T3 - trust income from investments such as mutual funds and exchange traded funds (ETFs). Expect these at the end of March or beginning of April each tax year
T4 - employement income. Expect these at the end of February or beginning of March each tax year.
T5 - dividend and interest income. Expect these between the end of February and the middle of March each year.
Notice of Assessment - You will receive this form after you have filed your taxes, typically arriving in May or June each year. Among other things, it summarizes your recently filed tax return as well as your RRSP contribution limits for the upcoming year and is a useful document for tax planning purposes.
Personal Tax Return Deadline for the 2017 tax year in Canada is May 1, 2018
Tax Return Deadline if You are Self-employed or the spouse or common-law partner of someone who is, the deadline to file your 2017 income tax and benefit return is midnight on June 15, 2018. Any taxes payable are still due by May 1, 2018 but you will not be charged a penalty for late filing if the tax return is submitted by June 15. However, you will be charged interest on any unpaid taxes owing.
RRSP Contribution Deadline for the 2017 tax year is March 1st, 2018
Deadline to Convert an RRSP to a RRIF for persons born in 1946 is December 31, 2017. It is strongly recommended that this conversion takes place earlier in the year (2 months in advance is recommended) to ensure the process is completed by the December 31st deadline. Failure to do so could result in the complete de-registration of the RRSP as well as a hefty income tax bill.
First RRIF Withdrawal Payment must be made by the end of the calendar year following the year in which the RRSP was converted to a RRIF. If an RRSP is converted to a RRIF at any time during 2017 the first payment must be made by December 31, 2018. Minimum RRIF withdrawal rules apply.
Eligibility for TFSA Contributions for the 2018 tax year is January 1, 2018. There is no deadline for TFSA contributions. Any past contributions that have been missed can be made at any time.
Eligibility for TFSA Re-contributions of Withdrawals is January 1st of the year following the withdrawal. For example, any funds withdrawn from a TFSA in 2017 can be re-contributed on January 1, 2018.
Deadline for RESP Contributions for the 2017 tax year is December 31, 2017
Tax Loss Selling of publicly traded stocks, bonds, mutual funds or ETFs for the purposes of claiming a capital loss on your 2017 tax return is December 27, 2017
Income Tax Instalment Payments - If the Canada Revenue Agency (CRA) has determined that you must make quarterly income tax instalment payments, the deadlines are as follows:
- 1st instalment - March 15th
- 2nd instalment - June 15th
- 3rd instalment - September 15th
- 4th instalment - December 15th