FAQ - Tax Deadlines

Personal Tax

April 30 - deadline for filing and paying your personal income tax return

June 15 - deadline for filing if you or your spouse are self-employed

Corporate Tax

Payment deadline - 3 months after your corporate year end date

Penalties start after this date

Filing deadline - 6 months after your corporate year end date

Interest starts after this date

Interest

The prescribed rate of interest is charged on any unpaid taxes

Interest is currently assessed at 5% per annum

Penalties

Penalties are assessed on any tax owing if the required returns are not filed after the filing deadline.

Penalties are currently assessed as follows:

First TimeRepeat Offender

Late Filing5%10%

Plus each month1%2%

Number of months1220

Potential penalty17%50%

CRA Links for More Information

ZENALLY

Chartered Professional Accountants LLP

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