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Tax Factor 2011-03

Corporate tax returns and refunds

 

If your corporation is expecting a tax refund or is claiming a dividend refund, remember to file your corporation’s tax return no later than three years after the end of the tax year in order to receive it. Under the Income Tax Act, if a return is not filed within three years of the end of the taxation year, the related refund or dividend refund is no longer available. The provisions that allow the Canada Revenue Agency the discretion to issue refunds to individuals and testamentary trusts after the three year limit if the return is filed within 10 years of the year-end, do not apply to corporations.

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The information in this publication is current as of August 22, 2011.


This publication has been carefully prepared, but it has been written in general terms and should be seen as broad guidance only. The publication cannot be relied upon to cover specific situations and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact BDO Canada LLP to discuss these matters in the context of your particular circumstances. BDO Canada LLP, its partners, employees and agents do not accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it.


BDO Canada LLP, a Canadian limited liability partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms.

  
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BDO Canada LLP, a Canadian limited liability partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.

BDO is the brand name for the BDO network and for each of the BDO Member Firms.