Key dates for your corporation – June 30, 2020 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.

• • July 31, 2020 – Due date for your HST filing for the period from April 1, 2020 to June 30, 2020 if your business files its HST return on a quarterly basis.

• • August 31, 2020 –
    • Original payment due date for your 2020 corporation tax if your business is not a small business corporation.

• • September 30, 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.
    • The extended payment due date for your 2020 corporation tax due to COVID-19.

• • December 27, 2020 – The last day that your June 30, 2020 year-end bonus shall be paid to you and be cleared through your corporate bank account.

• • December 31, 2020 – Filing deadline for your 2020 corporate income tax return.

• • January 15, 2021 – The last day that payroll remittance for the June 30, 2020 year-end bonus shall be remitted to CRA if the bonus will be paid in December 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.