Tax season is upon us and This is the Deal Inc. is here to make your life easier! As we begin this wild time, here are a few things to keep in mind.
What are the main deadlines?
Canadian personal (T1 general) tax returns (employee of a company) and any taxes owing, are due April 30th 2019.
Canadian personal (T1 general) tax returns (self-employed) are due June 15th 2019. However, any taxes owing are due April 30th 2019.
Canadian HST (sole proprietor or partnership, with December 31 year end) are due June 15th 2019. However, any taxes owing are due April 30th 2019.
Canadian HST (corporations, with December 31 year end) and any taxes owing, are due March 31st 2019.
US personal (Federal and State) tax returns and any taxes owing, due April 15th 2019. If you file an extension for your US taxes (unfortunately, extensions are only possible for US tax returns), your payment is due April 15th, 2019, however your actual tax return is not due until October 15th, 2019. If you have a US filing and would like to file an extension, please let us know ASAP to ensure we can get this done for you in time.
RRSP contributions, to be claimed on the 2018 personal return, is March 1, 2019. Please ensure when contributing, you’re staying within your RRSP contribution limit! If you want to learn more about this, feel free to set up an RRSP consulting session with us!
For answers to your questions and assistance with all of the above, get in touch with us so that we can get a head start and beat the deadlines!