Important dates for corporations
- Normal reassessment period – The normal period of reassessment for your T2 return depends on whether or not the corporation was a Canadian-controlled private corporation.
- Extended reassessment period – The CRA can reassess your T2 return up to three years beyond the normal period in certain situations.
- Unlimited reassessment period – The CRA can reassess your T2 return at any time in certain situations.
You have 90 days from the date of the notice of assessment or reassessment to file a formal objection. See Resolving disputes for more information.
When the CRA refunds or applies an overpayment, it pays refund interest from certain dates.
The CRA will calculate late payment interest, refund interest, or both, for the carryback from 30 days after certain dates. See Effect of a carryback on interest for more information.
Within 45 days of incorporation, you should receive a notice confirming your business number (BN) and summary of accounts including your corporation income tax program account.
The corporation's tax year is its fiscal period. See Determining your corporation's tax year for more information.
A corporation can use a calendar year for the GST/HST account or use the same fiscal period as the corporation income tax account.
To change your tax year-end, see Change of fiscal year-end.
- All you need to know about Corporations
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