Frequently Asked Questions
Tax Deadlines
When personal and corporate returns are due, and when interest and penalties start.
Personal tax
- : deadline for filing and paying your personal income tax return.
- : 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 by the filing deadline. Penalties are currently assessed as follows:
| First time | Repeat offender | |
|---|---|---|
| Late filing | 5% | 10% |
| Plus each month | 1% | 2% |
| Number of months | 12 | 20 |
| Potential penalty | 17% | 50% |
CRA links for more information
More answers
Deadlines, payments & slips
Tax Instalments
Whether you need to pay personal or business tax instalments, and when.
Read the answer →Payments to the CRA
Ways to pay a balance owing to the Canada Revenue Agency electronically.
Read the answer →GST Questions
When to register, choosing a reporting period, showing your GST number, and closing an account.
Read the answer →Filing T4s
Who must file T4 slips, the filing deadline, and where to get help.
Read the answer →Have a question that isn’t answered here?Let's talk.
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