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When 2018 Income Taxes are Due 2019 For Regular and Self-Employed Filers

Have you left filing your taxes to the last minute?

The last day to file your 2018 income taxes is April 30, 2019.

We hope you haven’t, but don’t worry because as the deadline approaches, NETFILE is still open and available and TurboTax is ready and waiting to help you maximize your deductions and by filing on time, avoiding any unnecessary penalties.

Here are the key dates you need to know to file your tax return on time with the Canada Revenue Agency (CRA).

2019 Tax Deadline for Personal Returns

April 30th, 2019 is the deadline for filing your personal income tax return to the CRA.

If you’re a resident of Québec, the deadline to file your Québec tax return to Revenu Québec is also April 30th.

Remember: You have to file an income tax return for 2018 if:

  • You have to pay tax for the year
  • Want to claim a refund
  • Want to claim the working income tax benefit (WITB) or you received WITB advance payments in the year
  • You or your spouse or common-law partner want to begin or continue receiving the following payments (including any related provincial or territorial payments):

If you have a spouse or common-law partner, they also have to file a return.

  • The CRA sent you a request to file a return
  • You and your spouseor common-law partner are jointly electing to split pension income.
  • Disposed of capital property (which could be a principal residence) or you realized a taxable capital gain in the year
  • Have to repay all or part of your old age security or employment insurance benefits. See line 235
  • You have not repaid all the amounts you withdrew from your RRSP under the Home Buyers’ Planor the Lifelong Learning Plan
  • Have to contribute to the Canada Pension Plan (CPP) for 2018. This can apply if your total net self-employment income and pensionable employment income is more than $3,500
  • You are paying EI premiums on self-employment income or other eligible earnings
  • You incurred a non-capital loss in the year that you want to be able to apply in other years
  • Want to transfer or carry forward to a future year the unused part of your tuition fees
  • Want to report income that would allow you to contribute to an RRSP, PRPP or SPP to keep your maximum deduction limit for future years up to date
  • Want to carry forward to a future year the unused investment tax credit on expenditures you incurred during the current year.

I Filed Late. Now What?

Unfortunately, there can be consequences if you miss the tax deadline. Check out our post The Heavy Price of Late Tax Returns about the implications of filing late for more info.

Filing Deadline for Self-Employed Individuals

The CRA requires self-employed individuals and individuals who have self-employed income, to submit their income tax returns by June 17th, 2019.  Any taxes owing to the CRA, however, are due by April 30th, 2019, so if this return misses the June 17th tax deadline, and has a balance owing, the interest on the balance would begin to accrue effective May 1st, while the Late-Filing Penalty would be levied effective June 17th.

Avoiding Interest and Penalties

The CRA charges a late filing penalty of 5% of the balance owed plus an additional 1% for each month late.

Paying Your Taxes Owed

To make organizing your tax information and payments easy, the CRA offers My Account, an online portal where you can check your benefits, credits, and other tax issues. They also offer My Business Account, where you can track payroll, GST/HST, and other business taxes.

Through these accounts, you can stay on top of due dates and keep apprised of other vital information. However, without either of these accounts, you may still make early payments to the CRA using online banking, debit cards, credit cards, and third-party service providers.

If you have an account at a participating financial institution, you can send money to the CRA in person from your local branch. Alternatively, you can send the payment either by mail or by online transfer.

Using TurboTax and the specially designed suite of products for self-employed Canadians takes the guesswork out of taxes. With step-by-step instructions and easy-to-follow guides, TurboTax Self-Employed is the only software in Canada made just for you.  Additionally, TurboTax Self-Employed offers the full-service option to have the return completed for you by a tax expert, and Assist and Review, where a tax expert is available to answer questions and review your return before you file.

For Self-Employed Canadians, TurboTax has you covered!


2018 Provincial tax brackets

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