Legal Question in Business Law in Canada
Once I liquidate the assets and file form 17 (Articles of Dissolution) with Corporations Canada, how do I go about letting the CRA know to close the corporations tax accounts? CAn that all be done through the company's accountant?
1 Answer from Attorneys
When closing your business there are a few things you will need to do, namely; notifying Canada Revenue Agency (CRA), filing a final tax return, paying any outstanding tax amounts, and financing your succession planning.
You need to complete certain Canada Revenue Agency forms relating to payroll, GST/HST, and corporate income tax.
CRA has the forms here: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/changes-your-business/closing-accounts.html
And yes, a qualified accountant can help you with these forms.
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