The Canada Revenue Agency sets strict due dates for tax returns and payments, and failure to meet these deadlines can result in interest, fees, or penalties owing. As a taxpayer, it’s important to keep in mind the CRA expectations surrounding these due dates.
Filing Due Date for Individuals
When your personal T1 General Tax Return is not filed on time, you will be charged late filing penalties and interest on any amounts owed to CRA.
- 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 of the year following the tax year for which the return is being filed. This means you are not liable for the late-filing penalty, but CRA will begin assessing interest on any unpaid amounts owing for the tax year starting May 1st.
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 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
Once a person has passed away, the appointed legal representative must submit the individual’s final tax return.
- If the individual passed away between Jan. 1 and Oct. 31 of the previous tax year, the final return is due on April 30.
- If an individual passes away between Nov. 1 and Dec. 31, the return is due six months after the date of 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 their spouse or common-law partner was self-employed, the due date is June 15. However, again, the CRA begins assessing interest on any balances owed on April 30.
The CRA requires most business owners (Sole-Proprietors or Partnerships) to submit their returns by April 30 if their business fiscal year matches the calendar year. However, some 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
If you are self-employed GST/HST Registrant, you will need to file a GST/HST Return on a regular basis, even if you have no income to report. GST/HST registrants have “reporting periods” which are monthly, quarterly or annually. Monthly and quarterly filers must file the return and payment one month after the end of the reporting period. Annual filers have until June 15 of the year following the tax year for which the return is being filed.
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 you go out of business, the CRA requires you to submit your final CPP contributions, EI premiums, and income tax deductions (payroll remittances or source deductions) within seven days of closing your doors. It also requires you to submit any T4 slips as well as a T4 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.