with $400,000 of active business income:
| Tax year | Combined small business rate | Corporate tax on $400,000 |
| 2025 | 12.2% | $48,800 |
| 2026 (prorated) | About 11.7% | About $46,800 |
| 2027 onward | 11.2% | $44,800 |
You save about $4,000 a year once the full rate applies. How much of that saving reaches you personally depends on how you pay yourself.
What a once-a-year accountant misses
A year-end-only review catches errors, but it rarely changes the result. Three common gaps:
- Instalments set on last year’s profit, which leave you short or tie up cash
- Dividends paid without checking how the 2027 credit change hits your personal tax
- Equipment bought in the wrong month, or without checking the capital cost allowance class
How year-round tax planning works for your business
We split your year into four check-ins. Each one has a clear job.
Quarter by quarter
| Quarter | What we review with you |
| January to March | Last year’s close, T4 and T5 slips, your RRSP room and this year’s instalment plan |
| April to June | Personal returns, the salary and dividend mix for the year, HST position |
| July to September | Mid-year profit forecast, instalment check, equipment and hiring plans |
| October to December | Year-end moves, bonus accruals, dividend timing and next year’s budget |
Your corporate tax balance is due two or three months after year-end. The T2 return is due six months after year-end. We plan for the payment date, not the filing date.
Pay instalments on the right schedule
Your corporation pays tax in instalments once its tax payable passes $3,000 in both the current and the previous year. Monthly instalments are the default.
An eligible CCPC with a perfect compliance history can pay quarterly instead. For a calendar-year company, the quarterly dates are March 31, June 30, September 30 and December 31.
Most owners base instalments on last year’s tax. If your profit drops, you overpay and tie up cash you need. We reforecast your profit at mid-year, so your instalments match what you will actually owe.
Salary or dividends
How you pay yourself is the biggest planning choice most owners make. Salary creates RRSP room and counts as a business expense. Salary also brings CPP contributions of up to $4,230.45 each for you and your company in 2026.
Dividends skip CPP and keep payroll simple. They create no RRSP room, though. In 2026, you need about $187,800 of earned income in 2025 to reach the $33,810 RRSP limit.
Most owners do best with a mix. We run both options against your personal tax, your retirement plans and the 2027 dividend credit change before you pay yourself.
Protect your small business limit
Your corporation keeps the low rate only on the first $500,000 of active income. Passive income can shrink that limit.
Once your company earns more than $50,000 of investment income in a year, the limit drops by $5 for every extra $1. At $150,000 of investment income, the low rate disappears entirely.
If your business holds surplus cash in investments, this rule matters to you. We track your investment income through the year, so you can decide on dividends or investments before the limit is hit.
Make your year-end moves before the books close
The last quarter is where planning pays off most. Four moves come up for most owner-managed companies:
- Declare a bonus before year-end and pay it within 180 days, so your company deducts it this year
- Put new equipment into use before year-end, or the capital cost allowance claim waits a year
- Repay any shareholder loan by the end of the following year, or it counts as your personal income
- Claim missed HST input tax credits, which you can generally go back four years to recover
None of these work after the year closes. We book the year-end review for October, so you have time to act on each one.
What year-round planning looks like with a Mississauga accounting firm
You get the same team every month, not a new contact each April. Our work covers five areas:
- Monthly bookkeeping, so your numbers are current when we plan
- HST return filing, with the input tax credits you are owed
- Payroll and T4 slips for you and your staff
- T2 corporate tax returns, filed on time with the plan already applied
- Personal T1 returns that match the salary and dividends you took
Fees are fixed in writing before any work starts. For a quote based on your business, contact the team.
“The tax return tells you what happened. Planning decides what happens,” said Irfan Imtiaz, APFA, CA, Senior Accountant and Tax Consultant at Bestax Accountants. “With Ontario’s new 2.2% rate, owners who check their pay mix now keep more of the saving.”
If you run a corporation in Mississauga, book a call with the team to set up your first quarterly review.
About Accounting Firm Mississauga
Accounting Firm Mississauga is a Bestax Accountants company serving owner-managed businesses in Mississauga and the GTA. The team handles bookkeeping, payroll, HST, corporate and personal tax, financial reporting and audit support.
The firm has about 10 years of experience and serves more than 120 businesses. Bestax Accountants is a CRA EFILE Service Provider and an ACCA and ICAEW Approved Employer.
