Written by Tosif Hanif, CPA, ACCA, ACFE, MSc — Director, Accounting and Finance, Wall Tax Pro, Mississauga.
Missing a filing date costs more than the paperwork. Late-filing penalties are charged as a percentage of the balance owing and interest compounds daily, so the calendar matters as much as the return itself. Here are the Canadian personal tax dates to plan around.
The dates that apply to most individuals
For a typical salaried or retired taxpayer there are three dates worth noting.
- RRSP contribution deadline for the prior tax year — the first business day of March
- Personal return filing deadline — April 30
- Payment deadline for any balance owing — April 30, regardless of your filing deadline
If you are self-employed
Self-employed individuals and their spouses have until June 15 to file, but this is the single most misunderstood rule in Canadian personal tax: the extra six weeks apply to filing only. Any tax owing is still due April 30, and interest starts accruing the next day.
If you carry business income, the practical approach is to have the numbers finalized in April even if the return is transmitted later.
Instalment payers
If your net tax owing exceeded the CRA threshold in the current and either of the two prior years, you are likely required to pay quarterly instalments on March 15, June 15, September 15 and December 15. Missing instalments triggers interest, and in larger cases an additional penalty.
What happens if you file late
The late-filing penalty is a percentage of the balance owing plus an additional amount for each full month the return is outstanding, and it increases sharply for repeat late filers. If you cannot pay, file anyway — the filing penalty and the interest on the balance are separate charges, and filing on time removes the larger one.
If you have missed several years, bring everything to a professional at once. A coordinated catch-up is usually resolved far more cheaply than year-by-year CRA correspondence.
Plan the year, not the deadline
Wall Tax Pro works with clients in Mississauga and across the GTA year-round, so that April is a filing month rather than a scramble. Call 647-297-4793 or book a consultation to map out your dates.
Need help with this in Mississauga?
Wall Tax Pro provides professional tax, accounting, bookkeeping and advisory support for clients in Mississauga, across Canada, and for US filers. Call 647-297-4793 or send us a message.
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