Every CRA date worth knowing — and what it costs to miss it. Behind on one already? That's fixable: talk to us.
The big one. Your return must be filed and any balance owing paid by April 30. Miss it while owing money and the CRA adds a late-filing penalty of 5% plus 1% per month, with daily interest on top.
If you (or your spouse) run a business, you get until June 15 to file — but here's the trap: any tax owing was still due April 30, and interest runs from that date. Filing later doesn't mean paying later.
Contributions made in the first 60 days of the year still count against last year's income — usually landing on March 1 or 2. The single easiest way to shrink April's tax bill, but only if you act before the cutoff.
Corporations file six months after their fiscal year-end — but the balance owing is generally due within two to three months of year-end. That gap surprises a lot of owners; we track both dates for our corporate clients.
Owed more than $3,000 in tax last year? The CRA expects you to prepay this year's bill in quarterly instalments, and charges interest on ones you skip — even if you settle up in April.
GST filing frequency depends on your revenue (annual, quarterly or monthly). Payroll source deductions are typically due by the 15th of the following month — and late payroll remittances carry some of the CRA's steepest penalties. Both are handled automatically for our bookkeeping and payroll clients.
Employers must file T4s (and issue copies to employees) by the last day of February. The same date applies to T5 investment slips, and construction businesses' T5018 subcontractor slips follow within six months of year-end.
Dates falling on a weekend or holiday shift to the next business day. This is general information, not advice about your specific situation — for that, ask us directly (it's FREE).
Late filings are our bread and butter — no lectures, just a fix. FREE consultation, same-day response.
