Changing Fiscal Year-end Date

by Neeque

Fiscal Year-end Selection

Fiscal Year-end Selection

Is it possible to change the accounting year from June to May instead of January to December?

section divider

Hi Neeque,

As a general rule, sole proprietors in Canada must have a calendar year-end (January to December).

Any changes to your year-end must be approved by CRA. Contact them to see if it is possible in your situation.

Comments for Changing Fiscal Year-end Date

Click here to add your own comments

Mar 03, 2015
Changing year-end date
by: Bev

I would like to know if a non-profit can change the year-end date. Right now it is a Sept - Aug fiscal year. It would be more convenient for me, the bookkeeper, to have a June year-end. I should let you know that this group does not have to file a tax-return because it was formed before the CRA required non-profits to file (this information came from the accountant that prepares the year-end reports).


Mar 04, 2015
by: Lake

It is my understanding that a non-profit can change their year-end. To do so, I believe you have to contact the CRA to ask permission. Of course, here is the catch 22. I believe to ask permission you have to have an account with the CRA which means you have to file tax returns. You will also likely be required to have a vote on the issue at your Annual General Meeting.

Here are a few links for your reading pleasure:

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Home Business Taxes.

Share this page:
Enjoy this page? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?

  1. Click on the HTML link code below.
  2. Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.

Enjoy A Tea Break With
Me Today. Let's Chat!

Use the search feature to quickly find the
information you're looking for.

Your Learning Curve!


Warm up your tea cup and check out these chats ...

Click on image above to read the chat.

Join Me On Facebook

Help support this site by "liking" me! Here's where I post current information.

Listed Under Websites NOT Local Business.
This website is NOT associated with the business operating in Bonnyville AB.

A Handy Reference