Corporate Tax Deadlines Every Small Business Should Know

Paying corporate taxes doesn’t have to be stressful — but missing deadlines can cost your business penalties and interest. Here’s a simple guide for Canadian corporations, including CCPC's, so you can stay compliant and avoid surprises.

Filing Deadlines (T2 Return)

• All corporations must file their T2 return within 6 months of fiscal year-end.

• Example: December 31 year-end → filing due June 30.

• Tip: Even if you pay on time, missing the filing date can trigger penalties.

Payment Deadlines

• CCPC's eligible for Small Business Deduction: pay within 3 months of year-end (Dec 31 → March 31).

• Other corporations: pay within 2 months of year-end (Dec 31 → Feb 28).

• Paying late triggers interest and penalties.

Installment Payments

• If you owe more than $3,000 in taxes, CRA usually requires monthly or quarterly installments.

• Helps avoid large lump-sum payments at year-end.

  
  

Related Deadlines (T4/T5)

• T4, T4A, and T5 slips are generally due on the last day of February following the calendar year for which the slips are issued.

• If the last day of February falls on a weekend or public holiday, the deadline moves to the next business day.

 Quick Tips to Stay On Track

• Mark all key dates in your calendar

• Use bookkeeping software to track taxes owed

• Consider a tax professional if your income streams are complex (like royalties, gigs, or multiple businesses)

  
  

Staying on top of your corporate tax deadlines can save your business money and stress. Need help? Book a free consultation with us today.

The content provided is solely for informational purposes and should not be relied upon as a substitute for specialized tax, legal or financial advice.