Missing a tax deadline in Canada does not just mean a late filing penalty. The CRA charges compound daily interest on any balance owing, and repeated late filings can increase the penalty rate. Staying on top of deadlines is one of the simplest ways to avoid unnecessary costs.
For most individuals, the T1 personal tax return is due April 30, 2026. If you or your spouse are self-employed, the filing deadline extends to June 15, 2026, but any balance owing is still due by April 30. This is a common point of confusion that catches self-employed taxpayers off guard.
Corporate tax returns (T2) are due six months after your fiscal year-end. If your corporation has a December 31 year-end, that means June 30, 2026. However, any balance of tax owing is due two or three months after year-end (depending on the size of your corporation), so do not wait until the filing deadline to pay.
GST/HST returns follow their own schedule. Annual filers who are individuals with business income and a December 31 fiscal year-end generally have until June 15, 2026 to file, but any net tax owing is due April 30, 2026. Quarterly filers have one month after each quarter-end. If you are required to file monthly, returns are due one month after each reporting period.
Information returns also have firm deadlines. For 2025 T4 slips (employment income) and T5 slips (investment income), February 28, 2026 falls on a Saturday, so the next-business-day filing deadline is March 2, 2026. The RRSP contribution deadline for the 2025 tax year is also March 2, 2026.
We recommend setting calendar reminders at least two weeks before each deadline. If you work with us, we will track these dates on your behalf and reach out well in advance to collect the information we need. Prevention is always less expensive than penalties.
Karim Bharwani, CPA
Founder of Versatile CPA. 10+ years advising owner-managed businesses in Calgary and across Canada.
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