Important Dates

Please note the following important dates are estimates only. Confirm your deadlines directly with your professional advisor.

• December 15, 2024

• • Payroll Remittances: November payroll source deductions for monthly remittances are due. This includes deductions for income tax, Canada Pension Plan (CPP), and Employment Insurance (EI) premiums.

• December 31, 2024

• • Corporate Income Tax Instalments: Monthly and quarterly corporate tax instalments are due for all corporations required to pay instalments.
  • Fiscal Year-End Tax Payments:
    • Canadian-Controlled Private Corporations (CCPCs): with a September 30 fiscal year-end.
    • Non-CCPCs: with an October 31 fiscal year-end.
  • Fiscal Year-End Tax Filings: Corporations with a June 30 fiscal year-end.
  • T1135: Corporations with a June 30 fiscal year-end.
  • T1134: Corporations with a February 28 fiscal year-end.
  • Annual GST/HST Filers: with a September 30 fiscal year-end.
  • T106 Information Return: For non-arms length transactions with non-residents, with a fiscal year ending on June 30, 2024.
  • SR&ED Claims: Scientific Research and Experimental Development (SR&ED) claims with a fiscal year ending on June 30, 2023.

Note: December is also an excellent time to review your investment portfolio, make contributions to your FHSA and TFSA and consider loss utilization within your portfolio.

• January 15, 2025

• • Payroll Remittances: December payroll source deductions for monthly remittances are due. This includes deductions for income tax, Canada Pension Plan (CPP), and Employment Insurance (EI) premiums.

• January 31, 2025

• • Fiscal Year-End Tax Payments:
    • Canadian-Controlled Private Corporations (CCPCs): with an October 31 fiscal year-end.
    • Non-CCPCs: with a November 30 fiscal year-end.
  • Fiscal Year-End Tax Filings: Corporations with a July 31 fiscal year-end.
  • T1135: Corporations with a July 31 fiscal year-end.
  • T1134: Corporations with a March 31 fiscal year-end.
  • Annual GST/HST Filers: with an October 31 fiscal year-end.
  • T106 Information Return: For non-arms length transactions with non-residents, with a fiscal year ending on July 31, 2024.
  • SR&ED Claims: Scientific Research and Experimental Development (SR&ED) claims with a fiscal year ending on July 31, 2023.

Sources:

• Canada Revenue Agency – Important dates for corporations (canada.ca)
• Canada Revenue Agency – When to file your corporation income tax return (canada.ca)
• Canada Revenue Agency – Corporate income tax payments (canada.ca)
• Canada Revenue Agency – Businesses have different filing and payment deadlines (canada.ca)

This information is for discussion purposes only and should not be considered professional advice. There is no guarantee or warrant of information on this site and it should be noted that rules and laws change regularly. You should consult a professional before considering implementing or taking any action based on information on this site. Call our team for a consultation before taking any action. ©2024 Shajani CPA.

Shajani CPA is a CPA Calgary, Edmonton and Red Deer firm and provides Accountant, Bookkeeping, Tax Advice and Tax Planning service.

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