A Complete Guide to Tax and Filing Deadlines for CCPC Owners
Navigating the various tax filing and payment deadlines can be one of the more stressful aspects of running a Canadian-Controlled Private Corporation (CCPC). Missing a deadline can result in costly penalties and unwanted interest charges from the Canada Revenue Agency (CRA). At Capstone LLP, we believe that staying informed and organized is the best defense against compliance issues.
To help you stay on track, we have compiled a comprehensive guide to the essential filing and payment deadlines every CCPC owner needs to know.
Corporate Income Tax (T2 Return)
Your corporate income tax return (T2) is an annual requirement, but the filing and payment deadlines do not fall on the same date.
- Filing Deadline: Your T2 return must be filed within six months after the end of your corporation’s fiscal year. For example, if your corporate year-end is December 31, your filing deadline is June 30 of the following year.
- Payment Deadline: For most CCPCs that claimed the small business deduction in the previous or current year, the balance of tax owing is due within three months after the fiscal year-end. If your corporation does not meet the specific criteria for the three-month extension, the balance is due two months after your year-end.
Corporate Tax Instalments
If your corporation’s total taxes payable for the current or previous year exceeded $3,000, you are generally required to pay your income tax in instalments.
- Payment Schedule: Instalments are typically due on the last day of every month or the last day of every quarter, depending on your corporation’s eligibility.
- Quarterly Eligibility: A CCPC can make quarterly instalments if it meets specific conditions, such as having a perfect compliance history, claiming the small business deduction, and having taxable capital employed in Canada of less than $10 million.
GST/HST Returns
The frequency of your GST/HST filing and payments is determined by your total annual revenue.
- Monthly and Quarterly Filers: Both your GST/HST return and the associated payment are due one month after the end of your reporting period.
- Annual Filers: If you file annually, your GST/HST return is due three months after your fiscal year-end. However, any GST/HST amounts owed must be paid, and any required instalments must be remitted, by the same deadline.
Payroll Deductions
If your CCPC has employees (including yourself, if you draw a salary), you must withhold income tax, Canada Pension Plan (CPP) contributions, and Employment Insurance (EI) premiums.
- Remittance Deadline: For regular remitters, payroll deductions must be paid to the CRA by the 15th day of the month following the month the employees were paid. Accelerated remitters will have more frequent due dates depending on their average monthly withholding amount.
T4 and T5 Information Returns
If your corporation pays salaries, bonuses, or dividends, you are required to issue tax slips to the recipients and file a summary return with the CRA.
- T4 Slips and Summary (Salaries/Bonuses): Must be filed and distributed to employees by the last day of February following the calendar year the remuneration was paid. For the 2025 tax year, the deadline is February 28, 2026.
- T5 Slips and Summary (Dividends): Must be filed and distributed to shareholders by the last day of February following the calendar year the dividends were paid.
Need Help Managing Your Corporate Tax Deadlines?
Keeping track of multiple filing dates, remitting payroll, and ensuring accurate T2 filings requires significant time and attention to detail. Partnering with an experienced accounting firm ensures that your corporation remains fully compliant, allowing you to focus on what you do best—growing your business.
At Capstone LLP, our team of Chartered Professional Accountants offers comprehensive corporate tax and accounting services tailored to the needs of professionals and small businesses in Toronto.
If you have questions about your CCPC’s tax obligations or need assistance preparing your upcoming filings, contact us today to speak with one of our expert advisors. For more detailed insights directly from the source, you can also consult the CRA’s official corporate tax guide.