Key Dates for Tax Reporting and Filing in 2021
January 1 New TFSA contribution room and RRSP dollar limits take effect:
- 2021 TFSA dollar limit: $6,000
- 2020 RRSP dollar limit: $26,230
- 2021 RRSP dollar limit: $26,500
Personal Tax Instalment Due Dates:
- March 15 : First quarterly personal tax instalment is due.
- June 15: Second quarterly personal tax instalment is due.
- September 16: Third quarterly personal tax instalment is due.
- December 16: Fourth quarterly personal tax instalment is due.
Other Due Dates:
- January 30: Deadline to pay interest on a family loan at prescribed interest rates to avoid income attribution.
- February 28: Deadline to issue T4s, T4As, and T5s and for issuers of TFSAs to file their annual information returns.
- March 1: Deadline to contribute to an RRSP for the 2018 tax year (including Home Buyers’ Plan/Lifelong Learning Plan repayments).
- April 1: Deadline to file NR4s and T3 trust returns.
- April 15: Deadline to file U.S. individual income tax returns for 2018 or 6-month extension requests; deadline to file 2018 report of foreign Bank and Financial Accounts, FinCEN report 114 (formerly FBAR), for U.S. citizens living in Canada.
- April 30: Deadline to file personal income tax returns for 2018 where the taxpayer or taxpayer’s spouse/common-law partner does not have self-employed business income.
- June 15: Deadline to file personal income tax returns for 2018 where the taxpayer or taxpayer’s spouse/common-law partner does have self-employed business income; deadline to file GST/HST returns for self-employed individuals with a December 31 year-end. Deadline to file 2018 U.S. individual income tax returns for U.S. citizens or resident aliens residing abroad and U.S. non-residents with no withholding tax.
If the deadline falls on a Saturday, Sunday or a holiday, taxpayers have until the next business day to file.
- December 27: Last day to settle trades in calendar year 2019 for Canadian tax-loss selling.
- December 31: Contribution deadline for Registered Education Savings Plans (RESP). Deadline to make charitable donations to be claimed for the 2018 tax year.
For further details on any of these items you can visit the Canada Revenue Agency web site:
Canada Revenue Agency Home Page