Amalgamations

The balance-due day of a new corporation formed after an amalgamation has taken place will be affected by the new corporation's taxable income for the previous year. This taxable income is the total of the predecessor corporations' taxable income for their tax years that ended just before they amalgamated. See paragraph 87(2)(oo.1) of the Income Tax Act.

The same rule applies for determining the business limit.

Forms and publications

• T2 Corporation – Income Tax Guide (T4012)
• Corporation Instalment Guide (T7B-CORP)

Date modified:

2017-02-07