Important Dates

Important Dates for Businesses

 

 

T4/T4A & T5 Slips & Summary – Due on or before the last day of February.

 

T5018 – Mandatory for Construction Industry – Due on or before the last day of February.

 

T2 Corporate Income Tax – to be filed no later than six months after the end of each tax/fiscal year.  If you owe taxes, interest charges apply after 3 months.

 

Payroll

Monthly Remittance – due by the 15th of the next month for which employees are paid.

For more remittance thresholds see

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/pymnts/hwrmt-eng.html

 

 

 

Important Dates for Individuals

 

2016 Personal Tax Return – Due on or before April 30, 2017.

 Self Employed – Due on June 15, 2017. However, if you have a balance owing for 2016, you have to pay it on or before April 30, 2017.

Installments

You have to pay your instalments for 2017 on:

  • March 15
  • June 15
  • September 15
  • December 15

 

RRSP Contributions

 RRSP for the 2016 tax yearMarch 1, 2017 is the deadline for contributing.

 December 31 of the year you turn 71 years of age is the last day you can contribute to your own RRSP.

  

               GST filing and payment deadlines

GST/HST filing period Filing deadline Payment deadline Example

Monthly

 

One month after the end of the reporting period One month after the end of the reporting period

Reporting period:

July 31

Filing deadline:

August 31

Payment deadline:

August 31

Quarterly

 

One month after the end of the reporting period One month after the end of the reporting period Reporting period:

March 31

Filing deadline:

April 30

Payment deadline:

April 30

Annually

(except for individuals with a December 31 fiscal year-end

and business income for income tax purposes)

Three months

after fiscal year-end

Three months

after fiscal year-end

Reporting period:

August 31

Filing deadline:

November 30

Payment deadline:

November 30

Annually

(individuals with a December 31

fiscal year-end and business income for income tax purposes)

June 15 April 30 Reporting period:

December 31

Filing deadline:

June 15

Payment deadline:

April 30

 

 

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Aries Accounting
Aries AccountingTuesday, November 21st, 2017 at 9:08am
Tax Tip Tuesday: As per proposed changes from July 18th, 2017 there will be new regulations on Dividend Income earned by adult family members. CRA may subject this income to a new reasonableness test to determine the extent to which the family member contributed labour and/or capital to the business. This “Income Sprinkling” should be discussed with your accountant as the new rules come into effect January 1st, 2018.
Aries Accounting
Aries AccountingThursday, November 16th, 2017 at 8:55am
And the results are in! This year was so close. Thank you to everyone who donated blood and saved lives this year.
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Aries AccountingWednesday, November 15th, 2017 at 12:34pm
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