Filing Deadline Due Date of Tax Corporations Six months from year end. Two months from year end(three months for Canadian-controlled private corporations). Quarterly instalments. Individuals April 30 of the following calendar year. Withholding tax and/or quarterly instalments. Trusts and Estates 90 days from year end. Quaterly instalments.
Tax Planning Tax Avoidance Tax Evasion Taxpayer Goal To favourably reduce taxes payable within the object and spirit of the law. Deliberate planning of events and transactions to circumvent the law and avoid paying taxes. To avoid taxes by failing to disclose complete and accurate information. Legality Legal Not illegal. Transactions can be ignored. […]
Tax Liability Individual Corporation Resident Liable for tax on worldwide income Facts indicate the individual is ties to or connected with Canada. Facts indicate central management and control is in Canada Deemed Resident Liable for tax on worldwide income. The individual sojourns in Canada an aggregate of 183 days or more. Incorporated in Canada […]