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Notes

(1) The Ontario and federal governments signed a tax collection agreement under which the

federal government collects and administers Ontario’s corporate tax system for taxation

years ending after 2008 (see the table "Ontario Harmonization").

(2) For federal purposes, in order to qualify for the extension, the corporation must be a

Canadian-controlled private corporation (CCPC) throughout the year, must have taxable

income not exceeding the small business income threshold (see the table "Small Business

Income Thresholds for 2013 to 2014") on an associated group basis in the preceding year,

and must claim the small business deduction in the current or the preceding year.

(3) For Alberta purposes, in order to qualify for the extension, the corporation must be a CCPC

throughout the year and, in either the current or the preceding year, must have claimed

the Alberta small business deduction and must have had taxable income of not more than

$500,000. The extension is also available for CCPCs with a tax liability of $2,000 or less in

either the current or the preceding year.

(4) Listed financial institutions that are corporations must complete Form CO-1159.2—Calcul

de la taxe compensatoire des institutions financières and file it with their corporate income

tax returns. Other listed financial institutions must include the compensation tax on

their Relevé 1 Summary. (see the table "

Québec Compensation Tax for Listed Financial

Institutions").

(5) Corporations that are subject to capital tax in Nova Scotia must remit the balance of taxes

payable within two months after year end (see the table "Capital Tax Rates—Financial

Institutions").

(6) A Notice of Objection filed by a large corporation must reasonably describe each issue

to be decided, specify the relief sought, detail the amount of the change in any balance,

and provide facts and reasons relied on for each issue. A corporation is treated as a large

corporation if the total taxable capital employed in Canada of all related corporations at the

end of the taxation year exceeds $10 million. Other corporations have the option of using

Form T400A or simply writing a letter setting out the facts and reasons for the objection.

(7) For taxation years ending after 2008, Ontario corporations will be subject to the 90-day

limit for Notices of Objection (not 180 days). Notices of Objection must be received by the

Alberta Tax and Revenue Administration within 90 days.

(8) Some provinces require the use of a prescribed form, while others will accept a written

statement detailing all pertinent facts and reasons. Most provinces follow the federal rules

in respect of large corporations. Notices of objection must be received by the Alberta Tax

and Revenue Administration within 90 days.

In Alberta, “large corporations” (as defined for federal purposes) must file Form AT97 —

Notice of Objections, for all objections including federal-parallel objections and which

must include a full description of the issues to which it is objecting, the reasons for the

objection and an estimate of the dollar amount in dispute for each issue. Where the federal

and Alberta objections are for the same issue, corporations that are not considered “large

corporations” may instead file a copy of only the federal objection with the Alberta Tax and

Revenue Administration provided that it includes all information required on Form AT97.

Supporting documents should be provided in all cases.

Filing and Payment Deadlines

Current as of September 30, 2013