Canadian tax filing and payment deadlines for middle-market taxpayers for 2024
Executive summary
To simplify your tax-filing experience, we have compiled the key tax filing and payment deadlines for the middle-market taxpayers. This article will serve as a one-stop solution for keeping track of the key tax deadlines approaching. By filing the tax return(s) and paying the taxes due on time, taxpayers can avoid delays to any refund, benefit, or credit payments they may be entitled to. In addition, complying with the due dates will help to avoid late-filing and/or late-payment penalties and interest.
Canadian tax filing and payment deadlines for middle-market taxpayers for 2024
With the approaching tax season, a taxpayer may have to file numerous returns to ensure tax compliance. In addition, with the fast-paced tax developments happening, keeping track of the annual tax filing and payment deadlines could be difficult. This article is a one-stop solution for middle-market taxpayers as it summarizes key tax filing and payment deadlines for the year 2024. The table below is not exhaustive but caters to the most common compliance relevant for middle market taxpayers.
Where the taxpayer omits filing and payment, late files and remits, additional penalties and/or interest kicks in leading to an additional cost burden on the taxpayer.
| Return/ Form type | Taxpayer type | Due date of filing or payment |
| T1 Returns | Self-employed individuals or those whose spouses or common-law partners are self-employed |
· Return due on June 15, 2024* · Tax owing due on April 30, 2024 |
| Other individuals |
· Return due on April 30, 2024 · Tax owing due on April 30, 2024 |
|
| Deceased individuals where the date of death is before Nov. 1, 2023 |
· Return due on: o For self-employed individuals: June 15, 2024* o For others: April 30, 2024 · Tax owing due on April 30, 2024 |
|
| Deceased individuals where the date of death is on or after Nov. 1, 2023 |
· Return due six months after the date of death · Tax owing due six months after the date of death |
|
| Non-residents individuals with a Canadian filing obligation (Section 216/217 returns) |
· Return due on June 30, 2024* · Tax owing in excess of withheld amounts due on April 30, 2024 |
|
| T2 Corporate tax returns | For corporations having a Dec. 31, 2023 calendar year-end |
· Return due on June 30, 2024* · Tax owing due: o For CCPCs claiming Small Business Deduction (SBD) with taxable income (including all associated corporations) less than the small business limit: three months after year-end o For all other corporations: two months after year-end |
| For corporations having a non-calendar year-end |
· Return due no later than six months after the end of the corporation’s taxation year · Tax owing due: o For CCPCs claiming SBD with taxable income (including all associated corporations) less than the small business limit: three months after year-end o For other corporations: two months after year-end |
|
| T3 Trust returns | Inter-vivos trusts (required to have a calendar year-end) | Return due 90 days after year-end on March 30, 2024* |
| Testamentary trusts and Non-resident trusts with a filing obligation in Canada (not required to have a calendar year-end) | Return due no later than 90 days after the trust’s year-end date | |
| T4, T4A-NR, T5 | - | Due on Feb. 29, 2024 |
| NR4 Non-resident information returns | For an estate or trust | Return due no later than 90 days after year-end |
| Other taxpayers | Return due on March 31, 2024* | |
| T5013 Partnership returns |
· Where partners are either individuals, trusts, professional corporations or a combination thereof; and · Partnerships that are tax shelters |
Return due on March 31, 2024* |
| Where partners are corporate partners (not including professional corporations) | Return due five months after the end of the taxation year of the partnership | |
| All other cases |
Earlier of: · March 31 after the calendar year in which the fiscal period of the partnership ended; · The day that is five months after the end of the partnership's fiscal period |
|
| T1134 Information return relating to foreign affiliates | For individuals and other taxpayers having a Dec. 31, 2023 year-end | Return due on Oct. 31, 2024 |
| For other taxpayers with a taxation year beginning in 2023 | Return due no later than 10 months after the year-end | |
| T1135 Foreign income verification statement | Self-employed individuals or those whose spouses or common-law partners are self-employed | Return due on June 15, 2024* |
| Other individuals | Return due on April 30, 2024 | |
| For corporations having a Dec. 31, 2023 calendar year-end | Return due on June 30, 2024* | |
| For corporations with a non-calendar year-end | Return due no later than six months after the end of the corporation’s taxation year | |
|
· Partnerships where partners are either individuals, trusts, professional corporations or a combination thereof; and · Partnerships that are tax shelters |
Return due on March 31, 2024* | |
| Partnerships where partners are corporate partners (not including professional corporations) | Return due five months after the end of the taxation year of the partnership | |
| All other partnerships |
Earlier of: · March 31 after the calendar year in which the fiscal period of the partnership ended; · the day that is five months after the end of the partnership's fiscal period |
|
| Inter-vivos trusts with a Dec. 31, 2023 year-end | Return due on or before March 30, 2024* | |
| Testamentary trusts | Return due no later than 90 days after the trust’s year-end date | |
| T106 Information return of non-arm’s length transactions with non-residents | Self-employed individuals or those whose spouses or common-law partners are self-employed | Return due on June 15, 2024* |
| Other individuals | Return due on April 30, 2024 | |
| For corporations having a Dec. 31, 2023 calendar year-end | Return due on June 30, 2024* | |
| For other corporations | Return due no later than six months after the end of the corporation’s taxation year | |
|
· Partnerships where partners are either individuals, trusts, professional corporations or a combination thereof; and · Partnerships that are tax shelters |
Return due on March 31, 2024* | |
| Partnerships where partners are corporate partners (not including professional corporations) | Return due five months after the end of the taxation year of the partnership | |
| Inter-vivos trusts with a Dec. 31, 2023 year-end | Return due on or before March 30, 2024* | |
| Testamentary trusts and Non-resident trusts with a filing obligation in Canada | Return due no later than 90 days after the trust’s year-end date | |
| T661 Scientific Research and Experimental Development (SR&ED) claim | For self-employed individuals | Form due no later than 12 months after the filing due date of T1 |
| For corporations (except for non-profit SR&ED corporation) | Form due no later than 12 months after the filing due date of T2 or 18 months from the end of the taxation year | |
| For non-profit SR&ED corporation | Form due no later than six months after the end of the corporation’s taxation year | |
| For partnerships | Form due no later than 12 months after the earliest of all filing due dates for each member’s income tax return deadline for the tax year in which the partnership’s fiscal period ends. | |
| For trusts | Form due no later than 12 months after the filing due date of T3 | |
| RC313 Reportable Uncertain Tax Treatments (RUTT) Information Return | For corporations having a Dec. 31, 2023 calendar year-end that are required to disclose RUTT | Information return due no later than June 30, 2024* |
| For corporations with a non-calendar year-end that are required to disclose RUTT | Information return due no later than six months after the end of the corporation’s taxation year | |
| UHT-2900 Underused Housing Tax Return and Election Form | Certain taxpayers owning a residential property in Canada |
· Return for 2023 calendar year due on or before April 30, 2024 · Return for 2022 calendar year due on or before April 30, 2024 due to the one-time extension allowed to the taxpayers · Tax owing due on April 30, 2024 |
* As per the Canada Revenue Agency (CRA) guidance, when a due date falls on a Saturday, Sunday or public holiday recognized by the CRA, the return is considered filed and the payment is considered to be made on time if the CRA receives the filing, or if the payment or filing is postmarked, on or before the next business day. Therefore, in these instances, as the due date falls on a weekend or a federal holiday, the filing or payment deadline is the first working day following.