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As tax season approaches, it’s crucial for Canadians to be aware of important deadlines to ensure smooth and timely submissions. Failing to meet these deadlines can result in penalties, interest on unpaid taxes, and missed opportunities for credits and deductions. This article outlines the key dates for the 2025 tax season, including federal and provincial deadlines for both Canada and Quebec.

Key Dates for Federal Taxes in Canada

  1. January 1, 2025: The tax year for individuals begins. Any income earned from this date onwards will need to be reported on your 2025 tax return.
  1. February 28, 2025: Employers must provide T4 slips and other tax information slips to employees and contractors. Ensure you receive all necessary forms from your employers by this date.
  1. April 30, 2025: This is the deadline for most Canadians to file their personal income tax returns for the 2024 tax year. If you owe taxes, payment is also due on this date to avoid interest charges.
  1. June 15, 2025: If you or your spouse/common-law partner is self-employed, you have until June 15 to file your tax return. However, any taxes owed must still be paid by April 30 to avoid interest.
  1. September 30, 2025: For those who filed for an extension or carry-forward amounts, this is the deadline to file your returns to avoid penalties.
  1. October 31, 2025: If you have a balance owing from your 2024 tax return, this is the last day to make your payment without incurring interest charges.

Key Dates for Quebec Taxes

  1. March 15, 2025: Tax slips, including RL-1 (Relevé 1) for employment income, must be sent out to employees and contractors by this date.
  1. April 30, 2025: This is also the deadline for most Quebec residents to file their provincial income tax returns for 2024. Payments owed to Revenu Québec are due on the same date.
  1. June 15, 2025: Similar to federal rules, if you are self-employed, you have until June 15 to file your Quebec tax return. However, any amounts owed must still be paid by April 30.
  1. September 30, 2025: This date marks the deadline for filing returns if you’ve filed for an extension or if you have carry-forward amounts.
  1. October 31, 2025: If you owe taxes to Revenu Québec from your 2024 tax return, this is the final day to make your payment without incurring interest.

Additional Tips

  • Keep Records: Throughout the year, maintain organized records of your income, expenses, and any documents related to deductions or credits. This will simplify the filing process.
  • Review Tax Changes: Tax regulations can change yearly, so familiarize yourself with any new tax credits, deductions, or rules that may affect your filing.
  • Consider Electronic Filing: Filing your tax return electronically can expedite processing and reduce errors. The Canada Revenue Agency (CRA) and Revenu Québec offer online platforms for submissions.
  • Consult an Accountant: If your tax situation is complex, consider consulting with a tax professional to ensure compliance and to maximize potential refunds.

Being aware of and adhering to these important tax dates is essential for a smooth tax season in Canada and Quebec. Mark your calendar, gather your documents, and prepare to meet these deadlines to ensure you file your taxes accurately and on time.

Accounting and Financial News via Acco