Canadian corporations must file their T2 Corporation Income Tax Return within 6 months after their tax year-end, pay their balance owing within 2 months (or 3 months for eligible CCPCs), and remit monthly or quarterly instalments throughout the year.
Which “Deadline” Do You Mean? Filing vs Paying vs Instalments
Corporate tax compliance involves three separate deadlines. Many corporations mistakenly treat these as one, leading to penalties and interest charges.
| Deadline Type | What It Covers | Typical Timing | Where to Confirm |
| T2 filing deadline | T2 Corporation Income Tax Return submission | 6 months after tax year-end | CRA My Business Account, T4012 guide |
| Balance-due day | Payment of corporate taxes owing | 2 months after year-end (3 months for eligible CCPCs) | CRA payment schedule, instalment reminders |
| Instalment payments | Tax remittances throughout the year | Monthly or quarterly (eligibility-based) | My Business Account, Represent a Client |
T2 Corporate Tax Return Filing Deadline (The 6-Month Rule)
The T2 Corporation Income Tax Return must be filed within 6 months after the end of each corporate tax year. The calculation follows specific rules that depend on whether your tax year-end falls on the last day of a month.
How to Calculate Your T2 Filing Due Date
The calculation method depends on whether your corporate tax year-end is the last day of the month.
If your tax year-end is the last day of a month, your T2 filing due date is the last day of the 6th month after year-end. If your year-end is not the last day of a month, your filing due date is the same day of the 6th month after year-end.
Your corporate tax year (also called a fiscal period) cannot exceed 53 weeks or 371 days, according to CRA’s corporation tax guidelines.
Examples
| Tax Year-End | Filing Due Date | Calculation Method |
| March 31, 2024 | September 30, 2024 | Last day of the month → last day of the 6th month |
| August 31, 2024 | February 28, 2025 | Last day of the month → last day of the 6th month |
| September 23, 2024 | March 23, 2025 | Not last day → same day of 6th month |
| December 15, 2024 | June 15, 2025 | Not last day → same day of 6th month |
| January 31, 2025 | July 31, 2025 | Last day of the month → last day of the 6th month |
What if the Due Date Lands on a Weekend or Holiday?
If your filing due date falls on a Saturday, Sunday, or CRA-recognised public holiday, your return is on time if CRA receives it or it is postmarked by the next business day. CRA-recognised holidays include New Year’s Day, Good Friday, Victoria Day, Canada Day, Labour Day, Thanksgiving, Remembrance Day, Christmas Day, and Boxing Day. Provincial holidays also extend deadlines in the relevant province.
What if You’re Expecting a Refund?
Corporations must file their T2 return within 3 years after the end of their tax year to receive a refund. Missing this deadline forfeits your refund rights even if CRA owes your corporation money.
Who Must File a T2 Return in Canada (Even if Inactive)
All resident corporations must file a T2 return every tax year, even if no tax is payable. This includes inactive corporations, tax-exempt corporations, and non-profit organisations. Limited exceptions exist for certain organisations listed under section 149 of the Income Tax Act, such as registered charities that meet specific criteria.
Non-resident corporations must file if they carried on business in Canada, disposed of taxable Canadian property, or had a taxable capital gain.
If your corporation operates in Ontario, your federal T2 return also covers Ontario corporate income tax because CRA administers Ontario’s system. Ontario is one of 8 provinces and 3 territories using the CRA-administered system. Only Quebec and Alberta require separate provincial returns.
Corporate Tax Payment Deadline (Balance-Due Day)
The balance-due day is when corporate taxes must be paid, which is separate from and earlier than the T2 filing deadline.
What Is the Balance-Due Day?
Balance-due day is the CRA term for the deadline to pay taxes under Parts I, VI, VI.1, and XIII.1 of the Income Tax Act. Part I covers regular corporate income tax. Parts III and Part XII.6 have different payment rules.
Most Corporations → 2 Months After Year-End
Most corporations must pay their balance owing 2 months after their tax year-end. For a corporation with a March 31 tax year-end, the balance-due day is May 31.
Eligible CCPCs → 3 Months After Year-End
Canadian-controlled private corporations that meet three specific conditions can pay their balance owing 3 months after tax year-end instead of 2 months.
| Condition | Requirement |
| Corporation status | Must be a CCPC throughout the tax year |
| Small business deduction | Claimed SBD in the current or previous tax year |
| Taxable income test (not associated) | Taxable income ≤ business limit for both current and previous tax years |
| Taxable income test (associated) | Combined group taxable income ≤ combined business limits for both years |
Associated corporations share the business limit among the group. The 3-month extension depends on the combined taxable income of all associated corporations.
If Your Payment Due Date Lands on a Weekend or Holiday
Payment is on time if CRA receives the payment by the next business day when the balance-due day falls on a weekend or public holiday.
Corporate Tax Instalments (Monthly vs Quarterly)
Corporations generally pay tax throughout the year through monthly instalments. Eligible small CCPCs can qualify for quarterly instalments.
Who Generally Has to Pay Instalments?
Corporations with estimated taxes payable exceeding $3,000 must pay instalments for Part I tax, provincial and territorial tax (except Alberta and Quebec), Part VI.1 tax, and Part XIII.1 tax. Instalments paid during the year reduce the balance owing on the balance-due day.
When You May NOT Have to Pay Instalments
Corporations do not pay instalments in their first tax year or when total taxes payable are $3,000 or less for both current and previous years.
The $3,000 threshold applies if estimated taxes payable are $3,000 or less for the current tax year AND total taxes payable were $3,000 or less for the previous tax year. Tax years shorter than 365 days may have pro-rated thresholds that exempt corporations from instalments.
Quarterly Instalments Eligibility (Small CCPCs)
Small CCPCs with a perfect compliance history can pay quarterly instalments if their taxable income does not exceed $500,000 and taxable capital does not exceed $10 million.
| Criterion | Threshold |
| Corporation type | Must be CCPC throughout the tax year |
| Compliance history | Perfect compliance with filing and payment requirements |
| Taxable income | ≤ $500,000 in current and previous tax year |
| Taxable capital | ≤ $10 million in the previous tax year |
If your corporation has associated corporations, these thresholds apply to the combined group total. Loss of eligibility during a tax year requires immediate reversion to monthly instalments.
Instalment Due Date Calculation
Instalment due dates are calculated as “one month less a day” for monthly instalments or “one quarter less a day” for quarterly instalments from the start of the tax year.
For a corporation with a January 1 tax year start, paying monthly instalments, the first instalment is due January 31. For a corporation with an April 1 tax year start, paying quarterly instalments, the first instalment is due June 30.
Confirm your specific instalment due dates through CRA’s My Business Account, where CRA calculates and displays your required instalments and due dates.
How to File Your T2 (and the Post-2023 E-File Requirement)
For tax years starting after 2023, corporations must file their T2 return electronically with CRA unless they qualify for specific exceptions, with a $1,000 penalty for non-compliance.
Exceptions include insurance corporations, non-resident corporations using paper forms, corporations reporting in functional currency other than Canadian dollars, and organisations exempt under section 149 of the Income Tax Act. Learn more about CRA’s mandatory electronic filing requirements.
The T2 return includes the General Index of Financial Information (GIFI), which provides standardised financial data to CRA. Corporations file electronically using CRA-certified tax preparation software or through My Business Account.
What Happens if You File or Pay Late
Late filing when tax is owing triggers a penalty of 5% of the unpaid tax at the filing deadline plus 1% of the unpaid tax for each month the return is late, up to 12 months.
If CRA has demanded filing or assessed a repeat failure penalty within the previous 3 years, the penalty increases to 10% of the unpaid tax plus 2% per month for up to 20 months.
Interest charges compound daily on unpaid amounts from the balance-due day until payment. CRA may cancel or waive penalties and interest in circumstances beyond your control through the taxpayer relief provisions.
Common Questions About Corporate Tax Deadlines
What is the deadline to pay corporate taxes in Canada?
The balance-due day is generally 2 months after tax year-end, or 3 months for Canadian-controlled private corporations that claim the small business deduction and meet taxable income thresholds.
How long do you have to file your corporate taxes?
Corporations have 6 months after their tax year-end to file the T2 Corporation Income Tax Return.
Is CRA extending the corporate tax deadline in 2025?
Standard corporate tax deadlines apply in 2025: 6 months for filing and 2-3 months for payment. CRA may waive penalties and interest in circumstances beyond the taxpayer’s control through taxpayer relief provisions, but this does not extend the actual deadlines.
What is an “S corporation” deadline?
“S corporation” is a United States tax classification that does not exist in Canada. Canadian corporations file T2 returns with a filing deadline 6 months after tax year-end and balance-due day 2-3 months after year-end.
Conclusion
Managing corporate tax compliance requires tracking three separate deadlines: T2 filing (6 months after year-end), payment (2-3 months after year-end), and instalments (monthly or quarterly throughout the year). Missing these deadlines triggers penalties from 5% to 10% of unpaid tax plus monthly penalties.
