Tax Filing Deadlines

Welcome to your comprehensive guide to Canadian tax deadlines. This resource provides an overview of crucial tax dates for individuals, businesses, and corporations.

Please note that tax requirements may vary based on your unique financial situation, so consider this a starting point. For personalized assistance and tailored deadlines, explore our Monthly and Annual Accounting Subscriptions. With expert guidance, you can navigate tax season with confidence and ease.

Tax Filing Deadlines with Countdown Timers

Payroll Remittances

15th of Each Month

HST Monthly Filing

Last day of the following month

HST Quarterly Filing

April 30th, July 31st, October 31st, January 31st

HST Annual Filing

March 31st

T4 & T5 Filing

February 28th

Trust Taxes

March 31st

Crypto Currency Capital Gains

April 30th

Personal Tax Return Filing

April 30th

Sole Proprietorship Taxes

June 15th

Crypto Currency Business Income

June 15th

Corporate Tax Filing Deadline Countdown

Select Calculation Type:

Select Fiscal Year End Date:

Corporate CRA Penalty & Interest Calculator

This calculator helps you estimate potential CRA penalties and interest, and suggests a tax payment schedule to stay compliant.

Total Anticipated Taxes Owing ($): Number of Months Late:

Optional: Estimate Taxes Owing

If you don't know your total taxes owing, you can estimate it here:

Revenue ($): Expenses ($):

Accounting Accuracy

Accuracy of Your Accounting (%): 100%

Monthly Tax Payments

I have paid the taxes on a monthly basis and all monthly payments are made.

CRA Payment Essentials

Personal Tax: If you owe more than $3,000 in personal taxes, you need to make instalments to avoid extra interest.

Corporate Tax: If your corporation owes over $3,000 in taxes before deductions (current and previous year), quarterly instalments are required to avoid interest.

Save on Interest

Make monthly payments to the CRA to avoid instalment interest. Filing on time also keeps you clear of penalties!

Late Filing Penalties

If you file late, the CRA charges a 5% penalty on unpaid taxes and an extra 1% for each month late, up to 12 months.

Example: For a $25,000 tax bill filed 12 months late, you’d pay $1,250 (5%) plus $3,000 (1% x 12 months), totaling $4,250 annually or $354 monthly.

Late Payment Penalties

If you pay late, CRA adds a 1% penalty on the balance and an extra 1% for each month late, up to 12 months.

Example: For a $25,000 tax bill paid 12 months late, you’d pay $250 (1%) plus $3,000 (1% x 12 months), totaling $3,250 annually or $271 monthly.

Inaccurate Reporting Penalties

If the CRA finds inaccuracies on your return, penalties can range from 50% to 200% of the understated amount.

Example: For a $10,000 error, penalties could be $5,000 to $20,000, based on CRA’s judgement.

Whose Responsibility is It?

The taxpayer is responsible for filing and paying taxes on time. While accountants can assist, the final responsibility lies with the individual or business owner.

Top 10 Best Practices

Make consistent monthly payments to avoid interest.
File on time to avoid penalties.
Know the impact of late filing — penalties grow quickly.
Keep detailed records to simplify tax filing and audits.
Stay updated on deductions and credits to reduce tax owed.
Consider a tax pro or software for complex situations.
Update personal information with the CRA regularly.
Plan taxes year-round for better decisions and savings.
Review your return to catch any errors or missed deductions.
Know your rights and obligations under the Taxpayer Bill of Rights.

Our Accounting Plans

Gain financial peace of mind with our Monthly and Annual Accounting Subscriptions. Designed for businesses of all sizes, our plans ensure accurate, timely tax filing, strategic financial planning, and expert support. Experience the ease of professional accounting and join today to have dedicated financial experts by your side.