Notable Tax Dates for Small Business

Remember, being organized and prepared saves time, money and a little stress. As a side not, those who prepare more than 10 returns must file electronically. This applies to both T1(General Income tax and benefits) and T2(Corporate Income tax) returns.

 

February 28, 2013

-Employers due date for filing T4’s, T4A’s and T5 slips

March 1, 2013

-Deadline for 2012 RSP contributions

March 15, 2013

-Due date for 1st quarter tax installment payments

April 1, 2013

-BC returns to PST of 7%

April 30, 2013

-Individual Tax Returns are due

-Self Employed tax owing is due

June 15, 2013

-Self Employed Tax Returns are due

 

GST/HST – Filing due dates depend on the reporting period and annual sales (Sole proprietor + Corporations)

Annual Sales up to 1.5mill: Can file monthly, quarterly or annually

Annual sales from 1.5mill to 6mill: Can file monthly or quarterly

Annual Sales of 6mill and up: Must file monthly

*Those with a reporting period of monthly or quarterly, have one month from the end of their period to file and pay any GST/HST owed.

* Those with a reporting period of annually whose year end is December 31, has a filing due date of April 30, and taxes payable due date of June 15.

* Those with a reporting period of annually whose year end is not December 31, has 3 months after the end of the fiscal year to file and pay GST/HST owing.

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