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AccountingJanuary 3, 2022by Private Enterprises Services Group0Key dates for your corporation – December 31, 2021 year-end

Two out of five Canadian business corporations have a fiscal year ending on December 31, 2021.

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, 2022 – Due date for your HST filing for the period from October 1, 2021 to December 31, 2021 if your business files its HST return on a quarterly basis.
  • February 28, 2022
    • Filing for your 2021 T4/T5 information return and tax slips.
    • Payment due date for your 2021 corporation tax if your business is not a small business corporation.
  • March 31, 2022
    • Payment due date for your 2021 corporation tax if your business is a small business corporation.
    • Due date for your HST filing for the 2021 fiscal year if your business files HST return on annually.
  • April 30, 2022 – Filing deadline for your tax election form if you and your corporation jointly made any election during the 2021 tax year.
  • June 29, 2022 – The last day that your December 31, 2021 year-end bonus shall be paid to you and be cleared through your corporate bank account.
  • June 30, 2022 – Filing deadline for your 2021 corporate income tax return.
  • July 15, 2022 – The last day that payroll remittance for the December 31, 2021 year-end bonus shall be remitted to CRA if the bonus will be paid in June 2022.

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.

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