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.
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