Key dates for your corporation – November 30, 2019 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.

• December 31, 2019 – Due date for your HST filing for the period from September 1, 2019 to November 30, 2019 if your business files its HST return on a quarterly basis.

• January 31, 2020 – Payment due date for your 2019 corporation tax if your business is not a small business corporation.

• February 28, 2020 –
• 1. 1. Filing for your 2019 T4/T5 information return and tax slips.
     2. Payment due date for your 2019 corporation tax if your business is a small business corporation.
     3. 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 calendar year.

• May 28, 2020 – The last day that your November 30, 2019 year-end bonus shall be paid to you and be cleared through your corporate bank account.

• May 31, 2020 – Filing deadline for your 2019 corporate income tax return.

• June 15, 2020 – The last day that payroll remittance for the November 30, 2019 year-end bonus shall be remitted to CRA if the bonus will be paid in May 2020.

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.