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, July 25th, 2017 at 8:50am
Tax Tip Tuesday: If your business has a fiscal year end of December 31st, or if you are a sole proprietor now is a great time to have your books completed and reviewed by your accountant. Your accountant or tax professional can review the first half of your year and may be able to provide tax planning ideas and strategies based on your first six months of business activities.
Aries Accounting
Aries AccountingTuesday, July 4th, 2017 at 4:52pm
Tax Tip Tuesday: If you use tax software such as Quickbooks or Sage for your payroll, make sure you install any updates that have an impact on your payroll tax tables. There is usually an update for July 1st.
Aries Accounting
Aries AccountingFriday, June 30th, 2017 at 8:03am
Happy 150th Birthday Canada! Wishing all of our clients, friends and family a safe and great long weekend!

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