2020 Corporate and Personal Tax Deadlines
HAPPY NEW YEAR!
The professional accounting nerds that we are, we’re here already planning for your 2020 corporate and personal tax needs.
To get started, a friendly reminder of the most common tax deadlines:
Personal Tax Deadlines in 2020
Corporate Tax Deadlines in 2020, and
GST Deadlines in 2020
Personal Tax Deadlines
PERSONAL TAX RETURNS (excluding Self-Employed)
If you and/or your spouse do not earn self-employment income, then your tax return and taxes owing are both due April 30, 2020.
SELF-EMPLOYED
If you and/or your spouse were self-employed or earned business income in 2019, then your tax return is due Monday June 15, 2020.
However, it is important to note that any taxes owing are still due April 30, 2020 even though the actual filing of the return is not due until June 15th.
TAX INSTALLMENTS
If you are required to pay tax installments in 2020, tax installments are due:
March 15th
June 15th
September 15th
December 15th
RRSP CONTRIBUTION DEADLINE
You can contribute to your RRSP until Monday, March 2, 2020 and still have it reduce your 2019 taxes owing.
Corporate Tax Deadlines
CORPORATE TAX RETURNS
Corporate tax return filings are due 6 months after the year-end.
For example, a December 31, 2019 year end would have a June 30, 2020 filing due date.
CORPORATE TAXES OWING
The due dates for balances owing are earlier than the due dates for actually filing the tax returns. For Canadian Controlled Private Corporation, corporate taxes are due 3 months after the year-end.
GST Deadlines
MONTHLY FILERS
When GST returns are filed monthly, the return and amounts owing are due 1 month after the end of the reporting period. For example, a December 1-31 filing period means the return is due January 31st.
QUARTERLY FILERS
When GST returns are filed quarterly, the return and amounts owing are due 1 month after the end of the reporting period. For example, a October 1 - December 31 filing period means the return is due January 31st.
ANNUAL FILERS (EXCEPT INDIVIDUALS WITH DECEMBER 31 YEAR-ENDS)
When GST returns are filed annually by a business that is not an individual, the return and amounts owing are due 3 months after the reporting period end date. For example, a January 1, 2019 - December 31, 2019 filing period means the return is due March 31, 2020..
ANNUAL FILERS (INDIVIDUALS WITH DECEMBER 31 YEAR-ENDS)
Individuals who file GST annually and have December 31 as their fiscal and tax year-ends have slightly different due dates. They mirror the tax due dates for self-employed individuals. Due dates for 2019:
GST owing is due April 30, 2020
Filing of the GST return is due June 15, 2020
Contact Us
If you have any questions or need clarification about when something is due, contact Mike by clicking here.
We look forward to keeping you organized and ensure no deadlines are missed!