Running a business in Canada means wearing a dozen hats at once — owner, marketer, HR, and yes… accountant. Ignore the tax man and you’ll pay for it (literally). The good news? Tax deadlines don’t change much year to year, so once you know them, you’re ahead of the curve.
Here’s your complete guide to the key CRA tax deadlines for Canadian small business owners — plus practical tips to stay ahead and avoid costly penalties.
The Big Three Deadlines Every Small Business Must Know
1. April 30 – Payment Deadline for Most Canadians
April 30 is the single most important tax date for Canadian business owners. Even if you’re self-employed and file later, any balance owing is due by April 30.
- Late payments trigger daily compound interest from CRA starting May 1.
- Filing extensions don’t mean payment extensions.
2. June 15 – Filing Deadline for the Self-Employed
If you’re self-employed (sole proprietor, freelancer, consultant), you get until June 15 to file your return.
- If June 15 falls on a weekend, the deadline rolls to the next business day.
- But remember: any taxes owed were still due by April 30.
3. GST/HST/QST Filing Deadlines
If your business collects GST/HST (or QST in Quebec), you’ll have regular filing obligations.
- Annual filers: Return due three months after fiscal year-end.
- Quarterly filers: Due one month after each quarter ends.
- Q1 (ending March 31) → due April 30
- Q2 (ending June 30) → due July 31
- Q3 (ending September 30) → due October 31
- Q4 (ending December 31) → due January 31
Other Key Deadlines to Keep in Mind
Corporate Tax (T2) Return
Corporations must file their T2 return within six months of fiscal year-end.
- Example: If your fiscal year ends Dec 31, your T2 return is due June 30.
- Balances owing are due two or three months after year-end, depending on business type.
Payroll Remittances
Most small businesses remit payroll deductions monthly, due by the 15th of the following month.
- Some employers may qualify for quarterly remittance schedules.
- Missed deadlines = penalties + interest.
Tax Installments
If you owe more than $3,000 in tax ($1,800 in Quebec) in the current and previous two years, CRA requires you to pay in quarterly installments:
- March 15
- June 1
- September 15
- December 15
What Happens if You Miss a Deadline?
CRA penalties are steep and grow quickly:
- Late-filing penalty: 5% of balance owing + 1% for each full month late (up to 12 months).
- Repeat offenders: Penalties double.
- Interest: Compounded daily on amounts owing.
In other words, CRA quickly becomes your least favourite bank.
Checklist: Staying Ahead of Deadlines
- Reconcile your books monthly — don’t wait until April to see what’s broken.
- Put tax money aside in a separate account so you’re not “accidentally” spending it.
- Track GST/HST separately — it’s not your income.
- Mark deadlines in your calendar (with reminders two weeks ahead).
- Hire support if this stuff makes you want to cry.
Staying ahead of tax deadlines is one of the simplest ways Canadian business owners can save money, stress, and sleep.
The best way to beat tax stress? Preparation. Let Your Business Advisor help you plan ahead — contact us for a no-obligation consultation!
Want to learn more? Here are additional resources to support your business:
Canada Revenue Agency (CRA) – Business Taxes
Canada.ca – Taxes
CRA GST/HST for Businesses