Tax return versus Annual Return – they are not the same thing!

A Corporation's Canada Annual Return and a Canada Revenue Agency (CRA) Corporate Income Tax Return are two separate documents that serve different purposes.

Annual Return is for Corporations Canada, and Tax Return is for the CRA.

A Corporation's Canada Annual Return, also known as Form 1, is a document that is filed annually with Corporations Canada, the federal government agency responsible for the incorporation and registration of corporations in Canada. The purpose of this document is to ensure that a corporation remains in good standing with Corporations Canada by providing information about the corporation's current directors and registered office address. It also serves as a way for Corporations Canada to confirm that a corporation is still active and has not been dissolved. Failure to file an annual return can result in a corporation being struck from the register and losing its legal status.

On the other hand, a CRA corporation Income Tax Return, also known as Form T2, is a document that is filed annually with the CRA, the federal government agency responsible for the administration of taxes in Canada. The purpose of this document is to report a corporation's income and expenses for a given tax year, and to calculate the corporation's tax liability. The corporation's income tax return also serves as a way for the CRA to assess the corporation's compliance with tax laws and regulations. Failure to file a corporate income tax return can result in penalties and fines.

It is important to note that while both documents are filed annually, the due dates for filing are different. A Corporation's Canada Annual Return is typically due within 60 days of the corporation's anniversary date, while a CRA Corporate Income Tax Return is typically due six months after the end of the corporation's tax year.

In summary, a Corporation's Canada Annual Return is a document that is filed with Corporations Canada to maintain the corporation's good standing and confirm that it is still active. A CRA Corporate Income Tax Return is a document that is filed with the CRA to report the corporation's income and expenses for a given tax year and calculate the corporation's tax liability. Both documents are filed annually, but have different due dates.

For deadlines and due dates for Corporations Canada Annual Returns, see it here:

Annual return versus tax return – they are not the same thing! (canada.ca)

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