Corporate Income Tax

The due date for a Canadian controlled private corporation, claiming the small business deduction and whose taxable income is less than $500,000, is three months following the corporations’ year-end.

For example, if you have a

• ◙ December 31st year-end; the balance is payable by March 31st.
• ◙ June 30th year-end; the balance is payable September 30th.

For all other corporations, the due date is two months following their year-end.

The due date to file your corporate income tax return is six (6) months following your corporation’s year end.

For example, if you have a

• ◙ December 31st year-end; your income tax return is due June 30th.
• ◙ March 31st year-end; your income tax return is due September 30th.

For all other corporations, the due date is two months following their year-end.

Existing corporations are required to pay tax by installments throughout the year if their income tax bill is more than $3,000. New corporations are exempt from the installment requirements in their first year.

Installment payments are due on the last day of every complete month of your tax year, or of every complete quarter if you are an eligible small CCPC.

The first payment is due one month or one quarter less a day from the starting day of your tax year. The rest of the payments are due on the same day of each month or of each quarter that follows.

For example, if your corporation’s tax year end is December 31:

Each of the monthly installment payments is due by the last day of each month during the tax year. The first payment is due by January 31st. The last payment is due by December 31st.

If the corporation is allowed to make quarterly installment payments, the payments are due on March 31st, June 30th, September 30th, and December 31st.