Payments

• Balance-due day
• Instalment due dates
• Paying on time
• Pay by cash or debit card with Canada Post

Filing

• When to file your corporation income tax (T2) return

Reassessments

• Normal reassessment period - The normal period of reassessment for your T2 retrun depends on whether or not the corporation was a Canadian-controlled private corporation.
• Extended reassessment period - CRA can reassess your T2 return up to three years beyond the normal period in certain situations.
• Unlimited reassessment period - CRA can reassess your T2 return at any time in a certain situations.

Appeals

• You have 90 days from the date of the notice of assessment or reassessment to file a formal objection.  See resolving disputes for more information.

Refund interest

• When CRA refunds or applies an overpayment, CRA pays refund interest from certain dates.

Carryback

• CRA will calculate late payment interest, refund interest, or both, for the carryback from 30 days after certain dates.  See effect of a carryback on interest for more information. 

Registration

• Within 45 days of incorporation, you should receive a notice confirming your business number (BN) and summary of accounts including your corporation income tax program account.

Fiscal period

• The corporation's tax year is its fiscal period.  See determining your corporation's tax year for more information.

Tax year-end

• A corporation can use a calendar year for the GST/HST account or use the same fiscal period as the corporation income tax account.