T1 Personal Income Tax Return
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.
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Who this applies to
- All Canadian residents required to file (taxable income, capital gains, sale of principal residence, etc.)
- Self-employed individuals with business or professional income (Schedule T2125)
- Business owners paying themselves a salary from a corporation (T4 income)
- Non-residents with Canadian-source income required to file a T1
What to file
T1 General Return plus applicable schedules: Schedule 1 (federal tax), provincial/territorial tax schedules, Schedule 3 (capital gains), T2125 (self-employment income), T776 (rental income), and RRSP/TFSA contribution schedules as applicable.
How to file
NETFILE via certified tax software (most individuals). Paper filing for those who do not meet NETFILE eligibility. EFILE by a professional tax preparer. Most provincial returns are co-filed with the T1 except Quebec, which requires a separate provincial return.
Payment due
Balance of tax: 30 April. Self-employed filers who pay their balance after 30 April (even if filing by 15 June) are charged daily compound interest from 1 May on the unpaid balance. RRSP contributions can reduce the amount owing up to the contribution deadline.
Penalties for missing this deadline
Late filing penalty: 5% of the balance owing plus 1% per month for up to 12 months. Repeat late filing (within 3 years of a late filing notice): 10% plus 2% per month for up to 20 months. Daily compound interest on balance from 1 May at CRA's prescribed rate.
Filing checklist
- Gather all T4, T5, T3, T4A slips received from employers and financial institutions
- Complete T2125 if you have self-employment or business income
- Calculate RRSP contribution room and deduction (Notice of Assessment from prior year)
- Report all capital gains and losses on Schedule 3
- Determine provincial tax obligations (separate Quebec return if applicable)
- NETFILE via certified software or file on paper by 30 April
Common mistakes to avoid
- Self-employed individuals missing the 30 April payment deadline even though they have until 15 June to file
- Forgetting to report income from foreign sources (Canada taxes worldwide income of residents)
- Missing the RRSP deadline (60 days after 31 December, typically 1 March) for contributions to reduce the prior year's tax
- Not reporting the sale of a principal residence (required since 2016 even if the full exemption applies)
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