YOUR BUSINESS ALLY
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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