02/08/2023
Tax 2023 Important dates:
20th of February
On this day, the federal government will begin accepting electronic income tax returns through NETFILE and ReFILE.
28th of February
All tax-related statements should be issued by the end of February. Your employer will be penalized if your T4 is not issued on time.
1st of March
Take advantage of the income tax reduction by topping up your RRSP today
RRSP contribution and deduction limits are shown on the previous year's assessment notice.
1st of May
Since April 30, the annual tax-filing deadline for individuals.
April 01 falls on a Sunday, so May 1 will be the deadline this year.
Taxes are due if an individual owes the government money.
Compound daily interest will be charged starting May 2.
If you miss the filing deadline, late-filing penalties are 5% of the balance owed for 2022.
In addition an extra 1% fee for each month after the deadline, up to a maximum of 12 months.
15th of June
For self-employed Canadians, the deadline to file their taxes is June 15.
However, similar to the May 1 general deadline, if any taxes are owed, the CRA will begin charging interest on unpaid balances starting May 2.