# T1 Personal Income Tax Return

Country: Canada
When: 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.

## 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.

## What happens if you miss it

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.

## Submission 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)

Source: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return.html