Income Tax Act — I-3.3 162
Failure to file return of income 162 (1) Every person who fails to file a return of income for a taxation year as and when required by subsection 150(1) is liable to a penalty equal to the total of (a) an amount equal to 5% of the person’s tax payable under this Part for the year that was unpaid when the return was required to be filed, and (b) the product obtained when 1% of the person’s tax payable under this Part for the year that was unpaid when the return was required to be filed is multiplied by the number of complete months, not exceeding 12, from the date on which the return was required to be filed to the date on which the return was filed. Repeated failure to file (2) Every person (a) who fails to file a return of income for a taxation year as and when required by subsection 150(1), (b) to whom a demand for a return for the year has been sent under subsection 150(2), and (c) by whom, before the time of failure, a penalty was payable under this subsection or subsection 162(1) in respect of a return of income for any of the 3 preceding taxation years is liable to a penalty equal to the total of (d) an amount equal to 10% of the person’s tax payable under this Part for the year that was unpaid when the return was required to be filed, and (e) the product obtained when 2% of the person’s tax payable under this Part for the year that was unpaid when the return was required to be filed is multiplied by the number of complete months, not exceeding 20, from the date on which the return was required to be filed to the date on which the return was filed. Failure to file - non-resident corporation (2.1) Notwithstanding subsections (1) and (2), if a non-resident corporation is liable to a penalty under subsection (1) or (2) for failure to file a return of income for a taxation year, the amount of the penalty is the greater of (a) the amount computed under subsection (1) or (2), as the case may be, and (b) an amount equal to the greater of (i) $100, and (ii) $25 times the number of days, not exceeding 100, from the day on which the return was required to be filed to the day on which the return is filed. Failure to file by trustee (3) Every person who fails to file a return as required by subsection 150(3) is liable to a penalty of $10 for each day of default but not exceeding $50. Ownership certificate (4) Every person who (a) fails to complete an ownership certificate as required by section 234, (b) fails to deliver an ownership certificate in the manner prescribed at the time prescribed and at the place prescribed by regulations made under that section, or (c) cashes a coupon or warrant for which an ownership certificate has not been completed pursuant to that section, is liable to a penalty of $50. Failure to provide information on form (5) Every person who fails to provide any information required on a prescribed form made under this Act or a regulation is liable to a penalty of $100 for each such failure, unless (a) in the case of information required in respect of another person or partnership, a reasonable effort was made by the person to obtain the information from the other person or partnership; or (b) in the case of a failure to provide a Social Insurance Number on a return of income, the person had applied for the assignment of the Number and had not received it at the time the return was filed. Failure to provide claim preparer information (5.1) Every person or partnership who makes, or participates in, assents to or acquiesces in the making of, a false statement or omission in respect of claim preparer information required to be included in an SR&ED form is jointly and severally, or solidarily, liable, together with any claim preparer of the form, to a penalty equal to $1,000. Due diligence (5.2) A claim preparer of an SR&ED form is not liable for a penalty under subsection (5.1) in respect of a false statement or omission if the claim preparer has exercised the degree of care, diligence and skill to prevent the mak