Frequently Asked Questions

In general, the deadline for filing your income tax return and, if applicable, paying your taxes is April 30.

However, if you are self-employed, you have until June 15 to submit your tax return. But beware! Taxes, meanwhile, must still be paid by April 30.

That said, after one or two years of work, self-employed workers generally have to pay installments on a fixed date, 4 times a year, i.e.:
– March 15;
– June 15;
– September 15;
– December 15.

Any shortfall must then be paid no later than April 30 of the following year.

Finally, for those who have incorporated their practice and/or who own incorporated businesses, the personal tax return date remains April 30. The corporate declaration date, on the other hand, depends on the choice that you or your accountant made during the first fiscal year of incorporation. If you are unsure, we invite you to contact us.

• T4 and Relevé 1 employment income;
• T5 or T3 investment income;
• T4RSP or T4RIF if you withdrew from RRSPs or RRIFs;
• T4A scholarship for your studies;
• T4OAS and T4AP or T4A if you withdraw your private pensions;
• T2202 and the RL-8 post-secondary education slip;
• T5007 if you had an accident at work;
• T5007 if you received last resort assistance;
• RL-5 slip if you received accident benefits;
• Relevé 24 childcare expenses for your children;
• RL-31 slip provided by your landlord on December 31;
• Federal notice of assessment for the last year;
• Provincial Notice of Assessment for the last year.

Generally, the required documents and information boil down to these:

• Summary of your assets and debts;
• All recent investment statements (RRSP, TFSA, Other);
• All personal insurance contracts (life, disability, critical illness, etc.);
• Benefits guide, if applicable;
• Most recent Federal Notice of Assessment;
• Identity documents.

If other documents are necessary or could be useful following your meeting with your advisor, the latter will mention them to you.

As a general rule, RRSP contributions made during the year are deductible from the taxable income of that same year or subsequent years, while contributions made in the first 60 days of the year can be deducted from the taxable income of the previous year, current year or subsequent years.

You therefore generally have until March 1 of the following year to contribute to your RRSP for the previous tax year.

This essential task obeys two obligations:

First, it expresses the desire and, above all, the need of the entrepreneur and/or the shareholders of the company to know how the company is performing.

• Does it meet the set objectives?
• Is it evolving or, on the contrary, is it regressing?
• And, is it profitable?

The second obligation is of a legal nature.
Indeed, the law obliges the company to report to the tax authorities. The latter not only want to ensure that society performs, but also that it participates in its fair share in the economic and social activities of the State by assuming the taxes to which the law subjects it. In fact, the execution of accounting books consists of recording each of the operations of the company while it interacts with its customers, suppliers, employees and tax authorities.