Canadian Income Tax FAQs for Small Businesses

Answers to Canada Tax Questions

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Have Canadian income tax questions related to running a business?

Whether you're wondering how long you have to keep your business records, when corporate income tax is due or about what you can or can't deduct on your income tax, these Canadian income tax FAQs have the answer.

Click on any of the Canadian income tax questions below to read the answer to that Canadian income tax question.

Canada Tax Questions: Canadian Income Tax Dates and Penalties

Q. When are Canadian taxes due?

Q. When must Canadian corporate income tax returns be filed?

Q. When are corporate taxes due if there is a balance owing?

Q. What happens if I don't file my Canadian income tax on time?

Q. What happens if I can't pay the Canadian income tax that I owe?

Canada Tax Questions: Filing Canadian Income Tax

Q. What are my options for filing Canadian income tax?

Q. How do I report my business income and which Canadian income tax forms do I need?

Q. Do I have to fill out income tax form T2125?

Q. My business is a partnership. Is there a special Canadian income tax form I need to fill out?

Q. My business is incorporated. Do I still need to file a T1 income tax form?

Q. Some of my business income is from other countries. How do I handle this on my Canadian income tax form?

Q. I have a job as well as a part-time business. How do I report this on my income tax form?

Q. I don't really have a business, but I make a few bucks from my hobby. Do I need to declare this income?

Q. I have several businesses. How do I handle this on my income tax form?

Q. Can I file Canadian taxes online?

Q. How long does a tax refund take?

Canada Tax Questions: General Canadian Income Tax Questions

Q. What is business income?

Q. How long do I have to keep my business records?

Q. What is the Profit Test and how might it affect my Canadian income tax?

Q. What if I disagree with my income tax assessment?

Q. How do I change my fiscal year end?

Q. How is an Internet business taxed?

Q. How long does the Canada Revenue Agency have to decide to audit my business taxes after I file them?

Canada Tax Questions: Business Income Tax Deductions

Q. What business expenses can a Canadian business claim on income tax?

Q. Do I include taxes when claiming business expenses?

Q. My business made no money this year. Can I still claim business expenses?

Q. I just started a business recently, but I incurred business expenses before the business started. Can I claim these on my income tax?

Q. I incurred business expenses that I no longer have the receipts for. Can I claim these on my income tax?

Q. Do I include the GST/HST I paid when claiming Capital Cost Allowance?

Q. What Capital Cost Allowance class are computers and computer equipment in?

Q. Are there specific income tax deductions for home-based businesses?

Q. Is business promotion a legitimate tax deduction?

Q. What are the limits on charitable donation deductions for a Canadian business?

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