What Is the Penalty for Filing Corporate Taxes Late? (6 CRA Rules for Late T2 Returns in Canada)
CRA charges a late-filing penalty of 5% of the unpaid tax due on the filing deadline, plus 1% for each complete month the T2 return is late, up to a maximum of 12 months. (Penalties for failing to file a T2 return) The penalty doubles to 10% plus 2% per month (maximum 20 months) when […]