Tax Deadlines 2025 - When Are Corporate and Personal Taxes Due in Canada?

As we enter 2025, it's crucial for Canadians to be aware of key tax deadlines to ensure compliance and avoid penalties. Here's a concise guide to the important dates for personal, corporate, and GST/HST taxes in Canada this year.

Personal Tax Deadlines:

• General Filers: If you don't have self-employment income, your 2024 tax return and any taxes owed are due by April 30, 2025.

• Self-Employed Individuals: If you or your spouse earned business income in 2024, your tax return is due by June 16, 2025 (extended because June 15 falls on a Sunday). However, any taxes owing are still due by April 30, 2025.

Tax Installment Deadlines:

If you're required to make installment payments, the due dates for 2025 are:

• March 15, 2025

• June 15, 2025

• September 15, 2025

• December 15, 2025

Missing these deadlines can result in interest charges, so set reminders accordingly.

RRSP Contribution Deadline:

To have your contribution count toward reducing your 2024 taxes, ensure you contribute to your RRSP by March 3, 2025.

Corporate Tax Deadlines:

• Tax Returns: Corporations must file their tax returns within six months after their fiscal year-end. For instance:

  • A fiscal year-end of December 31, 2024, means the return is due by June 30, 2025.

  • A fiscal year-end of March 31, 2025, sets the deadline at September 30, 2025.

• Taxes Owing: Generally, corporate taxes are due two months after the fiscal year-end. However, Canadian Controlled Private Corporations eligible for the small business deduction have until three months after the fiscal year-end to pay. For Quebec corporations, corporate taxes are due within two months.

T4A and T5018 Slips Deadline:

Businesses that pay significant amounts to individuals or subcontractors must file the relevant slips with the CRA and provide them to recipients by February 28, 2025.

GST/HST Deadlines:

• Monthly Filers: Returns and payments are due one month after the reporting period ends. For example, the January 2025 period is due by February 28, 2025.

• Quarterly Filers: Returns and payments are due one month after the quarter ends. For the January–March 2025 period, the deadline is April 30, 2025.

• Annual Filers:

  • Individuals with December 31 Year-Ends:

    • GST/HST owing is due by April 30, 2025.

    • The return is due by June 16, 2025 (extended due to June 15 falling on a Sunday).

  • Other Annual Filers: Returns and payments are due three months after the reporting period ends. For a July 1, 2024 – June 30, 2025 period, the deadline is September 30, 2025.

    
    

Staying informed of these deadlines is essential for maintaining compliance and avoiding unnecessary penalties.

About

Nex CPA is a boutique Canadian digital accounting firm that provides online accounting solutions by combining technology and forward-thinking businesses. Tailored for the modern entrepreneur, we provide an easy, automated and client-focused service so you can focus on working 'on' the business and not 'in' the business.

For more information, please contact us at info@nex.cpa.