Keeping track of tax filing and payment deadlines is essential to avoid late-filing penalties and interest. Below is a quick overview of the key due dates for common Canadian returns to help you stay compliant.

• T1 Individual Income Tax Return

T1 filing deadlines are the same for most individuals, except for those self-employed, deceased individuals, and the spouse/common-law partner of either.

• Most individuals: The deadline to file T1 personal income tax return and pay any balance owing is April 30^th of the year following the tax year.
• Self-employed individuals: If you or your spouse/common-law partner carried on a business during the year, your income tax return is generally due by June 15^th of the following year (exceptions apply). However, any balance owing must still be paid by April 30^th.
• Deceased Individuals: If you are filing a return for a deceased individual or their surviving spouse/common-law partner, the filing and payment deadlines are as follows:

1. If the death occurred between January 1^st and October 31^st (inclusive): Return and balance owing due date is April 30^th of the following year.
2. If the death occurred between November 1^st and December 31^st (inclusive): Return and balance owing due date is six months after the date of death.
3. When the deceased or their spouse/common-law partner was operating a business on the date of death and,

• Date of death between January 1^st and December 15^th (inclusive): Return and balance owing due date is June 15^th of the following year.
• Death between December 16^th and December 31^st (inclusive): Return and balance owing due date is six months after the date of death.

Speak with one of our professional accountants if you carry a tax shelter investment.

• T2 Corporation Income Tax Return

 

• Filing Deadline: A corporation must file its T2 return within six months after the end of its fiscal year.
• Balance Owing Due Date: The standard balance due date is two months after the end of the corporation's fiscal year with certain exceptions.
• A corporation may qualify for a three-month balance due date if all the following conditions are met:

1. It is a Canadian-Controlled Private Corporation (CCPC) throughout the tax year.
2. It claimed the Small Business Deduction (SBD) for either the current or previous tax year.
3. One of the following applies:

• The corporation is not associated with another corporation, and its taxable income for the previous tax year does not exceed its business limit.
• The corporation is associated with other corporations, and the combined taxable incomes of all associated corporations do not exceed their combined business limits.

Speak with one of our professional accountants to confirm if the three-month balance due date applies to you.

• T5013 Partnership Information Return

 

• If all partners are individuals, the return is due for filing by March 31^st following the calendar year in which the partnership's fiscal period ended.
• If all partners are corporations, the return is due for filing within five months after the end of the partnership's fiscal period.

• T3 Trust Income Tax and Information Return

 

The T3 return filing and any balance owing are due:

• 90 days after the trust's tax year-end, or
• 90 days after the final distribution of assets if the trust ceased to exist.

• T4 Information Returns- T4, T4A, T4A-NR, T4A-RCA, and T4PS

 

The filing deadline is the last day of February following the calendar year to which they relate.

• T5 Information Return

The filing deadline is the last day of February following the calendar year to which it relates.

• T5018 Statement of Contract Payments

 

The filing deadline is six months after the end of the reporting period (calendar year or fiscal period) selected by the payer.

• GST/HST Returns

 

• Monthly or Quarterly Filers: Return and tax payment are due one month after the end of each reporting period.
• Annual Filers: For most annual filers, the GST/HST return and any balance owing are due three months after the fiscal year-end. However, for sole proprietors, the GST/HST return and any amount owing are generally due at the same time as the T1 personal income tax return.

Note: A corporation’s GST/HST year end may not be the same as their corporate tax year end. Also, different filing and payment deadlines apply to certain listed financial institutions.

• Payroll Remittances

 

• Regular remitters: Unless you are a threshold 1 or 2 remitter, the due date is the 15^th day of the following month.
• Accelerated remitters – Threshold 1: You are a Threshold 1 accelerated remitter if you meet both of the following conditions:

1. Your average monthly withholding amount (AMWA) in the calendar year before the previous calendar year was at least $25,000 but not more than $99,999.99.
2. The CRA has not assigned you a different remitter type.
   

 

• Quarterly remitters:

1. Payroll remittances are due by the 15th of the month following the end of each quarter.
2. New employers are eligible to be a quarterly remitter if they meet both of the following conditions:

• The monthly withholding amount (MWA) is less than $1,000, and
• a perfect compliance record is maintained on all payroll and GST/HST accounts.

  iii.  Existing employers are eligible to remit quarterly if they meet all the following conditions:

• They have a payroll account that has been open for at least 12 months,
• The average monthly withholding amount (AMWA) in the calendar year before the previous calendar year was less than $3,000, and
• A perfect compliance record is maintained on all payroll and GST/HST accounts over the previous 12-month period.

If you have any questions or would like assistance with determining your tax filing or payment obligations, please contact our office at (780) 448-0399. We will be happy to assist you.