A Canadian corporation has two deadlines each year, and they are not the same day. The tax owing is due two or three months after the year end; the T2 return is due six months after it. Most penalties come from mixing the two up, so here are both, with the 2027 dates for the most common year ends.
When is the T2 return due?
The T2 is due six months after the end of the corporation’s tax year. If the year ends on the last day of a month, the return is due on the last day of the sixth month after it; a December 31 year end means June 30. Every resident corporation files every year, even with no income and no tax to pay. Ontario corporate income tax is filed with the T2 and paid to the CRA, so there is no separate provincial return.
When is the tax due?
The balance owing is due two months after the year end. Many small Canadian-controlled private corporations get three months: the corporation must be a CCPC throughout the year, have claimed the small business deduction for the current or previous year, and have had taxable income (with associated corporations) no higher than its business limit, generally $500,000, in the previous year.
The payment deadline does not move because the return is filed later. Interest runs from the balance-due date at the CRA’s prescribed rate, compounded daily.
2027 dates for common year ends
| Year end | Balance due (2 months) | Balance due (3 months, eligible CCPCs) | T2 due |
|---|---|---|---|
| September 30, 2026 | November 30, 2026 | December 31, 2026 | March 31, 2027 |
| December 31, 2026 | March 1, 2027 (February 28 is a Sunday) | March 31, 2027 | June 30, 2027 |
| March 31, 2027 | May 31, 2027 | June 30, 2027 | September 30, 2027 |
| June 30, 2027 | August 31, 2027 | September 30, 2027 | December 31, 2027 |
When a due date falls on a weekend or a public holiday the CRA recognizes, a return or payment received on the next business day is on time.
Can I get an extension?
No. The CRA does not extend the T2 filing deadline. If the books aren’t ready, the safer course is to estimate and pay the tax by the balance-due date, then file as soon as possible.
What happens if the T2 is late?
If tax is owing, the late-filing penalty is 5% of the unpaid tax plus 1% for each full month late, up to 12 months. A second late filing within three years after a formal demand doubles it: 10% plus 2% a month, up to 20 months. Interest is charged on both the tax and the penalty.
If you have missed more than one year, read Unfiled Taxes in Canada before filing anything. The CRA’s Voluntary Disclosures Program may reduce penalties and interest, but only if you apply first.
Other deadlines tied to your year end
- Instalments: most corporations whose tax for the current or previous year is more than $3,000 pay monthly instalments; some small CCPCs can pay quarterly.
- T4 and T5 slips: due on the last day of February for the calendar year, whatever your fiscal year end.
- SR&ED claims: due 12 months after the T2 due date. For a December 31, 2026 year end that is June 30, 2028; miss it and the credit is lost. See SR&ED Tax Incentives.
Need help meeting the deadline?
Sun Tax Accounting prepares T2 returns for owner-managed corporations from our offices in Mississauga and Brampton, and catches up corporations that have fallen behind. Book a free 30-minute consultation or call (647) 831-7979. More about our corporate tax services.
General information current to October 2026, not advice for your situation. Source: Canada Revenue Agency.
[…] An SR&ED claim is due 12 months after your corporate tax return’s due date, which for most companies is 18 months after the year end. Late claims are lost. See Corporate Tax Return Due Dates in Canada (2027). […]