Two out of five Canadian business corporations have a fiscal year ending on December 31, 2019.
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.
- January 31, 2020 – Due date for your HST filing for the period from October 1, 2019 to December 31, 2019 if your business files its HST return on a quarterly basis.
- February 28, 2020 –
- Filing for your 2019 T4/T5 information return and tax slips.
- Payment due date for your 2019 corporation tax if your business is not a small business corporation.
- March 31, 2020 –
- Payment due date for your 2019 corporation tax if your business is a small business corporation.
- Due date for your HST filing for the 2019 fiscal year if your business files HST return on annually.
- April 30, 2020 – Filing deadline for your tax election form if you and your corporation jointly made any election during the 2019 tax year.
- June 28, 2020 – The last day that your December 31, 2019 year-end bonus shall be paid to you and be cleared through your corporate bank account.
- June 30, 2020 – Filing deadline for your 2019 corporate income tax return.
- July 15, 2020 – The last day that payroll remittance for the December 31, 2019 year-end bonus shall be remitted to CRA if the bonus will be paid in June 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.