Mandatory Internet Filing penalty for Corporation income tax returns

Corporations with annual gross revenue of more than $1 million will be required to Internet file their corporation income tax returns for tax years ending after 2009. Corporations that are exempt from mandatory Internet filing are:

  • insurance corporations
  • non-resident corporations
  • corporations reporting in functional currency
  • corporations that are exempt from tax payable under section 149 of the Income Tax Act

The penalty for non-compliance with this filing requirement for tax years ending in 2012 is $500. For tax years ending after 2012, the penalty for non-compliance is $1000.

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