Accounting periods

If your business uses accounting periods other than calendar months or quarters, you have to notify us of the periods you have chosen. For example, if your business uses an exact 52-week fiscal period, the date of your fiscal year-end will differ from year to year.

If you do not notify us of your accounting periods, we will assign fiscal months and fiscal quarters based on calendar months and calendar quarters, and you will have to wait until your next fiscal year to have this option again.

As a rule, your accounting periods have to meet the following guidelines:

• Each fiscal month has to be a maximum up to 35 days and, except for the first and the last month in a fiscal quarter, minimum of
  28 days.

You can apply to have one fiscal month per quarter that is longer than 35 days.

You can also apply to have fiscal months, other than the first or last month of the quarter, that are shorter than 28 days.

• A fiscal quarter has to be a maximum up to 119 days and, except for the first and last fiscal quarters in the fiscal year, minimum of 84 days.

If your business is using accounting periods other than calendar months or quarters, or if you want to use fiscal months that do not meet the guidelines, complete and send us Form GST71, Notification of Accounting Periods, or send us a written request before the first day of each fiscal period to which it relates.

Forms and publications

• General Information for GST/HST Registrants guide (RC4022)
• The Business Number and Your Canada Customs and Revenue Agency Accounts booklet (RC2)
• Form RC1, Request for a Business Number (BN)
• Form GST71, Notification of Accounting Periods

Related topics

• Business Registration On-line
• BusinessGateway.ca
• Related provincial and territorial government sites
• Canada's Business and Consumer Site