First Quarter
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January 15
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Deadline for employees who acquired qualified publicly listed shares under employee stock-option plans in 2013 to file a letter indicating their intention to defer related benefits.
Deadline for employers to remit Ontario employer health tax (EHT) instalment covering December 2023.
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January 30
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Pay intra-family loan interest related to previous taxation year, to avoid income attribution.
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February 14
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Reimburse employer for company car operating costs, to reduce operating benefit for the previous calendar year (optional).
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February 15
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Deadline for employers to remit Ontario Employer Health Tax (EHT) installment covering January 2024.
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February 28
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Last day to report personal use for previous calendar year if personal distance travelled was not greater than 20,000 kilometres and at least 50 per cent of the distance was for business purposes, in order to reduce standby charge for company car (optional). For practical purposes, however, taxpayers who choose to make this report should really do so by mid-February.
Last day to issue T4s, T4As and T5s to persons and CRA.
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March 02
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Last day to make personal and spousal RRSP contributions applicable to previous taxation year.
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March 15
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First quarter installment due from taxpayers who are required to remit quarterly.
Deadline for employers to remit Ontario Employer Health Tax (EHT) installment covering February 2024.
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March 31
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File Trust Income Tax Return for trusts with a December 31 year-end.
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Second Quarter
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April 15
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Deadline for employers to remit Ontario employer health tax (EHT) instalment covering March 2024.
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April 30
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File personal income-tax return for previous taxation year and remit balance due, if any, to CRA.
File GST rebate application for employee-related expenses deducted in previous taxation year.
Personal Income Tax Return due for most individuals (except self-employed individuals and their spouses). Balance due, if any, must be paid today to avoid interest charges.
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May 15
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Deadline for employers to remit Ontario Employer Health Tax (EHT) installment covering April 2024.
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June 15
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Second quarter instalment due from taxpayers who are required to remit quarterly.
Due date for personal tax returns of individuals with self-employed business income, or spouses/common-law partners of taxpayers with self-employed business income. (Payment of tax balance still due April 30, 2024.)
Deadline for employers to remit Ontario employer health tax (EHT) instalment covering May 2024.
??? Did You Know ...
That even if you are not able to pay your tax balance due, file your tax return on time anyway
(June 15 2024 for self-employed individuals and their spouses, April 30, 2024 for others) to avoid the late filing penalty?
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Third Quarter
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July 15
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Deadline for employers to remit Ontario employer health tax (EHT) instalment covering June 2024.
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August 15
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Deadline for employers to remit Ontario Employer Health Tax (EHT) installment covering July 2024.
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September 15
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Third quarter installment due from taxpayers who are required to remit quarterly.
Deadline for employers to remit Ontario Employer Health Tax (EHT) installment covering August 2024.
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Fourth Quarter
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October 15
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Deadline for employers to remit Ontario employer health tax (EHT) instalment covering September 2024.
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November 15
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Deadline for employers to remit Ontario Employer Health Tax (EHT) installment covering October 2024.
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December 15
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Fourth quarter installment due from taxpayers who are required to remit quarterly.
Deadline for employers to remit Ontario Employer Health Tax (EHT) installment covering November 2024.
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December 31
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Annual tax instalment due from individuals whose chief source of income is farming or fishing, and who choose not to remit quarterly.
Deadline for taxpayers age 71 (born in 1953) to ensure 2024 contributions to their own RRSP are made. It is also the deadline for such individuals to convert their RRSPs to either RRIFs or life annuities. (People in that situation should, however, consult a certified general accountant who practises personal financial planning well in advance of that date to discuss the various options available to them).
Deadline for taxpayers who qualify to have the operating-cost benefit with respect to an automobile used for employment, calculated as half the amount of the annual standby charge, to notify their employer in writing of such intentions.
Ensure tax-deductible fees (e.g., accounting, investment counsel, interest carrying charges and safety-deposit box), expenses, (e.g., employee-related moving expenses) and credits (e.g., for charitable donations and medical expenses) for the current taxation year have been paid.
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