In Canada, the tax filing deadlines are generally the same across all provinces and territories, as the federal tax system administered by the Canada Revenue Agency (CRA) governs them. Here are the main deadlines:
General Tax Deadlines for Individuals
- Income Tax Return:
- The deadline for most individuals to file their income tax return is April 30 of each year.
- If April 30 falls on a weekend or holiday, the deadline is the next business day.
- Self-Employed Individuals:
- If you or your spouse/common-law partner are self-employed, you have until June 15 to file your return. However, any balance owing must be paid by April 30.
- Deceased Individuals:
- For someone who passed away between January 1 and October 31, the deadline is April 30 of the following year.
- For someone who passed away between November 1 and December 31, the deadline is six months after the date of death.
Provincial Considerations
While the deadlines for filing taxes are consistent across provinces due to the federal administration, certain provinces may have additional requirements or forms. Here are a few examples:
- Quebec:
- Residents must file a separate provincial tax return with Revenu Québec by April 30.
- Alberta, British Columbia, Ontario, etc.:
- No separate provincial return is required, as the federal return covers provincial tax calculations.
Business Tax Deadlines
- Corporation Income Tax:
- The deadline to file a corporate tax return (T2) is six months after the end of the corporation’s fiscal year.
- GST/HST Filing:
- Depending on the business’s reporting period (monthly, quarterly, or annually), deadlines can vary. Annually, the deadline is three months after the fiscal year-end.
Important Points
- Payment Deadlines:
- Even if the filing deadline is extended (for self-employed individuals, for example), any taxes owing must still be paid by April 30 to avoid interest charges.
- Late Filing Penalties:
- If you owe taxes and do not file by the deadline, a penalty of 5% of the balance owing plus 1% for each month late (up to 12 months) will apply.
For specific provincial details or exceptions, it is best to refer to the provincial tax agency or the CRA website.
Canada’s tax system involves both federal and provincial/territorial taxes. Here’s a summary of the provincial income tax rates across Canada for the 2024 tax year:
Federal Tax Rates (2024)
- 15% on the first $55,292
- 20.5% on the next $55,293 (up to $110,585)
- 26% on the next $61,127 (up to $171,712)
- 29.32% on the next $67,698 (up to $239,410)
- 33% on the portion over $239,410
Provincial Tax Rates (2024)
Alberta
- 10% on the first $142,292
- 12% on the next $26,637 (up to $168,929)
- 13% on the next $53,274 (up to $222,203)
- 14% on the next $106,270 (up to $328,473)
- 15% on the portion over $328,473
British Columbia
- 5.06% on the first $47,630
- 7.7% on the next $47,629 (up to $95,259)
- 10.5% on the next $13,091 (up to $108,350)
- 12.29% on the next $19,421 (up to $127,771)
- 14.7% on the next $48,535 (up to $176,306)
- 16.8% on the portion over $176,306
Manitoba
- 10.8% on the first $38,211
- 12.75% on the next $38,211 (up to $76,422)
- 17.4% on the portion over $76,422
New Brunswick
- 9.68% on the first $48,436
- 14.82% on the next $48,435 (up to $96,871)
- 16.52% on the next $15,709 (up to $112,580)
- 17.84% on the next $20,589 (up to $133,169)
- 21% on the portion over $133,169
Newfoundland and Labrador
- 8.7% on the first $41,457
- 14.5% on the next $41,457 (up to $82,914)
- 15.8% on the next $46,912 (up to $129,826)
- 17.3% on the next $47,622 (up to $177,448)
- 18.3% on the next $53,764 (up to $231,212)
- 19.8% on the portion over $231,212
Northwest Territories
- 5.9% on the first $48,326
- 8.6% on the next $48,325 (up to $96,651)
- 12.2% on the next $60,443 (up to $157,094)
- 14.05% on the portion over $157,094
Nova Scotia
- 8.79% on the first $30,000
- 14.95% on the next $30,000 (up to $60,000)
- 16.67% on the next $18,000 (up to $78,000)
- 17.5% on the next $42,000 (up to $120,000)
- 21% on the portion over $120,000
Nunavut
- 4% on the first $50,448
- 7% on the next $50,448 (up to $100,896)
- 9% on the next $50,723 (up to $151,619)
- 11.5% on the portion over $151,619
Ontario
- 5.05% on the first $49,231
- 9.15% on the next $49,231 (up to $98,462)
- 11.16% on the next $13,189 (up to $111,651)
- 12.16% on the next $22,162 (up to $133,813)
- 13.16% on the portion over $133,813
Prince Edward Island
- 9.8% on the first $34,000
- 13.8% on the next $34,000 (up to $68,000)
- 16.7% on the portion over $68,000
Québec
- 15% on the first $49,275
- 20% on the next $49,275 (up to $98,550)
- 24% on the next $21,665 (up to $120,215)
- 25.75% on the portion over $120,215
Saskatchewan
- 10.5% on the first $49,720
- 12.5% on the next $49,720 (up to $99,440)
- 14.5% on the portion over $99,440
Yukon
- 6.4% on the first $53,359
- 9% on the next $53,358 (up to $106,717)
- 10.9% on the next $56,899 (up to $163,616)
- 12.8% on the next $106,372 (up to $269,988)
- 15% on the portion over $269,988
Key Points
- Progressive System: Both federal and provincial/territorial rates are progressive, meaning rates increase with income.
- Variation: There is significant variation among provinces and territories.
- Combined Rates: Effective tax rates can be calculated by combining federal and provincial/territorial rates.
Note: Income thresholds and rates may be indexed annually for inflation or changed through government policy. Always consult the latest information or a tax professional for specific advice.
