What’s the Tax Filing Deadline: April 30 or June 15?

It’s really surprising how many people don’t know when the tax filing deadline is. CRA often mentions two dates: April 30 and June 15. Which is it for you? Unless you or your spouse are reporting income from an unincorporated small business, the answer will usually be April 30.  That’s not true this year, though.

Because April 30 is a Sunday in 2017, the filing due date is actually May 1. Unless either you or your spouse is a proprietor, if you owe money to the government, you will pay a late filing penalty if you don’t file by midnight that Monday.

Filing a tax return is also mandatory if you are splitting pension income with your spouse, or if you received Working Income Tax Benefits (WITB) advance payments or are applying for more this year.

You must also file if you are required to repay Old Age Security (OAS) or Employment Insurance (EI) benefits, or if you are repaying Home Buyer Plan (HBP) or Lifelong Learning Plan (LLP) amounts you withdrew from your RRSP.

For the first time this year, you must file a tax return to report the disposition of a personal residence in 2016, even if it is exempt from tax. If you own capital property abroad, a Foreign Income Verification Form T1135 is required, even if you don’t file a tax return. See a tax pro if you are unsure.

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