Which of the following statements with respect to corporations is NOT correct?
A)Corporate income tax returns must be filed within 6 months of the end of the taxation year.
B)All corporations must file their income tax returns electronically.
C)If the corporation is a CCPC, the due date for any balance owing is three months after the end of the taxation year.
D)If a corporation has foreign operations, it can determine its Canadian tax liabilities on the basis of financial statements prepared in the corporation's functional currency.

Question

Quizplus · Accepted Answer

While the Canadian government encourages electronic filing, it is not mandatory for all corporations to file their income tax returns electronically. They have the option to file a paper return instead.

Which of the Following Statements with Respect to Corporations Is