RE:RE:RE:Love the revenue!!! But why not make deadline?Further more, as mentioned before and some here call it false (shorters???) Namaste would be smart to re-aling their year end to be the same as the big boys they wish to play with. March 31st.
I submit, thats what Sean is doing, this will be halted until the uplisting is released. All the profits taken this afternoon from the secotr are stock piling to dump into Namaste once they start trading again, ridiculous? Really, uplisting to TSX is a prime example as to why you would easy be allowed to change your year end, also, material change in business (slaes licence anyone....selling pipe to sell weed is big change) see below...
Mark my words, this was planned, smoke and mirrors to casue a big splash!
Corporation income tax
Fiscal period
Generally, unless you have received approval to change the tax year-end, the corporation’s fiscal period is the same from year to year.
To change an established fiscal period, write a letter to your tax services office asking for approval and explain the reasons for the change.
However, you do not need approval to change the fiscal period in some situations, including the following:
- The corporation has wound-up and you are filing its final return with an abbreviated fiscal period;
- The corporation has to end its tax year at a certain time because it is emigrating to another country, becoming exempt from tax, or ceasing to be exempt from tax; or
- A person or a group of persons acquired control of the corporation under subsection 249(4).