Unpacking Tax Day in Canada
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There’s a key piece of info every taxpayer needs tucked in their back pocket: when are taxes due in Canada.
Missing these dates can lead the Canada Revenue Agency (CRA) to enforce some unwelcome fines and interest charges.
Trust me, it’s something you’ll want to avoid.
Keep reading, and I’ll break down everything you need to know to keep your tax year stress-free and on track.
When Are Taxes Due in Canada?
The tax deadline and reporting requirements in Canada aren’t a one size fits all kind of thing. These actually depend on your own employment situation, as follows:
Tax filing deadline for personal income tax returns
| Personal Income | April 30 |
| Self-employed | June 15 |
In case any of these dates happen to be a weekend, then the deadline is extended to the next business day. In fact, 2025’s deadline for those self-employed will fall on June 16 since June 15, 2025, is a Saturday.
Keep in mind that if you have a self-employed income, you’re still expected to pay any tax owed from the previous years by April 30.
Furthermore, the CRA makes an exception for deceased individuals and their legal representative. Should the date of death fall between January 1 and October 31, the tax return is still due on April 30 or June 15. Otherwise, it will be due six months after the death date.
If you want to file your tax returns early next year, you can do so using the electronic NETFILE service by midnight on February 19. Should you prefer mail, make sure that any responses are postmarked, or even preferably received, by the given date.
Tax filing deadline for instalment payments
You have to option to pay your taxes in instalments. This way, you’re able to avoid having to shell out the total amount in one go, which, truth be told, can be a massive hit on your bank account.
In this case, you will pay on four different dates along the year: March 15th, June 15th, September 15th, and December 15th.
Tax filing deadline for sole proprietors and partnerships
| If it follows a calendar fiscal year | June 17 |
| If it follows a non-calendar fiscal year | Six months after fiscal year-end |
Tax filing deadline for trusts
| 90 days after the trust’s tax year-end |
Other important tax deadlines to remember
Apart from the above-mentioned tax filing deadlines, the following are a few more important dates to keep in mind:
| Event | Deadline |
| The earliest you can file your tax return | February 18 |
| RRSP contribution | February 28 |
| Issue T4 slips to employees and the CRA | February 28 |
| File family trust tax return (calendar year-end) | March 31, 2025 |
| File the Statement of Amounts Paid or Credited to Non-residents of Canada (NR4) | March 31 |
Stay Savvy: Avoid Penalties for Late Tax Filing
If you miss the tax deadline and owe money to the CRA, then you’ll incur fines and penalties. Have a look below to see the different types:
Late Filing of Personal Taxes
In case of personal taxes, fees are equal to 5% daily interest on the taxes due until you pay the total balance, and 1% on each month that’s late, up to one year.
So, before you ease up, remember that all this adds up to 17% in owed taxes!
Plus, penalty fees for late filing on the previous three tax years can go up to 10% of what you owe and 2% every month, this time up to 20 months.
On the bright side, the CRA keeps things fair and balanced by not charging you any penalties if you file your taxes late but don’t owe the government money, say because of a refund.
Late Filing of Self-Employment Taxes
Since self-employed individuals are required to file additional returns—like those for payroll and GST/HST remittances and withholdings—the CRA places a 10% penalty for the first payment failure and up to 20% on the rest.
If you file your taxes late or don’t pay your amount due for some reason, then penalties will initiate at 3%, which will also go up to 20%.
Use Our Helpful Tips for the Tax Season
For a smooth upcoming season, we highly recommend the following:
- Re-evaluate the previous year’s tax return. This will allow you to confirm any amount or credit carried forward.
- Get up to speed with all your necessary documents. Whether it’s the employer tax slips (T4s), bank slips for interest earned in non-registered accounts (T5s), RRSP contributions amounts, or the previous year’s Notice of Assessment, make sure to have it ready well before the tax filing deadline. Consider opting for an online tax preparation software like TurboTax or Wealthsimple to help out.
- Take advantage of the CRA’s resources. The organization offers several tools you can easily find online.
- Stay updated. The CRA can modify dates and rates at any time, and although, in such cases, you’re given a grace period, it’s up to you to keep up. Therefore, be sure to subscribe and regularly visit the CRA’s site to double-check when taxes are due in Canada the next time out.
Jordann Kaye
Frequently Asked Questions
Unfortunately, you can’t deduct the actual student loans from your taxes, either federal or provincial ones. There is however, a silver lining — you can claim any interest you’ve paid on them over the last five years as a non-refundable tax credit. At least there’s something to help ease the financial load a bit!
Skipping tax filing is never a great idea and the Canada Revenue Agency (CRA) doesn’t take this lightly. If you don’t file your taxes, you’ll be hit with an initial penalty of 5% of the unpaid tax, plus 1% extra for each month you’re late, and this can accumulate up to a whole year. In case you were wondering, yes, the interest piles up daily on whatever you owe. If you continue to stick around in this no-file zone too long, you might even face legal actions or asset seizure. So, in short —never skip filing your taxes, ever!
For those who are employees, the tax deadline is April 30. If you or your significant other runs a business, you get a bit of a breather until June 15 to file. Just remember, any taxes owed, still need to be paid by April 30 to avoid those pesky interest charges.
There’s some good news for those steering the ship of a business. Corporate income tax returns are due six months after the fiscal year ends. So you have some time to get everything in order without rushing.
If tax season arrives, and you’re strapped for cash, don’t panic. Make sure to still file your return on time to avoid a late filing penalty. Then, take a moment to call the CRA to talk about setting up a payment arrangement or exploring options like the taxpayer relief provision. If things feel overwhelming, it might be a good idea to consult a licensed insolvency trustee for professional advice.
