The Canada Revenue Agency sets strict due dates for tax returns and payments, and failure to meet these deadlines can result in owing interest, fees, or penalties. As a taxpayer, it’s important to keep appraised of what the CRA expects and when.
Filing Due Date for Individuals
- Individuals and most business owners must file their income tax returns by April 30 of the year following the tax year for which the return is being filed.
- If you are self-employed, however, the CRA extends the filing deadline to June 15, but it begins assessing interest on your tax due on April 30.
If the due date falls on a holiday or a weekend, the deadline moves to midnight of the following business day. Additionally, if you want to file early, the CRA opens its NETFILE service to electronically receive submitted returns in early February each year.
Instalment Payments Due Dates
If you make instalment payments on your income tax, your payments are due four times throughout the year on the 15th of March, June, September, and December.
Deadlines for Deceased Tax Filers
After a person has died, his legal representative must submit the individual’s final tax return. If the individual died between Jan. 1 and Oct. 31 of the previous tax year, his final return is due on April 30. However, if he died between Nov. 1 and Dec. 31, his return is due six months after the date of his death.
For example, if you are filing a return for your deceased mother who passed away on Nov. 15, her final return is due on May 15.
If the deceased person or his spouse or common-law partner was self-employed, the due date is June 15. However, again, the CRA begins assessing tax on any balances owed on April 30.
The CRA requires most business owners to submit their returns by April 30 if their business fiscal year matches the calendar year. However, businesses may opt to observe a non-calendar fiscal year, and if they do, their returns are due six months after the end of their fiscal year.
GST/HST filing deadline
Whether you file your GST/HST taxes monthly or quarterly, the return and the payment are due one month after the end of the reporting period.
Deadlines for employers
If you hire an employee, you have to have your employee complete a TD1 form within seven days of being hired. You also have to send your employee a T4 information slip by the last day of February following the year to which the information slips apply.
Finally, if your business goes out of business, the CRA requires you to submit your final CPP contributions, EI premiums, and income tax deductions within seven days of closing your doors. It also requires you to submit any T4 slips as well as a R4 summary and file it within 90 days.
Tracking Due Dates
To help you stay on top of filing due dates, the CRA has a mobile app. You can download it for free and set reminders for the dates that apply to you. Additionally, you can check on extensions to the usual due dates.