TAX DUE DATES

Individual tax returns

April 30th

Self-employed individuals and spouses

June 15th

Passes between January 1 and October 31

April 30th, following year

Passes between November 1 and December 31

6 months after the date of passing

Filing is due 6 months after fiscal year end

Tax is to be paid within 3 months of fiscal year end

90 days from the end of the trust fiscal year

90 days after the wind up of an estate

If you wind up a graduated rate estate, the tax year will end on the date of the final distribution of the assets.

If you wind up an inter vivos trust or a testamentary trust, you have to file the final T3 return and pay any balance owing no later than 90 days after the trust's tax year-end. However, you may want to file the final return before the trust's tax year-end.

March 15

June 15

September 15

December 15

March 31

June 30

September 30

December 31

January 1 to March 31

Due April 30

April 1 to June 30

Due July 31

July 1 to September 30

Due October 31

October 1 to December 31

Due January 30

End of the 3rd month following your year end

The 15th of the following month

Monthly

Reported and paid by no later than the 15th day of the following month

Quarterly

15th of the month following the end of the quarter (due April, July, October, January)

T3 Slips

Within 90 days of the trust year end

T4/T4A/T5

No later than the last day of February of the following calendar year

If you owe tax and you file your return for after the due date, the CRA will charge you a late-filing penalty. The penalty is 5% of your balance owing, plus 1% of your balance owing for each full month your return is late, to a maximum of 12 months.

If the CRA charged a late-filing penalty on your return for any of the previous threes years as well, your late-filing penalty for the current return may be 10% of your balance owing, plus 2% of your balance owing for each full month your return is late, to a maximum of 20 months.

You will be assessed penalties when:

• you deduct amounts over $500, but do not send them to CRA
• you deduct amounts over $500, but send them to CRA late
• you deduct amounts under $500, and knowingly or under circumstances of gross negligence do not send them to CRA or send them late

The penalty rates are:

• 3% if the amount is one to three days late
• 5% if it is four or five days late
• 7% if it is six or seven days late
• 10% if it is more than seven days late, or if no amount is remitted
• 20% if this is the second or subsequent time you are assessed this penalty in a calendar year, if the failures were made knowingly or under circumstances of gross negligence

* When the due date falls on a Saturday, a Sunday, or a public holiday recognized by the CRA, they consider your payment to be on time if they receive it on the next business day.

**You have to give the recipient his or her slip and file your information return with the CRA on or before the due date. If the due date falls on a Saturday, a Sunday, or a public holiday recognized by the CRA, your information return (slip) is due the next business day.

CRA will consider your return to be filed on time if they receive it or if it is postmarked on or before the due date