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What is the total penalty

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Question - Ken Kaye Ltd., a CCPC eligible for the small business deduction, has a January 31 year end. Due to the untimely departure of a key employee, the tax return for the year ended January 31, 2006 was not filed until March 1, 2008. The unpaid tax on January 31, 2006 was $5,500. In the past, all returns have been filed on time. What is the total penalty, excluding interest that the corporation is required to pay?

(a) Nil

(b) $275

(c) $660

(d) $935

Reference no: EM132600204

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