Paying Income Tax Date
Posted by | Posted in Business News | Posted on 14-02-2010
You have to pay any income tax balance owing by April 30th, assuming that your business’s fiscal year ended on December 31, which is the case with most businesses.
Oddly, however, “if you have self-employment income, or are the spouse or common-law partner of someone who does, unless the expenditures of the business are mainly the cost or capital cost of tax shelter investments” (CRA), you have until June 15th to file your income tax return.
Even if you’re not filing your income tax until June 15th, though, you still need to pay any income tax due by April 30th, to avoid paying interest charges.
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