🟢 Voluntary Disclosure – Corporate Taxes

The CRA's Voluntary Disclosure Program allows taxpayers to correct previously filed returns or to file returns that were never submitted. While you still need to pay the taxes and interest on any late payments, this program can help you avoid the penalties that would normally apply.

🟢 Taxpayer Relief Program – Corporate Taxes

The Taxpayer Relief Program is there for those who find themselves in special circumstances. If you couldn’t file your tax returns due to something beyond your control, like a fire or flood, this program might be for you. The CRA reviews applications on a case-by-case basis. If your application is accepted, the CRA may waive the interest and penalties, but any owed taxes will still be your responsibility. Taxes are a necessary part of life that fund many public benefits, so they can't be avoided entirely!

The CRA is usually reasonable when it comes to setting up payment plans if you’re unable to pay the full amount of taxes owed.

🟢 Non-Filer Program – Corporate Taxes

This program is designed to encourage taxpayers to file their returns voluntarily. If you fail to do so, the CRA has the right to enforce compliance under the Canadian Income Tax Act. The CRA can demand returns, initiate field visits, or assess an amount owing. Often, when the CRA makes an arbitrary assessment, the amount owed is more than it would have been if you had filed your corporate taxes. Another reason to stay on top of things! Once you file your return, the CRA will adjust your tax owing to the actual balance.