Following are the important dates that a taxpayer should be aware of in order to avoid missing deadlines.
There are often penalties as well as interest charged should a payment be late or a filing date has been missed.
|T4's & T5's ||Feb 28th||T4's (Director's fees, bonuses,wages paid etc.) and T5's must be filed for the previous calendar year.|
|Personal Tax Return ||April 30th || Personal Income Tax Return|
|Personal Tax Return with Self- Employment Income ||June 15|
|Payment of Tax Owing||April 30|
|RRSP Contribution ||Feb 29|
December 31 of the year you turn 71 years of age as it is the last day you can make a contribution to your RRSP.
|Corporate Tax Return ||6 Month from Fiscal Year end.||File your return no later than six months after the end of each tax year. |
|GST/HST Return |
(1) If your reporting period is monthly or quarterly, you have to file your GST/HST return and remit any amount owing no later than one month after the end of your reporting period.
(2)If you have an annual, reporting period, you usually have to file your GST/HST return and remit any amount owing no later than three monthsafter the end of the fiscal year.
|US Tax Return ||April 15||IRS allows for a 6-month extension upon filing form 4868. This will extend your deadline to Oct 15th. This extension does not give you additional time to pay your liability.|
|Trust Return||90 Days from fiscal year end.|
|Source Deductions - Payroll||Every 15th of the month||Wages or fees paid anytime throughout the year, the deductions must be remitted by 15th of the following month|