Income Tax Act

Marginal note:Return and payment of tax

• 207.07 (1) A person who is liable to pay tax under this Part for all or any part of a calendar year shall within 90 days after the end of the year

  • (a) file with the Minister a return for the year under this subsection in prescribed form and containing prescribed information including

    • (i) an estimate of the amount of tax payable under this Part by the person in respect of the year, and

    • (ii) an estimate of the amount of the person’s allowable refund, if any, for the year; and

  • (b) pay to the Receiver General the amount, if any, by which the amount of the person’s tax payable under this Part in respect of the year exceeds the person’s allowable refund, if any, for the year.

• Marginal note:Refund

  (2) If a person has filed a return under this Part for a calendar year within three years after the end of the year, the Minister

  • (a) may, on mailing the notice of assessment for the year, refund without application any allowable refund of the person for the year, to the extent that it was not applied against the person’s tax payable under paragraph (1)(b); and

  • (b) shall, with all due dispatch, make the refund referred to in paragraph (a) after mailing the notice of assessment if an application for it has been made in writing by the person within three years after the mailing of an original notice of assessment for the year.

• Marginal note:Provisions applicable to Part

  (3) Subsections 150(2) and (3), sections 152 and 158 to 167 and Division J of Part I apply to this Part with any modifications that the circumstances require.