Weekly Tax Tip - Corporate tax returns and refunds

June 2017

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Remember to file your corporation’s tax return no later than three years after the end of the tax year.

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 graduated rate estates after the three year limit if the return is filed within 10 years of the year-end, do not apply to corporations.

This tax tip is a publication of BDO Canada LLP on developments in the area of taxation. This material is general in nature and should not be relied upon to replace the requirement for specific professional advice. The information in this tax tip is current as of June 12, 2017.