🇨🇦Canada tax deadlines

Canada Tax & Filing Deadlines

Every Canada statutory deadline a founder needs to know. Penalties, checklists and source links to Canada Revenue Agency (CRA) and Corporations Canada (ISED).

T2 Corporate Income Tax Return

6 months after fiscal year-end to file. Balance of tax: 2 months after fiscal year-end (general) or 3 months after fiscal year-end (eligible CCPCs).

Annual corporate income tax return filed with the Canada Revenue Agency by all Canadian-resident corporations. The T2 is due within 6 months of the fiscal year-end. The balance of tax owing is due 2 months after year-end for most corporations, or 3 months for eligible CCPCs claiming the Small Business Deduction.

T1 Personal Income Tax Return

30 April for employees and others. 15 June for self-employed (and spouse/partner) to file, but 30 April for balance payment.

The T1 is the annual personal income tax return for Canadian individuals. Due 30 April for most taxpayers. Self-employed individuals (and their spouses or common-law partners) have until 15 June to file, but any balance of tax owing is still due 30 April. Late balance payments attract daily compound interest from 1 May.

GST/HST Return

Monthly filers: last day of the month following the reporting period. Quarterly filers: last day of the month following the fiscal quarter. Annual filers: 3 months after fiscal year-end.

Registered businesses must file GST/HST returns and remit net tax for each reporting period. The filing frequency depends on annual taxable revenues: monthly (over CAD 6 million), quarterly (CAD 1.5 million to CAD 6 million), or annual (under CAD 1.5 million). Annual filers with net tax owing above CAD 3,000 must also make quarterly instalment payments.

T4 Slips and T4 Summary

Last day of February following the calendar year (28 February for non-leap years).

T4 slips (Statement of Remuneration Paid) must be distributed to employees and filed with CRA by the last day of February following the calendar year. Employers who file 5 or more T4 slips must file electronically. The T4 Summary accompanies the individual slips and reconciles total payroll to CRA's records.

Payroll Source Deduction Remittances

Regular remitters: 15th of the month following payroll. Accelerated Tier 1 (AMWA CAD 25,000-99,999): 25th of current month and 10th of following month. Accelerated Tier 2 (AMWA CAD 100,000+): within 3 business days of payroll.

Employers must remit CPP contributions (employer and employee), EI premiums (employer and employee), and employee income tax deductions to CRA on a schedule based on their average monthly withholding amount (AMWA). New employers are regular remitters (remit by the 15th of the following month). Large payrolls remit twice monthly or weekly.

Corporate Tax Instalment Payments

Monthly instalments: last day of each month of the fiscal year. Quarterly instalments (eligible CCPCs with prior-year taxable income under CAD 500,000): last day of the 3rd, 6th, 9th, and 12th months of the fiscal year.

Corporations must make monthly or quarterly instalment payments of corporate income tax during the year if the prior year or current year estimated federal tax owing exceeds CAD 3,000. Quarterly instalments are available for eligible CCPCs. Instalments prevent a large lump-sum payment at year-end and avoid instalment interest.

SR&ED Investment Tax Credit Claim

18 months after the end of the fiscal year in which the SR&ED expenditures were incurred. This is later than the T2 filing deadline (6 months) and allows an amended T2 if the claim was not included in the original return.

The SR&ED investment tax credit claim is filed using Form T661, attached to the T2 corporate return. The filing deadline is 18 months after the end of the corporation's fiscal year in which the SR&ED work was performed. This is an absolute deadline: filing after 18 months forfeits the ITC entitlement in full. CRA's review process can take 12-24 months.

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