When it comes to filing and paying your taxes, it’s your responsibility to know and meet the important tax deadlines, which may vary from year to year. Over the course of this tax year, there are various important tax deadlines that may be applicable to you. Keep them in mind or better yet, take note of the following dates in your calendar. Planning ahead of time is also important to avoid headaches, stress, and late payment penalties.
January 2021
| Fri, Jan. 1 | New TFSA contribution room. |
| Sat, Jan. 30 | Deadline to pay interest on a family loan at prescribed interest rates to avoid income attribution. |
March 2021
| Mon, Mar. 1 | Deadline to contribute to an RRSP for the 2020 tax year (including Home Buyers’ Plan/Lifelong Learning Plan repayments). |
| Mon, Mar. 1 | Deadline to issue T4s, T4As, and T5s and for issuers of TFSAs to file their annual information returns. |
| Mon, Mar. 15 | First quarter personal tax instalment is due. |
| Wed, Mar. 31 | Deadline to file NR4s and T3 trust returns. |
April 2021
| Thur, April 15 | Deadline to file U.S. individual income tax returns for 2020 or 6-month extension requests. |
| Thur, April 15 | Deadline to file 2020 report of Foreign Bank and Financial Accounts, FinCEN report 114 (formerly FBAR), for U.S. citizens living in Canada. |
| Fri, April 30 | Deadline to file personal income tax returns for 2020 where the taxpayer or taxpayer’s spouse/common-law partner does not have self-employed business income. |
June 2021
| Tue, June 15 | Second quarter personal tax instalment is due. |
| Tue, June 15 | Deadline to file personal income tax returns for 2020 where the taxpayer or taxpayer’s spouse/common-law partner has self-employed business income. |
| Tue, June 15 | Deadline to file GST/HST returns for self-employed individuals with a December 31 year-end |
| Tue, June 15 | Deadline to file 2020 U.S. individual income tax returns for U.S. citizen or resident alien residing abroad and U.S. non-resident with no withholding tax. |
September 2021
| Wed, Sep. 15 | Third quarter personal tax instalment is due. |
December 2021
| Wed, Dec. 15 | Fourth quarter personal tax instalment is due. |
| Wed, Dec. 29 | Last day to settle trades in calendar year 2021 for Canadian tax-loss selling. |
| Fri, Dec. 31 | Contribution deadline for Registered Education Savings Plans (RESP). |
| Fri, Dec. 31 | Deadline to make charitable donations to be claimed for the 2021 tax year. |
