Information Notice 6001 May 2002

About this Notice

This Notice is a reminder of the simplification oftax filing procedures announced in the 2001 Ontario Budget.

Background

Previously, the Corporations Tax Act (CTA) provided that monthly tax instalments were required where the tax payable for the year was equal to or greater than $2,000.

Quarterly Instalments

To simplify instalment requirements for more small businesses, corporations with tax payable for the current or immediately preceding taxation year equal to or greater than $2,000 and less than $10,000 are allowed to calculate and
pay their instalments on a quarterly basis. This change was announced in the 2001 Ontario Budget and is effective for years commencing after December 31, 2001.

For More Information

For more information, please contact the Accounts enquiry lines of the Corporations Tax Branch:

• Toronto 416 920-9048 ext. 3036; French ext. 6062
• Oshawa 905 433-6708
• Toll-Free 1 800 262-0784 ext. 3036; French ext. 6062
• Fax 905 433-5197
• Teletypewriter (TTY) 1 800 263-7776

Hours of Service: 8:30 am to 5:00 p.m., or visit our website at ontario.ca/revenue.

© Queen's Printer for Ontario, 2002

ISBN 0-7794-2856-0