NEW STUDY: DEBT & MENTAL HEALTH

2025 Canada tax deadline: when to file and when to pay

Posted on 26 June 2024

Written by Gillian Goldblatt

As the 2025 tax season slowly approaches, it’s essential for Canadians to be aware of key deadlines for filing and paying their taxes. Understanding these deadlines can help avoid penalties and ensure compliance with the Canada Revenue Agency (CRA) requirements. Being aware of the impending dates also allows you sufficient time to get your paperwork sorted and to speak to your accountant if needed. Not filing on time can lead to penalties, interest payments, and even action from the CRA which can lead to other issues. In this article, we’ll guide you through the 2025 Canada tax deadline, as well as other important dates for the 2025 tax year and tips to help you stay on track when it comes to your tax bill.

Key filing dates for the 2025 Canada tax deadline

Here are the key dates to be aware of when it comes to filing your taxes. Tax return deadlines and reporting requirements vary slightly depending on your tax situation (for instance, if you’re employed or unemployed):

Personal income tax returns

  • Filing Deadline: April 30, 2025
  • Extended Deadline for Self-Employed Individuals: June 15, 2025

Note: Even if you have until June 15 to file your return, any taxes owed must still be paid by April 30 to avoid interest charges.

Corporate income tax returns

Filing Deadline: Six months after the end of the corporation’s fiscal year. For example, if your corporation’s fiscal year ends on December 31, 2024, the filing deadline would be June 30, 2025.

Trusts

Filing Deadline: March 31, 2025. This applies to trusts with a December 31, 2024, year-end.

Payment Deadlines for 2025

Here are the key dates to be aware of when it comes to paying your taxes:

Personal income taxes

  • Payment Deadline: April 30, 2025. This is the final date to pay any taxes owed for the 2024 tax year without incurring interest charges.

Corporate income taxes

  • Payment Deadline: two months after the end of the corporation’s fiscal year.
  • For Canadian-controlled private corporations claiming the small business deduction, the payment deadline is three months after the end of the fiscal year.

Quarterly payment instalments

  1. For individuals and corporations required to make quarterly instalment payments, the deadlines are March 15, June 15, September 15, and December 15.

Important considerations for the 2025 Canada tax deadline

Here are some additional factors to consider when it comes to the Canadian tax deadline:

  • Penalties for late filing and payments
    • Filing your tax return late can result in a CRA penalty of 5% of the balance owing, plus 1% for each full month the return is late, up to a maximum of 12 months.
    • Late payment penalties include interest charges on the outstanding amount, calculated daily from the payment deadline until the balance is paid in full.
  • Filing online
    • The CRA encourages taxpayers to file electronically using services like NETFILE or EFILE, which are faster and can provide quicker refunds.
  • Pre-authorized debit
    • Setting up pre-authorized debit with the CRA can help ensure timely payments and avoid interest charges.
  • Tax professionals
    • You might wish to consider consulting a tax professional, especially if you have a complex tax situation. This applies to situations like for trusts, where a trust return must be filed for tax years ending after 31 December. If you’re looking after the taxes of a deceased person, you will also need to be familiar with the filing and payment rules. Equally, if you’ve filed for bankruptcy, your tax year will need to be divided into two income tax returns. A tax professional can help to ensure your return is accurate and filed on time.

GST and HST filing deadlines

When it comes to GST/HST returns, filing and payment deadlines depend on the business’ GST/HST filing window. If it’s a monthly or quarterly reporting window, the deadline is 1 month after the reporting period ends. If it’s annual, the deadline is 3 months after reporting ends. If it’s annual with a calendar year-end, the deadline is June 15, with payment due by April 30. These returns must be filed, even if you don’t have any business transactions. Once the reutrns have been filed, the CRA will share a prescribed form if you owe GST/HST for the reporting period. This can be used to pay any outstanding amounts.

Other important tax dates

While the tax filing and payment deadlines are undoubtedly the most important dates to be aware of, the following are useful to know for the upcoming tax year to ensure you avoid penalties and minimize deductions:

  • Earliest date to file your tax return: February 18, 2025
  • Deadline to file for the next Canada Carbon Rebate (CCR) on April 15: March 14, 2025
  • RRSP contribution deadline: February 28, 2025
  • Deadline for issuing T4 slips to employees and the CRA: February 28, 2025
  • Deadline for filing a family trust tax return with a calendar year-end: March 31, 2025
  • Deadline for filing the Statement of Amounts Paid or Credited to Non-residents of Canada (NR4): March 31, 2025

Tips for a smooth tax season

We recommend taking the following steps to ensure tax season is kept as simple as possible:

  1. Organize your documents early. Gather all necessary documents such as T4 slips, receipts, and any other relevant financial records well before the filing deadline.
  2. Use the CRA’s tools. Utilize the CRA’s online tools and resources, such as My Account, to track your tax status, view notices of assessment, and manage your tax affairs.
  3. Review last year’s return. Reviewing your previous tax return can help to identify any carry-forward amounts or credits that may apply to your current return.
  4. Stay informed. Keep an eye on any updates or changes to tax laws and deadlines by regularly checking the CRA website or subscribing to their notifications.

2025 Canada tax deadline: FAQs

Here are some of the most commonly asked questions we receive about the 2025 Canada tax deadline:

What happens if you don’t file taxes for 5 years in Canada?

If you don’t file taxes for 5 years in Canada, you could face significant penalties and interest charges from the Canada Revenue Agency (CRA). The CRA can impose late-filing penalties of 5% of the balance owing for the first year, plus an additional 1% for each month your return is late, up to a maximum of 12 months. If you repeatedly fail to file, these penalties can increase. Additionally, the CRA may charge compound daily interest on any unpaid taxes starting from the due date. Over time, this can result in substantial financial liabilities. The CRA also has the authority to withhold certain benefits and credits, and in severe cases, they may take legal action, including garnishing wages or seizing assets. It’s crucial to address any outstanding tax returns as soon as possible to avoid these consequences.

What is the last date to submit tax return in Canada?

The last date to submit your tax return in Canada is April 30th. If you or your spouse or common-law partner is self-employed, the deadline is extended to June 15th; however, any taxes owed must still be paid by April 30th to avoid interest charges. Meeting these deadlines is essential to avoid late-filing penalties and interest on any outstanding balances owed to the CRA.

What happens if you miss the tax deadline?

If you miss the tax deadline in Canada, you may face several consequences from the CRA. These include late-filing penalties, which are typically 5% of the balance owing, plus an additional 1% for each full month your return is late, up to a maximum of 12 months. If you have repeatedly missed deadlines in previous years, these penalties can increase. Additionally, interest will accrue on any unpaid taxes from the due date until the balance is paid in full. Missing the deadline can also delay any refunds you are owed and may result in the CRA withholding certain benefits and credits. To minimize these penalties and interest charges, it’s important to file your tax return and pay any amounts owing as soon as possible.

What if you can’t pay your taxes?

If you can’t pay your taxes in Canada, it’s crucial to still file your tax return on time to avoid late-filing penalties. The CRA offers several options to help manage your tax debt:

  1. Payment arrangements: you can contact the CRA to arrange a payment plan that allows you to pay your taxes over time in manageable installments.
  2. Taxpayer relief provisions: In cases of financial hardship, illness, or other exceptional circumstances, you can apply for taxpayer relief to reduce or waive penalties and interest.
  3. Consumer proposal: if your tax debt is significant, you might consider a consumer proposal, which allows you to negotiate a settlement with your creditors, including the CRA, to pay a portion of your debt over a specified period. In order to file a consumer proposal, you’ll need a Licensed Insolvency Trustee to help you file.
  4. Licensed Insolvency Trustee: consulting a Licensed Insolvency Trustee can provide you with professional advice and options tailored to your financial situation, including bankruptcy if necessary.

Ignoring your tax debt can lead to more severe consequences, such as garnished wages, seized assets, and additional interest and penalties. It’s essential, therefore, to communicate with the CRA and explore the available options to manage your tax obligations.

Understanding the 2025 Canada tax deadlines and staying organized can help you navigate the tax season smoothly. By staying proactive, you can avoid penalties and manage your taxes effectively. If you’re struggling to pay your tax debt, the team at Spergel, the ‘get rid of debt’ people, is here to help. We’ll review your financial circumstances and help you to take the first steps towards a debt free life. Book a free, no-obligation consultation today.

What to read next

Gillian Goldblatt

Gillian Goldblatt

Gillian Goldblatt is a Chartered Professional Accountant and Insolvency and Restructuring Professional. She is also an award-winning LIT (Licensed Insolvency Trustee) and Vice-Chair of the Ontario Association of Insolvency & Restructuring Practitioners Board. As Spergel's resident expert on debt consolidation and financial literacy, you can find Gillian being interviewed regularly on popular Canadian news programs when she's not at the office helping individuals and businesses get back on track.

Schedule a Free Consultation with Gillian Goldblatt (or your local Spergel LIT) by:

Phone 1-877-501-4321 (toll-free)

24/7 live chat (with a human) on our website

Facebook messenger

Email (hello@spergel.ca)

Online booking calendar

Be Debt Free. You Owe It to Yourself.

You may be interested in:

Helpful starting information:

What to Bring to an Appointment

To get the debt help that you need, please bring a list of who you owe and how much to each, a list of everything you own and your monthly household budget. Don’t have everything right away? Don’t worry – We will guide you through each step.

Download Form

Your Information

We’ll walk you through our application process. But, if you want to prepare for your debt free assessment consultation in advance, download our information form and fill in what you can.

Download Form

Calculate Your Debt Repayment Options

How can you compare your debt repayment options if you don’t know how much they will cost you? Your solution will become much clearer when you are able to compare costs.

Debt Calculator

Ready to Be Debt-Free?

If you’re ready to be debt free, it’s time to meet with one of our knowledgeable Licensed Insolvency Trustees at your convenience and get started

Meet with a trustee