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Tax Season is Upon Us: Important Tax Deadlines to Remember

Updated: Jan 13, 2023

As we embark on a new year, it's important for Canadian taxpayers to be aware of the upcoming deadlines for filing their tax returns. Here are some key dates to keep in mind for 2023:

  • March 1, 2023: This is the deadline to contribute to your RRSP and have it reduce your 2022 taxes owing.

  • May 1, 2023: Deadline for most Canadians to file their personal income tax returns. This includes salaried employees, as well as pensioners and retirees.

  • June 15, 2023: Deadline for self-employed individuals and their spouses or common-law partners to file their personal income tax returns if they or their spouse or common-law partner carries on a business.

  • Corporate tax returns are due no later than six months after the end of your taxation year. The taxation year is your corporations fiscal period.

It's also important to note that if you owe taxes, they must be paid by April 30th, otherwise, you may be subject to interest charges on unpaid amounts.

Tax Instalments

If you are required to pay tax instalments in 2023, they are due:

March 15, June 15, September 15, and December 15

GST Filings

  • GST filings for monthly and quarterly filers are due 1-month after the period end date.

  • GST filings for annual filers that are not individuals are due three months after the period end date.

It's also a good idea to note that these dates may be subject to change, so it's always best to check the Canada Revenue Agency (CRA) website for the most up-to-date information.

To avoid any last-minute stress, it's best to start gathering all the necessary information and documents well in advance of the deadlines. This includes things like T4 slips, charitable donation receipts, and any other documentation that will be needed to complete your tax return.

It's also worth taking a look at the various tax credits and deductions that are available, as these can help lower the amount of taxes that you owe. But we'll dig into that another day.

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