Staying on top of corporate tax deadlines in Canada for 2025 is key to keeping your business running smoothly and avoiding late penalties.
With dates shifting based on your fiscal year and specific filing requirements, it’s important to know what’s coming and when.
This guide breaks down the key deadlines business owners need to mark on their calendars so there are no surprises when tax season rolls around.
Key Filing Dates for Canadian Businesses in 2025
Staying ahead of tax deadlines helps businesses avoid penalties and stay in good standing with the Canada Revenue Agency (CRA).
Here’s a breakdown of the key filing and payment dates for 2025:
Corporate Income Tax Return (T2)
Corporations must file a T2 return no later than six months after the end of their fiscal year.
If the last day of your fiscal year is June 30, 2024, your return is due by December 31, 2024.
If your fiscal year-end is December 31, 2024, the deadline falls on June 30, 2025.
Corporate Tax Payment
If your corporation owes taxes, the payment deadline depends on the type of business.
Most corporations must pay their balance within two months of their fiscal year-end, while Canadian-controlled private corporations (CCPCs) that meet specific criteria have up to three months.
Late payments may result in interest charges, so it’s important to submit on time.
GST/HST Filing (Annual)
Businesses that file their GST/HST annually must submit their return and payment no later than three months after their fiscal year-end.
For those operating on a December 31 year-end, the deadline is March 31, 2025.
GST/HST Filing (Quarterly or Monthly)
Quarterly filers must submit their return and payment by the end of the month following the end of the reporting period.
For example, if your reporting period ends on March 31, 2025, your return is due by April 30, 2025.
Monthly filers follow the same structure, with payments and returns due at the end of the month following the reporting period.
Payroll Remittances
The deadline for payroll remittances depends on the size of your payroll and how frequently you remit.
Small businesses typically remit monthly by the 15th of the following month.
Larger employers with more frequent remittance schedules must follow the CRA’s assigned due dates.
T4, T4A, and T5 Slips
Employers and businesses that issue payments to employees or other payees must file T4, T4A, and T5 slips with the CRA and provide copies to recipients by February 28, 2025.
Late or incorrect filings can result in penalties, so it’s important to submit accurate information on time.
Partnership Information Return (T5013)
Partnerships with more than five partners or those required to file based on CRA criteria must submit a T5013 by March 31, 2025.
This return provides details on the income and expenses allocated to each partner.
Trust Income Tax Return (T3)
Trusts must file a T3 return no later than 90 days after the trust’s year-end.
If the trust’s fiscal year ends on December 31, 2024, the deadline for filing is March 31, 2025.
Instalment Payments for Corporate Tax
Corporations that owe more than $3,000 in taxes typically need to make installment payments throughout the year.
The schedule depends on the corporation’s size, with quarterly or monthly payments required in most cases.
Payments are usually due on the last day of each period.
Late Filing Penalties: What Happens If You Miss the Deadline?
Missing a corporate tax deadline can lead to penalties and interest charges that add up quickly.
The Canada Revenue Agency (CRA) applies a late-filing penalty of 5% of the balance owing, plus an additional 1% for each full month the return is late, up to 12 months.
Interest charges also apply to unpaid balances, starting the day after the payment deadline.
Repeated late filings or non-compliance can lead to further consequences, including audits or restrictions on certain tax credits.
Strategies to Stay Ahead of Corporate Tax Deadlines
Keeping up with corporate tax deadlines doesn’t have to be stressful.
Here are some practical strategies to help you stay on track:
- Mark Key Dates Early – Add all tax deadlines to your calendar at the start of the year to avoid last-minute scrambles.
- Keep Financial Records Up to Date – Regular bookkeeping makes it easier to file returns accurately and on time.
- Make Instalment Payments on Time – If your business is required to pay tax installments, setting up automated payments can help avoid interest charges.
- Work With an Accountant – A tax professional can help you navigate deadlines, maximize deductions, and handle compliance.
- File Early When Possible – Submitting returns ahead of time gives you a buffer in case of unexpected issues.
Staying ahead of tax deadlines with tax planning strategies helps your business avoid unnecessary costs and keeps things running smoothly.
How Liu & Associates Can Help with Timely Tax Filing
Staying on top of corporate tax deadlines takes time and attention to detail, but you don’t have to handle it alone.
Liu & Associates provides expert tax planning, filing, and compliance support to help your business meet every deadline without the hassle.
Contact Liu & Associates today to get expert support for your business’s tax needs.