Deadlines & penalties

Every date that matters — and what missing one costs

Two dates do most of the work: the day your return is due, and the day your money is due. They are usually the same day, and the exception catches people out every year.

The rule that surprises the self-employed

Filing by June 15 is an extension on the paperwork only. Any balance owing was still due April 30, and interest starts running on May 1 whether or not your return has been filed.

The 2026 tax year, in order

Dec 15, 2026

Final 2026 instalment

Only if the CRA asked you to pay instalments — generally when you owed more than $3,000 at filing in the current year and in one of the two prior years.

Dec 31, 2026

Last day for most claims

Donations, medical expenses, childcare, tuition paid, and TFSA contributions all count by calendar year. Also the day your province of residence for the whole year is fixed.

Late Feb 2027

NETFILE opens · slips arrive

Employers and issuers must have T4, T4A, T5 and similar slips to you by the end of February. If something is missing by early March, ask the issuer directly — don't guess.

Mar 1, 2027

RRSP contribution deadline

The last day a contribution can be deducted on your 2026 return. (Feb 28, 2027 is a Sunday, so it moves to the Monday.) Contributions made in January and February 2027 can be claimed for 2026 or held for 2027.

Apr 30, 2027

File and pay — almost everyone

Return due for employees, retirees, students and investors. Balance owing due for every individual, including the self-employed. April 30, 2027 is a Friday, so it does not shift.

Jun 15, 2027

Self-employed filing deadline

Applies if you or your spouse or common-law partner had self-employment income. Filing only — see the note above about payment.

Jul 2027

Benefits recalculate

The Canada Child Benefit, GST/HST credit and Ontario Trillium Benefit for July 2027 to June 2028 are based on your 2026 return. File even with no income, or the payments stop.

Instalments

Mar 15 · Jun 15 · Sep 15 · Dec 15

Quarterly, for people whose tax isn't withheld at source — the self-employed, landlords, and retirees with investment income.

What being late actually costs

Two separate charges: a penalty for filing late, and interest for paying late.

Late-filing penalty

5% + 1%/month

5% of your balance owing, plus 1% for each full month the return is late, to a maximum of 12 months. If the CRA charged you this penalty in any of the three previous years, it doubles to 10% plus 2% a month for up to 20 months.

Interest

Daily, compounded

Charged on any unpaid balance from May 1, at the CRA's prescribed rate, which is reset quarterly. Interest is also charged on the penalty itself.

If you're owed a refund

No penalty

There's no penalty for filing late when you owe nothing — but benefits like the CCB and GST/HST credit can be interrupted, and you're lending Ottawa your money for free.

Can't pay? File on time anyway.

Filing on time and paying late costs you interest. Filing late and paying late costs you interest and a penalty that starts at 5% of the whole balance. Once the return is filed you can arrange a payment plan with the CRA, and in genuine hardship cases you can ask for penalties and interest to be cancelled under taxpayer relief.

Other deadlines that come up

Changing a return you already filed

You can generally adjust a return for the 10 previous calendar years, through Change my return in CRA My Account or a T1-ADJ. Wait for your notice of assessment before adjusting.

Disputing an assessment

A notice of objection is due within 90 days of the date on the notice of assessment or reassessment — or one year after the filing due date, whichever is later.

A final return after a death

Death between January 1 and October 31: the final return is due April 30 of the following year. Death in November or December: six months after the date of death.

Years you never filed

There is no deadline to catch up, and coming forward voluntarily before the CRA contacts you is almost always cheaper. The Voluntary Disclosures Program can reduce penalties on unreported income.

Behind on a few years?

It is a routine job, not a confession. We reconstruct the years, file them in the right order, and deal with the CRA on penalties.

Talk to a CPA