The following deadline dates apply to Canadian returns which are required to be filed during 2016. To avoid penalites all returns must be postmarked by the due date specified:
2015 Individual Income Tax Return (T1) - April 30, 2016.
If an individual has self employment income, the filing deadlines are:
a) Payment of expected tax due -April 30, 2016
b) Filing of tax return - June 15, 2016
Note: No extensions of filing deadlines are available in Canada
Corporation Income Tax Return (T2)
a) Payment of expected tax due - Three months after fiscal year end date;
b) Filing of tax return - Six months after fiscal year end date.
Payroll Withholding Taxes
Due dates for payment of withholding taxes are based on your Average Monthly Wittholding Amount (AMWA) of two years ago.
a) Regular remitter - AWMA less than $15,000 - 15 th day of month following deductions;
b) Accelerated remitter - AMWA over $15,000 to $49,999
i) Deduction made before 16th of month - 25 th of same month;
ii) Deduction made after 15 th of month - 10th of following month.
c) Quarterly remitter - AMWA under $3,000 and perfect compliance history - Payment due 15 th of month following each calendar quarter end. (April 15, July 15, October 15 and January 15).
Slips and Summary Information Returns:
a) T4/T4A Information Returns- February 29, 2016
b) T5/T5 Summary - February 29, 2016
c) T5018 Contractor Reporting (Construction industry) - 6 months after end of fiscal year;
GST/HST Remittances and Returns:
GST/HST remittances are based on the reporting period. Generally, all businesses with annual gross revenues under $1.5 million have an annual reporting period. (Quarterly if gross revenue is over $1.5 million, and monthly if annual gross revenue is over $6 million.)
a) Monthly and quarterly reporters - One month after the end of each reporting period;
b) Annual reporters - Three months after the end of the fiscal year.
c) Indiviual annual reporters -
i) Payment must be made by April 30, 2015;
ii) Return must be filed by June 15, 2015
Quarterly Instalments: No instalments are required if expected net tax owing for 2014 will be less than $3,000.
a) Prior year option: Remit 75% of the amount owing on the 2012 return on September 15, and 25% on December 15, 2013;
b) Current year option - Estimate current year taxes owing and remit as above.
Registered Retirement Savings Plan:
An RRSP contribution must be made by February 28, 2016 to be considered deductible for 2015. (Contributions cannot be made after the year a person reaches age 71).
Deadline for filing returns is:
a) Death January 1 to October 31 - April 30 in year following death;
b) Death November 1 to December 31 - Six months after date of death.
T3 trust returns must be filed within 90 days of the trust fiscal year end.