Tax Deadlines and Key Dates Every Canadian Business Owner Should Know

For small business owners, meeting Canada Revenue Agency (CRA) deadlines is critical. Missing a due date can lead to penalties, interest charges, and unnecessary stress. Whether you operate as a sole proprietor, partnership, or corporation, staying on top of the key tax dates will help you stay compliant and avoid last-minute scrambles.

Below is an overview of the most important federal deadlines that every Canadian entrepreneur should mark on their calendar. (Check your province for any additional provincial dates.)

1. Personal Income Tax Deadlines

Even if you own a business, you’ll still need to file a T1 Personal Income Tax Return each year.

• April 30 – Standard deadline for most individuals to file and pay any balance owing for the previous tax year.

• June 15 – Extended filing deadline if you (or your spouse/common-law partner) are self-employed. Important: any balance owing is still due by April 30, so interest starts after that date if you haven’t paid.

Tip:

Set aside funds for taxes throughout the year, so you’re not caught short when April 30 arrives.

2. GST/HST Filing and Payment Deadlines

If your business earns more than $30,000 in taxable revenue in a 12-month period, you must register for a GST/HST number. Filing frequency depends on your total sales:

• Annual filers: Return and payment due three months after your fiscal year-end. Example: if your year-end is December 31, file and pay by March 31.

• Quarterly filers: Return and payment due one month after the end of each quarter.

• Monthly filers: Return and payment due one month after each month-end.

Tip:

Many small businesses choose quarterly filing to balance cash flow and administrative work. Automating GST/HST collection in your accounting software can help you track what’s owed.

3. Corporate Income Tax Deadlines (T2 Return)

Incorporated businesses must file a T2 Corporate Income Tax Return every year, even if there is no tax payable.

• Filing deadline: Six months after your company’s fiscal year-end.

  • Example: Year-end December 31 → file by June 30.

• Balance owing: Due two months after year-end for most corporations.

  • Small Canadian-controlled private corporations (CCPCs) that claim the small business deduction typically have three months to pay.

Tip:

The filing date and the payment date are different—don’t confuse the two. Late payments trigger interest charges even if the return itself is filed on time.

4. Payroll Remittances

If you have employees, you must remit income tax, Canada Pension Plan (CPP) contributions, and Employment Insurance (EI) premiums.

• Regular remitters: Usually due on or before the 15th of the following month.

• Accelerated remitters: Larger employers may have to remit more frequently (up to four times per month).

Tip:

Set up a CRA My Business Account and enroll in pre-authorized debit to avoid missed deadlines.

5. Quarterly Tax Instalments for Individuals

Self-employed individuals or those who earn significant income outside of salary may have to pay quarterly instalments if the total tax owing is more than $3,000 ($1,800 in Quebec) in the current year and either of the previous two years.

• Due dates: March 15, June 15, September 15, and December 15.

Tip:

CRA sends instalment reminders, but you’re responsible for paying on time even if you don’t receive them.

6. Other Key CRA Dates

• RRSP Contribution Deadline: Typically 60 days after the end of the calendar year (around March 1 or 2). Contributions reduce your personal taxable income.

• T4 and T5 Slips for Employees or Investors: Must be issued and filed with CRA by the last day of February following the calendar year.

• T5018 (Statement of Contract Payments): For construction businesses, due six months after the end of the reporting period.

7. Provincial and Territorial Deadlines

Most provinces and territories follow the federal deadlines, but some have additional requirements. For example:

• Quebec has separate Revenu Québec filing requirements for income tax and payroll remittances.

• British Columbia and Manitoba have provincial sales tax (PST) returns with their own filing frequencies and due dates.

Check your province’s website for details relevant to your location.

8. Best Practices to Stay Ahead of Deadlines

Use a Digital Calendar or App

Create recurring reminders a few weeks before each due date. Many accounting platforms integrate with your calendar to automate alerts.

Work with a Chartered Professional Accountant (CPA)

A CPA can help you track deadlines, prepare accurate returns, and avoid penalties. They’ll also keep you informed of any changes in tax law.

Separate Business and Personal Finances

A dedicated business account simplifies tracking of income and expenses, making it easier to meet filing deadlines.

9. Penalties for Missing Deadlines

The CRA charges interest on overdue amounts and may levy late-filing penalties. For example, late personal returns typically incur a penalty of 5% of the balance owing plus 1% per month for up to 12 months. Penalties are even higher for repeated failures to file.

The Bottom Line

Canadian tax obligations can be complex, but staying on top of key dates protects your business from unnecessary costs and stress. Mark these deadlines on your calendar, automate reminders, and partner with a CPA to ensure you never miss a filing.

Need help staying compliant year-round? Contact our team of Canadian tax professionals today to set up a personalized tax calendar and keep your business on track.