2024 Canadian Tax Deadlines & Important Dates
Stay ahead in 2024: Key Canadian tax deadlines and dates to keep your financial commitments on track
Personal Taxes
April 30, 2024: Personal Tax Filing Deadline
- Deadline for most individuals to file their 2023 income tax and benefit returns. Ensure accuracy to avoid penalties.
- Canada Revenue Agency – Filing Due Dates
April 30, 2024: Personal Tax Payment Due
- All 2023 personal income taxes must be paid by this date to avoid interest charges.
- Canada Revenue Agency – Pay by the Due Date
June 15, 2024: Self-Employed Filing Deadline
- Self-employed individuals and their spouses or common-law partners have until this date to file their taxes, but any owed amounts are still due by April 30.
- Canada Revenue Agency – Self-Employed Filing Due Dates
Self-Employment & Small Business
June 15, 2024: Self-Employed Tax Return Deadline
- File your 2023 tax returns by this date if you’re self-employed. Remember, balances owing are due by April 30 to avoid interest.
- Canada Revenue Agency – Self-Employed Individuals
Monthly/Quarterly: Estimated Tax Payments
- If required, make installment payments for your estimated taxes throughout the year to manage your cash flow better and avoid year-end surprises.
- Canada Revenue Agency – Paying Your Income Tax by Instalments
Corporations
Six Months Post Fiscal Year-End: Corporate Tax Filing
- Corporations are required to file their income tax return within six months after the end of their taxation year for proper compliance.
- Canada Revenue Agency – Corporations Filing Due Dates
Two Months Post Fiscal Year-End: Corporate Tax Payment
- The balance of corporate income tax is due two months after the fiscal year-end, with an extension to three months for eligible small businesses.
- Canada Revenue Agency – Balance Due Day
Trusts
March 31, 2024: Trust Income Tax Return Deadline
- Trusts must file their 2023 income tax and information returns by this date for accurate and timely reporting.
- Canada Revenue Agency – Trusts
RRSPs
March 1, 2024: RRSP Contribution Deadline
- Contribute to your RRSP by this date to deduct the amount from your 2023 income, potentially lowering your tax bill.
- Canada Revenue Agency – RRSPs
TFSAs
Annual: TFSA Contribution Room
- Maximize your savings by contributing to your TFSA up to the annual limit. For 2024, the contribution limit is $7,000.
- The TFSA contribution room accumulates over time if unused, and withdrawals made in the previous year can be re-contributed starting the next year.
- Canada Revenue Agency – TFSAs
Partnerships
March 31, 2024: Partnership Information Return Deadline
- Ensure timely filing of your Partnership Information Return by March 31, 2024, to meet CRA requirements. This is crucial for all partnerships that operate in Canada, are Canadian partnerships, or are Specified Investment Flow-Through (SIFT) partnerships, subject to certain exemptions. The return provides essential fiscal details about income allocation, losses, and other relevant financial data among partners. For partnerships with substantial operations—exceeding $2 million in combined revenue and expenses or possessing assets over $5 million—filing is imperative.
- Canada Revenue Agency – Partnerships
Charities and Non-Profit Organizations
Six Months Post Fiscal Year-End: Charities & NPOs Filing
- Registered charities and non-profit organizations must file their annual returns within six months after their fiscal year-end to maintain their status.
- Canada Revenue Agency – Charities and Giving
