How much does an accountant cost for a small business in Canada?
T2 returns from $1,475, year-end statements from $2,350, full packages from $2,900 — real published prices plus typical Canadian market ranges by service.
At Stamped, a corporate tax return — the federal T2, plus Québec's CO-17 where it applies — starts at $1,475, year-end financial statements start at $2,350, and the complete year-end package (compiled financial statements, tax returns and recommendations) starts at $2,900 per year. Those are real prices, published on our pricing page. For the rest of the market, you have to dig: very few Canadian firms publish their fees, and most pages that rank for "how much does an accountant cost" belong to lead-generation sites rather than firms standing behind their own numbers. So here are both: our prices, and honest market ranges, service by service.
A note on method: the ranges below come from published Canadian sources — accounting firms and pricing guides — and they are reference points, not quotes. Fees vary widely by region, by firm and by file.
Corporate tax return only: typically $500 to $1,500 and up
For a simple corporation with clean books, published sources typically put a T2 prepared by an accountant between $500 and $1,500. With a CPA, quoted ranges climb: roughly $850 to $1,500 without financial statements, and $1,500 to $3,200 when basic financial statements accompany the return. Québec corporations file two returns — the federal T2 and the provincial CO-17 — which adds work compared with provinces where the CRA administers the provincial tax on the same return (Alberta corporations similarly file a separate AT1). An incorporated consultant or contractor with no employees and no inventory usually sits at the bottom of these ranges.
At Stamped, T2 and CO-17 preparation and filing by a CPA starts at $1,475, in every province. One caution: a cheap "return only" quote assumes someone has already prepared your year-end balances. Many low quotes exclude that work — and it reappears on the final invoice.
Financial statements plus tax: the most common scenario
Most incorporated businesses need both: year-end financial statements, then the tax returns built on top of them. It is the most common engagement — and the one with the widest price spread. Published sources put a compilation engagement at roughly $2,500 to $4,500 for a very small business, rising with revenue, transaction volume and complexity to $15,000 or more.
At Stamped, year-end financial statements start at $2,350, and our year-end package — a compilation engagement covering compiled financial statements, the T2 and CO-17 returns and practical recommendations — starts at $2,900.
Review engagement: when the bank asks for it
A review engagement provides limited assurance on your financial statements. It is rarely a choice — it is usually a requirement from a lender, an investor or an outside shareholder. The work is substantially broader than a compilation, and the price follows: published ranges run from about $3,000 for a very small, well-kept company to $15,000 and more. Stamped prices review engagements by quote, because the fee depends directly on the size and complexity of the file.
Audit: the highest level of assurance — and of cost
An audit provides reasonable assurance, with detailed verification procedures behind it. According to published sources, audits rarely start below $10,000 even for a small company, and quoted ranges reach $50,000 and beyond for complex files. As with reviews, Stamped quotes audits case by case.
Bookkeeping: a separate line in your budget
Bookkeeping is not year-end work — it is the ongoing recording of your transactions, week after week. Canadian sources typically put bookkeepers at $30 to $100 per hour, with monthly packages for a typical small business running from about $200 to $1,200 depending on volume. Stamped does not sell ongoing bookkeeping — we work with your bookkeeper or can point you to partners — though rebuilding records for unfiled years is part of our catch-up engagements. To sort out who does what, read our guide to bookkeepers, accountants and CPAs. The key point: clean books are the single most direct lever for lowering your year-end bill.
What makes the price go up
Whichever firm you choose, the same factors drive fees:
- Bookkeeping quality. The number one factor. Unreconciled accounts or a box of receipts get billed by the hour.
- Transaction volume and nature. Inventory, fixed assets, foreign currency, related companies — each adds hours.
- Catch-up work. Late GST/HST filings, unfiled prior years, entries that need to be redone.
- Urgency. Showing up a few weeks before the deadline often carries a rush premium.
- Third-party requirements. If your bank requires a review engagement, the budget changes category.
- Year one. A new firm has to rebuild your history; later years usually take less effort.
Cheap versus good: what a bad filing really costs
A $400 T2 can turn into the most expensive line in your budget. A late return triggers a federal penalty of 5% of the unpaid tax plus 1% per complete month, up to 12 months — before interest, and before Québec's own penalties on the CO-17. Our guide to corporate tax deadlines in Canada covers every date. A wrong return costs differently: deductions and credits left unclaimed, reassessments to dispute, and books the next firm has to rebuild.
The right comparison is not "which accountant is cheapest" but "what is the total cost": fees, plus tax overpaid, plus risk, plus your own time. A published price, a written scope and a CPA who answers your questions are often worth more than a few hundred dollars of difference.
Why we publish our prices
Most incorporated small businesses fit a standard package. That is why Stamped publishes its starting prices — $1,475 for the returns, $2,350 for financial statements, $2,900 for the complete package — with a firm quote before work begins, an online platform, and a CPA response within 24 hours, in every province.
Frequently asked questions
How much does a corporate tax return cost in Canada?
At Stamped, T2 (and CO-17 in Québec) preparation and filing by a CPA starts at $1,475. Published market sources typically cite $500 to $1,500 for a simple T2 without financial statements, and more once financial statements are required.
How much do year-end financial statements cost for a small business?
From $2,350 at Stamped, or $2,900 for the year-end package that also includes the T2 and CO-17 returns. Published ranges for a compilation engagement start around $2,500 to $4,500 for a very small business and rise with complexity.
What do accountants charge per hour in Canada?
Published sources typically cite $150 to $400+ per hour for CPAs across Canada, and $100 to $200 in Québec. Many firms, including Stamped, bill flat fees instead — you know the price before the work starts.
How much should an incorporated consultant pay an accountant?
A single-shareholder corporation with no employees or inventory usually sits at the bottom of the ranges: at Stamped, $1,475 for the T2 and CO-17 returns, or $2,900 for the package with financial statements. Incorporation carries the same filing obligations as any corporation, even with no staff.
Why do so few accounting firms publish their prices?
Because fees depend on bookkeeping quality, transaction volume and complexity, most firms prefer to assess each file first. Stamped publishes starting prices because the large majority of incorporated small businesses fit a standard package; unusual files get a firm quote before the engagement starts.