It has been observed over the years that all corporate clients who have December 31 as their year-end get confused between two important dates. First is the due date to file GST/HST and second is the due date to file tax return.
Corporations have an obligation to file GST/HST by March 31, if their year is December 31 and filing frequency is yearly. Corporations are required to file their corporate tax returns within 6 months from their year-end. For e.g., If the year-end is December, then the last date to file corporate tax return is 30 June. Most of the times, client thinks that both dates fall on June 30 and accordingly, go to their accountants after March 31. As a result, the GST/HST return is prepared late, and they end up paying late filing penalty.
All corporate clients are advised to keep in mind the following important dates:
- Due date to file T4 information: 28 February
- Due date to file HST returns (presuming year end as December 31 and frequency of filing annually): March 31 (90 days from year-end)
- Due date to file personal tax returns: April 30
- Due date to file corporate tax liability: April 30
- Due date to fil corporate tax return (presuming year end as December 31 and frequency of filing annually): June 30 (6 months from year-end)
