Filing deadlines are non-negotiable with The Canada Revenue Agency. It is your responsibility to file on time, everytime. GST, RST (PST), Payroll, and Tax returns, all have different reporting periods and payment deadlines. Take the time to note both! Consider setting reminders in your calendar.
GST
MONTHLY AND QUARTERLY Return is due to be filed, and payment received, one month after the end of reporting period
ANNUAL (December 31 year end) Return is due to be filed by June 15. Payment is to be received by April 30
ANNUAL (Odd Fiscal year end) Return is due to be filed, and payment received, 3 months after fiscal year end
PAYROLL
MONTHLY Reporting Period: Calendar Months Filing and Payment Deadline: 15th day of the next month following reporting period.
QUARTERLY First Quarter: January 1 to March 31 Filing and Payment Deadline: April 15 Second Quarter: April 1 to June 30 Filing and Payment Deadline:July 15 Third Quarter: July 1 to September 30 Filing and Payment Deadline:October 15 Fourth Quarter: October 1 to December 31 Filing and Payment Deadline: January 15
THRESHOLD 1 ACCELERATED - Up to twice a month Reporting Period: 1st to 15th of the month Filing and Payment Deadline: 25th day of same month Reporting Period: 16th to end of the month Filing and Payment Deadline: 10th day of the next month
THRESHOLD 2 ACCELERATED - Up to four times a month Reporting Period: 1st to 7th of the month Filing and Payment Deadline: 3rd working day after the 7th Reporting Period: 8th to 14th of the month Filing and Payment Deadline: 3rd working day after the 14th Reporting Period: 15th to 21st of the month Filing and Payment Deadline: 3rd working day after the 21st Reporting Period: 22nd to the last day of the month Filing and Payment Deadline: 3rd working day after the last day of the month
* You are a threshold 2 accelerated remitter if you had an average monthly withholding amount (AMWA) of $100,000 or more two calendar years ago.
INCOME TAX
INDIVIDUAL TAX RETURNS April 30th is the filing and payment deadline.
SELF-EMPLOYED June 15th is the filing deadline but payment deadline is April 30th.
SMALL BUSINESS CORPORATIONS No later than six months after your fiscal year end. Payment is due no later than 3 months after your year end.
MANITOBA RST (PST)
Requirement to register for PST is once annual taxable sales exceed $10,000 per year.
20th of the month Regardless of filing frequency (monthly, quarterly, annually), the return and payments is due on the 20th of the monthly following the reporting period.
PENALTIES
Manitoba RST (PST) – 10% of the tax due. Minimum penalty is $10. Additional penalties for unreported income, neglect, and carelessness can be up to 50% of the tax owing.
GST – 1% plus 0.25% for every month the return is late to a maximum of 12 months
Payroll - The penalty for remitting late is: 3% if the amount is one to three days late 5% if the amount is four or five days late 7% if the amount is six or seven days late 10% if the amount is more than seven days late or if no amount is remitted 20% if you’ve been assessed this penalty more than once in a calendar year.
Income Tax (personal and corporate) 5% of amount due plus 1% for every month late to a maximum of 12 months 10% of amount due plus 2% for every month late to a maximum of 20 months if your return has been filed late in any of the preceding three tax years.
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