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Corporate Income Tax (T2 & AT1)

Corporate Income Tax (T2 & AT1)


August 10, 2020 Update: Alberta extends corporate tax payment deadline to September 30
Alberta has extended its provincial corporate income tax payment deadline to September 30, 2020 (from the previous extended date of August 31, 2020) and will waive arrears interest from March 18, 2020 to September 30, 2020 on existing debts owing under the Alberta Corporate Tax Act. As with the CRA’s recent announcement, Alberta also says it will not impose a late-filing penalty on taxpayers who file certain corporate income tax returns by September 30, 2020.

April 1, 2020:

Revised Filing Requirements

The federal government announced additional extensions to many tax-related deadlines.
Most federal tax filing deadlines have been extended to June 1, 2020, including the March 31 deadline for T1134 forms and T2s.
Applies to corporations that would otherwise have a filing due date after March 18 and before June 1, 2020.

Revised Payment Dates

Administrative income tax actions required of taxpayers by the CRA that are due after March 18, 2020, can be deferred to June 1, 2020; these include filing returns, elections, designations, and information requests.

Tax payments deferral includes provincial income tax. On the income tax payment deferral deadline, it is our understanding that the payment extensions announced will apply to provincial income tax in those provinces where the federal government collects tax. Alberta and Quebec have announced their own extensions.

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