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Important dates for personal tax

Important dates

  • April 30 – Individuals, without business income reported on their T1, must file and pay their taxes on April 30, of the following year. Filing and payment of any outstanding balances, for the period, on April 30 will avoid any interest and penalties.
    • Still haven’t filed your past returns and you are not sure what to do?
  • Deceased individuals – CRA has created rules to alleviate some of the filing burdens for deceased individuals. For more detailed information, visit Canada.ca.
  • March 15 – First quarter installments
  • June 15  – Second quarter installments
  • September 15 – Third quarter installments
  • December 15 – Fourth quarter installments

Note

Most employers will deduct personal income taxes directly from your employment pay cheque. The deductions are based on you providing your employer with an accurate Form TD1.  Installments may be required if the amounts of income taxes deducted from your pay cheques for the period in question, is less than your tax liability. If you do not make the correct amount of installments and do not pay the remaining balance by your due date, you may be subject to interest dating back to your first installment. If you want a quick estimate of your taxes, try one of our tax calculators.

Self-employed individuals

  • June 15 – CRA allows an extension to the regular filing date of April 30, if you have business income reported on your T1. However, payment of any outstanding balances must be paid on April 30 of the following period
    • Example:

You have business income on your 2019 personal tax return.
You will be required to pay the balance of your 2019 taxes on April 30, 2020(to avoid any interest)
and file your personal tax return on June 15, 2020(to avoid any penalties).

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