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Tax.Appeal.168
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Category: Canada Tax
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I incorporate a business in september 10/14 when should my

Customer Question

i incorporate a business in september 10/14 when should my year end be and I believe i have 3 months from that date to file my return
Submitted: 1 year ago.
Category: Canada Tax
Expert:  Tax.Appeal.168 replied 1 year ago.

Your year end all depends on what you selected as your fiscal year, which could be from January - December 31st, or it could be the consecutive 12 month period after the start of the business. You will need to check to see what you selected as your fiscal year when you incorporated. Once you determine what your fiscal year is, you cn refer to the information below as to when you should file the return.

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The tax year of a corporation is its fiscal period.

When the corporation's tax year ends on the last day of a month, file the return by the last day of the sixth month after the end of the tax year.

When the last day of the tax year is not the last day of a month, file the return by the same day of the sixth month after the end of the tax year.

Example

  • If your tax year ends March 31, your filing due date is September 30.
  • If your tax year ends August 31, your filing due date is February 28.
  • If your tax year ends September 23, your filing due date is March 23.

REFERENCE SOURCE:

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/crprtns/rtrn/whn/menu-eng.html

Let me know if I can be of further assistance to you regarding this matter.

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