 Print
When is your tax return due?
11-28-2017
Most Canadians have to fill out their return and send it to the Canada Revenue Agency no later than April 30, 2018.
Self-employed individuals
If you or your spouse or common-law partner carried on a business in 2017, you have to send in your tax return no later than June 15, 2018. However, if you owe tax for 2017, you must still pay it no later than April 30, 2018.
If you or your spouse or common-law partner carried on a business in 2017 whose expenditures are mainly for a tax shelter, you have to send in your tax return no later than April 30.
Deceased persons
If you need to do taxes for someone who died in 2016, the due date for their return will depend on the date of death and whether the person had carried on a business in 2016.
Tax Deadlines
December 31, 2017
December 31 of the year you turn 71 years of age is the last day you can contribute to your own RRSP.
February 28, 2018
RRSP Deadline
2018 RRSP deadline for contributing to your Registered Retirement Savings Plan (RRSP) for the 2017 tax filing year.
March 15, 2018
Quarterly instalment due if you pay taxes to CRA by installments.
April 30, 2018
Tax Deadline
2018 Tax Filing Deadline for generally most individuals for personal income tax filing for the 2017 tax year.
April 30, 2018
Payment to CRA of your balance owing for 2017 personal income tax is generally due April 30, 2018 for all personal income tax filers including self-employed.
June 15, 2018
CRA tax deadline for self-employed persons to file their personal income tax return. Any balance owing must be paid by April 30, 2018.
June 15, 2018
Quarterly instalment due if you pay taxes to CRA by installments.
September 15, 2018
Quarterly instalment due if you pay taxes to CRA by installments.
December 15, 2017
Quarterly instalment due if you pay taxes to CRA by installments.
In Canada the income from the following sources are brought into the computation of income:
• office
• employment
• business
• property
• capital gains and
• 0ther income
Repeated failure to report income penalty
If you failed to report an amount on your return for 2016 and you also failed to report an amount on your return for 2013, 2014, or 2015, you may have to pay a federal and provincial or territorial repeated failure to report income penalty. If you did not report an amount of income of $500 or more for a tax year, it will be considered a failure to report income.
The federal and provincial or territorial penalties are each equal to the lesser of:
• 10% of the amount you failed to report on your return for 2016; and
• 50% of the difference between the understated tax (and/or overstated credits) related to the amount you failed to report and the amount of tax withheld related to the amount you failed to report.
Footnotes: Footnotes: This column is presented as a general source of information only and is not intended as a solicitation for business. Mohammed Yasin, CPA,CGA, is the principal of M. Yasin & Co. Inc., Certified General Accountants and has offices in Vancouver & Surrey,B.C.
|