Refunds

If an overpayment is made for the tax year, we will automatically refund it to the corporation, less any outstanding Corporation Capital Tax debts.

	indicating your request on your CCT return
	sending us a letter requesting the transfer before your return has been assessed

We will not refund any amount to a third party or another corporation's CCT account.

In general, we will not refund instalments until the return for the tax year has been assessed. However, you can request a refund of instalments in certain circumstances:

	if payments were intended for another tax jurisdiction, but made in error to the Government of British Columbia
	if payments were made by a corporation that is subsequently wound up in the year and will not have a CCT liability at its year-end
	if the corporation became exempt during the current tax year

Requests for the refund of instalment payments must be made prior to

	the required filing date, or
	the actual filing date of the CCT return for the year
whichever comes earlier.

Requests must be in writing and signed by an authorized officer of the corporation. Please be sure to include:

	the corporation's name and CCT account number
	the amount of instalments to be refunded
	the relevant tax year
	the reason for the request

Please note, if the amount of the refund results in an instalment deficiency, the corporation will be liable for interest and/or penalty charges.

Where a corporation, by making instalments, overpays its tax liability for a tax year, the overpayment will earn credit interest from the latter of

	the due date of the instalment
	the date the overpayment was made
until the date it is refunded.