The deadline to file your corporate tax return is 6 months after your fiscal yearend date. If you fail to meet this deadline the CRA can impose a penalty of 5% of your taxes owing, plus 1% of your balance owing for each full month your return is late, to a maximum of 12 months.
Note, if CRA charged a late filing penalty on any of your preceding three years returns these penalties can double.
Your taxes owing are due 3 months after your fiscal yearend date. Making sufficient installments to cover any taxes owing for your current fiscal year is one way to avoid compound daily interest on your corporate taxes.
To ensure there is sufficient time to prepare your corporate financial statements and file your corporate tax returns by the imposed deadline, be prepared to provide your accountant with completed bookkeeping within 45 days following your fiscal yearend date.