| Dec
31- Trigger
capital gains & losses,
tax shelters, donations |
Quarterly -
GST,EHT, Personal Tax Installments. |
Jan
30 - Pay interest on employee/
shareholders loans due to Corporation (if any) |
Monthly-Corporation Tax
Installments
last day of each month
PST Payments
23rd of each month
ETD (Employee payroll tax deductions)
15th of each month
WSIB
End of month following (eg Jan due Feb 28)*
*Penalties are charged
if PST or ETD are paid late** |
Feb
28 - T4,T5
(interest, dividends) slips and
returns filing deadline |
90
Days After -
Balance of corporation Taxes (returns should be
filed) |
| Mar 1 - RRSP
contribution deadline. |
Year End - Estate tax returns if
non calendar year end |
| Mar 31- T3
Trust returns,Estate returns, slips and taxes
payable due.WSIB annual returns |
Special Cases - R & D
tax credit claims
- 18 months after the corporate
year end.**No
leniency even if one day late**
Objection & Appeals - 90 days from the date
of the related tax assessment. |
| April 15 - U.S. personal income
tax returns and taxes payable due |
Tax Penalties & Interest:
- 15% for late PST
filings
- 10%on late ETD payroll tax filling
- $100 minimum for late T4,T5 returns
- Approx. 2 or 3% per month on late GST payments
- Interest at 7-9% on late tax payments.
- 5% plus 1% per month plus interest for
late personal tax returns (grows if late
a second
or subsequent
year)
|
| April 30 - Personal Tax return,
GSTon self-employment,taxes payable due. |
|
| June 15 - Self employed tax and
GST returns due (taxes to be paid April 30) |
|
