Stay on Top of Your Tax Deadlines for 2025

At StiplifyBooks, we understand how important it is to stay on top of your tax filing deadlines. The Canada Revenue Agency (CRA) sets clear deadlines for returns and payments, and meeting them ensures you avoid any unnecessary interest, penalties, or delays in receiving your refund. We’ve compiled all the key tax dates you need to know, so you can breeze through tax season with confidence.

Key Takeaways

• The 2024 tax filing deadline is April 30, 2025, for individuals, and June 16, 2025, for self-employed individuals.
• The CRA’s NETFILE service opens on February 24, 2025.
• Filing late could result in interest, fees, or penalties if you owe taxes.

When Can I File My Taxes in 2025?

Tax Filing Deadline for Individual Returns

For individuals, the tax return deadline for the 2024 tax year is April 30, 2025. If this date falls on a weekend, the CRA will extend the deadline to the following business day.

If you’re ready to file earlier, the CRA will open NETFILE on February 24, 2025, allowing you to submit your return electronically. We can also help you file your taxes. Click Here.

Be mindful that whether you’re filing online or by mail, your return must be received or postmarked by the deadline. If you’re submitting your return electronically, make sure it’s completed by midnight (local time) on the due date.

Tax Filing Deadline for Self-Employed Returns

Self-employed individuals have a slightly extended deadline. You have until June 16, 2025, to file your tax return. However, if you owe taxes, your payment is still due by April 30, 2025.

Key CRA Tax Deadlines in 2025

To help you keep track of important dates, here’s a quick list of deadlines that matter this tax season:

• April 30, 2025 – Deadline for filing individual tax returns and paying any taxes owed.
• June 16, 2025 – Deadline for filing returns for self-employed individuals, sole proprietors, and partnerships.
• June 16, 2025 – Deadline for business owners with a fiscal year that matches the calendar year.

If you’re preparing a final return for someone who has passed away, different deadlines apply based on the date of death.

Business Tax Deadlines for 2025

For business owners, including sole proprietors and partnerships, the CRA requires that returns be filed by June 16, 2025, if your business’s fiscal year follows the calendar year. However, if your business operates on a non-calendar fiscal year, your return is due six months after the end of your fiscal year.

Filing a Final Return for a Deceased Person

If you’re responsible for filing the final tax return for someone who has passed away, the deadlines will depend on the date of death:

• Jan. 1 – Oct. 31: Return due by April 30 of the tax year.
• Nov. 1 – Dec. 31: Return due six months after the date of death.

For self-employed individuals or their spouses/common-law partners who passed away, the filing deadline is extended to June 16, but interest starts accumulating as of April 30.

Penalties for Late Tax Filing

Late Filing for Individuals

If you file your taxes late but are due for a refund or don’t owe any additional taxes, you won’t face penalties. However, if you owe taxes and miss the deadline, you’ll incur a penalty. The penalty is typically 5% of the taxes owed, plus an additional 1% per month for up to 12 months.

Remember, your tax balance is due the same day your return is due. If you cannot pay the full amount, the CRA accepts late payments but charges daily compound interest on any outstanding amount.

Late Filing for Self-Employed Individuals

Self-employed individuals may face additional penalties, especially if they have other filing obligations, such as payroll and GST/HST remittances. Failing to meet these deadlines could result in penalties:

• Failure to deduct: Penalties range from 10% for the first failure to 20% for repeated failures.
• Late filing or non-payment: Penalties start at 3%, and can rise up to 20% depending on how long the payment is overdue.

Due Dates for Installment Payments

If you make installment payments throughout the year, there are four critical due dates you must keep in mind:

• March 15
• June 15
• September 15
• December 15

Whether you’re self-employed or employed, missing these payments can lead to interest charges or penalties.

Filing Your Taxes with Confidence

At StiplifyBooks, we believe in making tax season easier for you, whether you’re filing your taxes on your own or seeking professional assistance. Stay on top of these key dates, and you’ll have everything you need for a smooth and stress-free tax filing experience.

Ready to get started? Ensure you have all the right documents, and you’ll be on your way to filing your taxes efficiently. Start Here Today!