Key dates for your corporation – August 31, 2021 year-end

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.

 

• September 30, 2021 – Due date for your HST filing for the period from June 1, 2021 to August 31, 2021 if your business files its HST return on a quarterly basis.
• October 31, 2021 –
  1. Payment due date for your 2021 corporation tax if your business is not a small business corporation.
• November 30, 2021 –
  1. Payment due date for your 2021 corporation tax if your business is a small business corporation.
  2. Due date for your HST filing for the fiscal year if your business files HST return on annually.
• February 26, 2022 – The last day that your July 30, 2021 year-end bonus shall be paid to you and be cleared through your corporate bank account.
• February 28, 2022 – Filing deadline for your 2021 corporate income tax return.
• March 15, 2022– The last day that payroll remittance for the August 31, 2021 year-end bonus shall be remitted to CRA if the bonus will be paid in February 2022.

 

Worrying about receiving a humongous tax bill? There might be a tax deferral opportunity for your business and you personally. Speak to a partner of our firm to find out.