Your corporation is entitled to the temporary exemption

A corporation may be required to pay instalments for fiscal periods included in its exemption period.

A corporation must pay instalments if its total income tax and tax on capital (This link will open a new window) payable for the current fiscal period exceeds $3,000, after the exemption is applied, and if the total income tax and tax on capital that it would have paid for its previous fiscal period, had it not been exempt, exceeds $3,000. Financial institutions should not include compensation tax in this calculation.

Once you have determined that your corporation is required to pay instalments, you must calculate the amount of the instalments by totalling the income tax, tax on capital and compensation tax that the corporation would have paid for its previous fiscal periods had it not been exempt. For the current fiscal period, estimate the total income tax, tax on capital and compensation tax payable after the exemption is applied.

To check whether your corporation is required to pay instalments for the current fiscal period and, where applicable, to determine the amount, consult the "Renseignements" section on form CO-1027, Calcul des acomptes provisionnels des sociétés.