Hmmm ... not sure to be honest!

Income wise I am pretty sure that the reporting tax year goes January 1 - December 31st for having to file your income earned in a year ... however being self employed we have until June 15th i believe to actually FILE but if we owe money we will pay interest on the amount owed from April 30 date.

I know in a few of the centres I worked in that their 'year end' was different for various reasons but with reporting the income for staff we had to base T4 and so forth on the January 1 - December 31st.

I just chose to do my business around the fiscal year of January 1 - December 31st to be consistent.

If you do not OWE income tax you do not have to file this year - you can wait and file BOTH 2011 and 2012 next year and put any 'refund' you might have had for 2011 towards any owing you might have for 2012... your accountant would have to help you with which ever is the better way to do it.

I was in the same boat i opened in September so between September and December my income was a pittance ... however I still filed and got my refund cause I do not like the government keeping my money - I put it in the bank and earned interest on it to help towards what I had to pay the following year instead