To facilitate the year-end preparation for your business, we provide following key dates which you may find it helpful to mark down on your calendar.
- May 31, 2020 – Due date for your HST filing for the period from February 1, 2020 to April 30, 2020 if your business files its HST return on a quarterly basis.
- June 30, 2020 –
- Original payment due date for your 2020 corporation tax if your business is not a small business corporation.
- July 31, 2020 –
- Original payment due date for your 2020 corporation tax if your business is a small business corporation.
- Due date for your HST filing for the fiscal year if your business files HST return on annually.
- September 1, 2020 – The extended payment due date for your 2020 corporation tax due to COVID-19.
- October 27, 2020 – The last day that your April 30, 2020 year-end bonus shall be paid to you and be cleared through your corporate bank account.
- October 31, 2020 – Filing deadline for your 2020 corporate income tax return.
- November 15, 2020 – The last day that payroll remittance for the April 30, 2020 year-end bonus shall be remitted to CRA if the bonus will be paid in October 2020.
Struggling with business cash flow for the tax payment? There might be a tax deferral opportunity for your business. Speak to a partner of our firm to find out.