Connolly and McNamara

Important Due Dates for Business and Personal Taxes

December 2014

Since there can be different variables that come up in terms of these dates, it is a good idea to consult with a qualified tax professional to better understand your own situation and ensure you are filing your paperwork on time and in the correct format. There have been issues where people did not consult with trusted tax professionals and then later regretted this decision when they realized they had made even a minor error that caused them difficulties with tax authorities.

Important Due Dates for Individual

Filing due dates for your tax return: generally, your return has to be filed on or before April 30.

Self-employed persons: if you or your spouse or common-law partner carried on a business in 2010, your return has to be filed on or before June 15. However, if you have a balance owing, you still have to pay it on or before April 30.

Instalment payments due dates: your instalment payments are due March 15, June 15, September 15, and December 15. Balance owing due dates: your balance owing is due no later than April 30.

Important dates for Businesses

There are due dates and other important dates you should know about events that could happen during the course of your commercial activities such as: determining when your various returns or payments are due, retaining your books and records, establishing your fiscal year end, and calculating instalment payments if applicable.

When to file your corporation income tax return

File your return no later than six months after the end of each tax year; generally, most corporations that owe taxes are due two months after the end of the tax year.

Instalment due dates

Instalment payments are due on the last day of every complete month of your tax year, or of every complete quarter if you are an eligible small CCPC. The first payment is due one month or one quarter less a day from the starting day of your tax year. The rest of the payments are due on the same day of each month or each quarter that follows. Since the system can be complicated to navigate, a competent tax professional can look at your situation whether for personal or business reasons and guide you in the right direction in terms of meeting your deadlines and filing the correct paperwork.

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