Income tax Dates
FEB 7End-of-year income tax and Working for Families bills are due, unless you have an extension of time to file your income tax return.
FEB 28Provisional tax payments are due if you have a March balance date and use the ratio option.
MAR 31Income tax returns are due if you have an extension of time
A look-through company (LTC) is a special type of company. It's a separate legal entity but for income tax purposes it's treated like a partnership.
A look-through company must file income tax returns and report to us the same way as an ordinary company.
Owners can offset the look-through company's losses against their other income. They must pay tax on a look-through company's profits.
Look-through company owners are treated as:
- carrying on the activities and having the status, intentions and purposes of the look-through company
- holding the look-through company's property
- being a part of any arrangement the look-through company is involved in
- doing an activity or being entitled to anything the look-through company does or is entitled to.