Meeting tax deadlines is essential to avoid penalties, interest charges, and last-minute stress. Whether you’re filing as an individual or operating a business, staying organized and aware of important dates throughout the year helps you stay compliant and in control.
At Infinity & Beyond Business Inc., we guide our clients through the tax calendar to ensure nothing is missed. Here’s a clear breakdown of the most critical annual deadlines to keep in mind.
Key Personal Tax Deadlines
- April 30 — Personal Income Tax Filing Deadline
Most individuals must file their income tax return and pay any balance owing for the previous tax year by this date. - June 15 — Deadline for Self-Employed Individuals
If you or your spouse/common-law partner is self-employed, you have until June 15 to file your return. Note: any taxes owed are still due by April 30. - April 30 — RRSP Contribution Deadline
This is the last day to contribute to your RRSP for it to count toward deductions for the previous tax year.
Key Business Tax Deadlines
- Varies — GST/HST Filing and Payment
Your GST/HST filing frequency (monthly, quarterly, or annually) depends on your total revenue. Deadlines typically fall one month after the end of your reporting period. - Six Months After Fiscal Year-End — Corporate Tax Filing
Corporations must file their T2 corporate income tax return within six months of the end of their fiscal year. - Two Months After Fiscal Year-End — Corporate Tax Payment
Most corporations must pay taxes owing within two months of their fiscal year-end. Some eligible small businesses have up to three months. - Payroll Remittance Deadlines
If you have employees, source deductions (such as income tax, CPP, and EI) must be remitted according to your assigned schedule—monthly or more frequently.
Why Meeting Deadlines Matters
- Avoid Penalties and Interest: Late filings and payments can lead to costly penalties and accumulating interest.
- Stay in Good Standing: Timely submissions help keep your personal and business accounts in good standing with the CRA.
- Support Better Planning: Knowing your deadlines in advance allows you to prepare ahead and avoid unwanted surprises.
How We Help You Stay On Track
At Infinity & Beyond Business Inc., we offer:
- Customized tax calendars based on your specific requirements
- Automatic reminders ahead of upcoming deadlines
- Strategic advice to manage your payments and potential refunds
- Hands-on assistance with preparation, filing, and remittances
Keeping track of tax deadlines doesn’t have to be overwhelming. With the right systems in place and professional guidance, you can meet every important date with confidence.
If you’d like help managing your deadlines, filing your returns, or preparing your records, Infinity & Beyond Business Inc. is here to support you every step of the way.
Want a personalized tax calendar?
Contact us today and ensure you never miss a critical date again.
