2025 Corporate Tax Deadlines for Business in Canada
Stay updated with current accounting standards, business compliance, tax preparation tips, and latest news.
24 Jan 2025
Does the thought of missing a tax deadline keep you up at night?
As a business owner in Canada, you already juggle a lot - managing operations, ensuring payroll is accurate, and staying compliant with regulations. However, when it comes to tax filing deadlines, even a small oversight can lead to penalties and unnecessary stress.
This is where connecting with a corporate tax accountant can make all the difference. With their guidance, you can avoid costly mistakes and focus on what truly matters - growing your business. Let’s simplify the process and give you clear, actionable information to help you stay on track.
For certain types of income, such as farming or fishing, installment payments are due December 31. For business or professional income, instalments follow these quarterly deadlines:
If your business is registered for GST/HST, the filing deadlines depend on your reporting period:
Payroll Accounts: What You Need to Know
If your business has employees, your remitter type determines how often you need to remit (pay) payroll deductions to the CRA. Your frequency depends on your average monthly withholding amount (AMWA) from two calendar years ago. For example, if you’re remitting for periods when you pay wages or reporting a nil remittance (for seasonal workers), ensure your payments are made on time. If you are not sure about your remitter type then you can find more details on the CRA website.Self-Employed Individuals: Deadlines and Instalments
Are you or your spouse self-employed? Your income tax return for 2024 is due by June 15, 2025, but if you owe taxes for 2024, the payment deadline is April 30, 2025.
For certain types of income, such as farming or fishing, installment payments are due December 31. For business or professional income, instalments follow these quarterly deadlines:
- March 15
- June 15
- September 15
- December 15
Corporations: Filing and Payment Guidelines
Filing deadlines for corporations depends on the end of your tax year. Your T2 corporate income tax return must be submitted within six months of your fiscal year-end. Here are a few examples:- Tax year ends March 31 → Filing deadline: September 30
- Tax year ends November 30 → Filing deadline: May 31
- Regular corporations must pay taxes within two months after the fiscal year-end.
- Canadian-Controlled Private Corporations (CCPCs) get an additional month, provided they meet eligibility conditions.
GST/HST: Staying Compliant
If your business is registered for GST/HST, the filing deadlines depend on your reporting period:
- Monthly filers: File and pay by the last day of the following month.
- Quarterly filers: File and pay within a month after the quarter ends.
- Annual filers: File within three months of your fiscal year-end.
- If your fiscal year ends on December 31, you have until April 30 to pay and until June 15 to file, provided you meet specific conditions.
Special Note: Underused Housing Tax (UHT)
Canada’s Underused Housing Tax (UHT) applies to certain foreign owners of residential property. However, some Canadian individuals and corporations may also need to file a UHT return. If you’re affected, you must file by April 30, 2025, for properties owned as of December 31, 2024, to avoid penalties—even if no tax is owed.Practical Tips to Stay Organized
- Mark Your Calendar: Use reminders for tax deadlines to ensure you don’t miss key dates.
- Consult Experts: Work with corporate tax advisors or a small business tax accountant to get tailored advice.
- Stay Informed: Visit trusted resources like the CRA website for updates.
