Single Administration of Ontario Corporate Tax

The Governments of Canada and Ontario signed a Memorandum of Agreement on October 6, 2006, that will lead to the Canada Revenue Agency (CRA) administering most of Ontario's corporate taxes.

Ontario businesses will benefit from one form, one set of rules, one audit, one appeals process and one point of contact.

The CRA will administer the following corporate taxes on behalf of Ontario:
Corporate income tax
Corporate minimum tax
Capital tax
Special additional tax on life insurers

Ontario will continue to administer:
Mining tax
Insurance premiums tax
Electricity Act payments-in-lieu of federal and Ontario corporate taxes

Single administration will take effect for taxation years ending after December 31, 2008. This means that:

The CRA is now accepting blended provincial and federal instalment payments for the 2009 taxation year; and

The CRA will be ready to accept a single, harmonized T2 Corporation Income Tax Return (including the Ontario Corporations Information Act Annual Return) for taxation years ending after December 31, 2008.

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