NumberKrafters

Key Tax Dates to Remember:

Tax Slip Arrivals and Contribution Deadlines

·  December 31, 2024: Last day to contribute to your First Home Savings Account (FHSA).

·  January 24, 2025: RRSP contribution receipt issued for contributions made between March 1 and December 31, 2024.

·  February 24, 2025: Tax filing season officially opens.

·  February 28, 2025: Deadline for issuing T4RSP slips (RRSP income) and T5 slips (investment income).

·  March 3, 2025: Last day to contribute to your RRSP for the 2024 tax year.

·  March 7, 2025: Realized gain/loss reports for cryptocurrency transactions issued.

·  March 18, 2025: RRSP contribution receipt issued for contributions made between January 1 and March 3, 2025.

·  March 31, 2025: Deadline for issuing T3 slips (trust income).

General Personal Tax Deadlines

·  February 29, 2024: Contribute to your RRSP, PRPP, or SPP for the 2023 tax year.

·  April 30, 2024: File your 2023 personal tax return and pay any balance owed.

·  June 15, 2024: Extended filing deadline for self-employed individuals and their spouses (balance owing still due April 30).

Instalment Payment Deadlines

·  March 15, 2025

·  June 15, 2025

·  September 15, 2025

·  December 15, 2025 (next business day if it falls on a weekend).

Corporate Tax Deadlines

·  File within six months of your fiscal year-end. Example: If your fiscal year ends on December 31, 2024, your corporate tax return is due by June 30, 2025.

Why These Dates Matter for Small Businesses

Missing tax deadlines can lead to penalties, interest charges, and a strain on your business’s financial health. Keeping track of these dates ensures you remain compliant and can take advantage of available deductions and credits.

Pro Tip: Stay Organized

Review and reconcile your business accounts monthly to catch discrepancies early and ensure your financial records are accurate. Staying on top of this simplifies tax filing and provides a clear picture of your cash flow.

Don’t let tax season overwhelm you. Contact NumberKrafters today for expert assistance in managing your business’s financial health. Schedule a consultation to ensure you’re on track for a stress-free tax season. Let’s build financial confidence together!