Fiscal period

Generally, unless you have received approval to change the tax year-end, the corporation’s fiscal period is the same from year to year.

To change a fiscal period, write a letter to your tax services office asking for approval and include details to explain the reasons for the change. If you do not include the reasons for requesting the change, the processing of your request may be delayed.

In some situations, you do not need approval to change the fiscal period. These situations include the following:

• The corporation has wound-up and you are filing its final return with an abbreviated fiscal period
• The corporation has to end its tax year at a certain time because it is emigrating to another country, becoming exempt from tax, or ceasing to be exempt from tax
• A person or a group of persons acquired control of the corporation under subsection 249(4)

Forms and publications

• Guide T4012, T2 Corporation – Income Tax Guide

Related topics

• Canada Business Network
• Related provincial and territorial government sites