I had a client who moved their corporation from Ontario to BC 5 months after incorporating in Ontario. The client is now a resident in British columbia.
Would I file the return as in BC only (like the personal rule where you file based on residency on Dec 31)
or do I have to apportion for each province based on revenues?
Kind Regards,
Gerry A.
You would allocate income between jurisdictions using T2 schedule 5.
AS @ddickca said - Multiple Jurisdiction allocation.
Your client may well also need to file for extraprovincial registration with BC or make other legal corporate amendments to be compliant as a body corporate.
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This reinforces my suggestion that incorporating as a federal corporation might be advisable in many cases.
@obhorst Federal incorporation doesn’t really change anything. T2 still required MJ treatment and the corporation still needs to register as extraprovincial in BC (any corp not registered in BC carrying on business there does…).
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