Liquidation of a Corporation or a Partnership
The liquidator of a corporation or partnership must request that we cancel the GST and QST registration. The liquidator must also request that we cancel the registration for other consumption taxes, if applicable.
If the corporation or partnership holds a permit in the fuel or tobacco sector, you must inform us of the liquidation before the corporation or partnership is liquidated by doing one of the following:
- filing form LM-4-V, Information Update: Fuel Tax Act and Tobacco Tax Act
- sending us a letter providing the necessary information
In addition, if the corporation holds an IFTA licence, you must request that the licence be cancelled.
Source deductions and employer contributions
Before a corporation or partnership is liquidated, it must, as an employer, make its final remittance and file the required forms by the prescribed deadlines. For more information, click You Stop Making Remittances.
In addition, the liquidator must request cancellation of the corporation's or partnership's registration for source deductions by filing form LM-1.A-V, Request for Cancellation or Variation of Registration.
Income tax – Corporations
You must file a corporation income tax return for the taxation year in which a corporation was liquidated if you are required to file a corporation income tax return for that taxation year. In addition, you are generally required to file income tax returns for the corporation until it is dissolved.
If you are not required to file a return, you can request that we cancel the corporation's registration for corporation income tax by filing form LM-1.A-V, Request for Cancellation or Variation of Registration.
As a director of a corporation, you are liable for your actions (for example, when you distribute the corporation's property).
Partnership information return
Before a partnership is liquidated, you must file a final information return for the fiscal period ending on the date the partnership ceased its activities.
Within 30 days following the date on which the certificate of dissolution or notice of closure of liquidation is issued, the liquidator must remit any unclaimed amounts and dividends to us.
For more information on unclaimed property, click Unclaimed Property.