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Check these tax filing deadlines off your to do list

We answer all your questions about when to file returns for individuals and those who are self-employed

With the promise of spring weather comes another season, tax time! While most Canadians have until April 30, 2024* to file, not meeting a deadline could result in interest and/or penalties. It's also important to note that any reference to a spouse includes a common-law partner. Here are some important dates to keep in mind.

KEY DEADLINES

Tax filing deadline for individuals: April 30, 2024

Payment deadline for individuals: Unless there are special circumstances that require instalment payments (such as a second job, rental income, etc.), any balance owing must be paid by April 30, 2024.

Tax filing deadline for self-employed taxpayers (and their spouses): June 15, 2024.

Payment deadline for self-employed taxpayers (and their spouses): Despite their later filing deadline, self-employed taxpayers (and their spouses) are still required to pay any balance owing by April 30, 2024.

Tax filing and payment deadline for deceased taxpayers: If the death occurred from January 1 to October 31, 2023, the return must be filed no later than April 30, 2024. If the death occurred from November 1 to December 31, 2023, the return must be filed within six months after the date of death.

Tax filing and payment deadline for deceased taxpayers who carried on a business at the time of their death: If the death occurred from January 1 to December 15, 2023, while the business was in operation, the return is due by June 15, 2024. If the death occurred from December 16 to December 31, 2023, the return is due within six months after the date of death. Regardless of when the taxpayer died, the tax will be owing on April 30, 2024.

FILING METHODS AND PROCESSING TIME

The Canada Revenue Agency (CRA) encourages taxpayers to sign up for direct deposit and file their 2023 return online as paper returns will be processed in the order they are received.

In contrast, a notice of assessment could be issued within two weeks of receiving a digital return. According to the CRA, “If you file electronically and are signed up for direct deposit, you get your refund in as little as eight business days.”

STAY UP TO DATE

See what’s new for 2024 personal tax returns and visit CPA Canada’s tax blog for the latest tax updates.

*This article was updated on February 15, 2024, to reflect the dates for the current tax filing year.

Photo caption: Tax filing season has already begun and will end on April 30, 2024, for most individuals (Getty Images/AzmanL)