The following calendar shows the principal dates of the Income Tax Act and Regulations that govern the collection of federal income tax (including withholding, remittance, refund, assessment and objection) and the filing of tax information (including information returns, tax returns and common elections applicable to individuals). If one of the dates falls on a Sunday or other holiday, it is extended to the next business day by virtue of section 26 of the Interpretation Act.


Monthly Requirements

10th -- Date by which employers with an average
monthly withholding of $15,000 or more
but less than $50,000 (for the second
calendar year preceding a particular
calendar year) must remit the income
tax withheld from the renumeration paid
after the 15th of the previous month
(ITR s. 108(1.1)(a)(ii) .................. ¶22,340

15th -- Date by which employers with an average
monthly withholding of under $15,000
must remit the income tax withheld from
the remuneration paid for the previous
month (ITR s. 108(1)) .................... ¶22,340

25th -- Date by which employers with an average
monthly withholding of $15,000 or more
but less than $50,000 (for the second
calendar year preceding a particular
calendar year) must remit the income
tax withheld from the remuneration
paid before the 16th of the current
month (ITR s. 108(1.1)(a)(i)) ............ ¶22,340

Last day -- Date by which corporations must make their
income tax instalments (no instalments are
required if a corporation's first instalment
base or total taxes payable under Parts I,
I.3, VI, VI.1 and XIII.1 of the Act are
$3,000 or less)
(ITA s. 157(1) and 157(2.1)) ............. ¶22,700


Quarterly Requirements

15th -- (March, June, September, December) -- Dates
by which income tax instalments must be
made by individuals whose expected tax
liability for the current year or each
of the 2 preceding years exceeds their
source deductions by a certain amount
($1,200 of federal income tax for a
Quebec resident or $2,000 of combined
federal and provincial income taxes for
a non-Quebec resident. For 2008, the 2007
Federal Budget proposes to increase those
two limits to $1,800 and $3,000 respectively.)
(ITA s. 156(1) and 156.1(2)(b)) .......... ¶22,672

15th -- (April, July, October, January) -- Dates
by which employers who have an average
monthly withholding of less than $1,000
(for either the first or second preceding
calendar year) and no compliance irregu-
larities for the preceding 12 months must
remit the income tax withheld from the
remuneration paid for the previous quarter
(ITR s. 108(1.12)) ....................... ¶22,340

Last day of Date by which a Canadian-controlled private
fiscal quarter -- corporation may pay its tax instalments if:
(1) It has a perfect compliance history;
(2) It claimed the small business deduction
in the current or previous year; and (3) It
had a taxable capital employed in Canada of
$10 million or less and a taxable income of
$400,000 or less in the current or previous
year.

Annual Calendar

Jan. 15 -- Date by which employees having exercised in
the previous year an option to acquire their
employer's stocks or mutual fund trust units
must file their election to defer the
recognition of their employment benefit from
the year the securities are required to the
year they are sold
(ITA s.7(8) and (10)) .................... ¶2757

Feb. 14 -- Date by which employees must reimburse their
employer for all the operating costs
incurred in the previous year for the
personal use of an employer-provided
automobile. Otherwise, an automobile
operating cost benefit will be included
in their income (ITA s. 6(1)(k)) ......... ¶2392a

Feb. 29 -- Last day for individuals to make their RRSP
contribution for a year preceding a leap
year (ITA s. 146(5)) ..................... ¶21,249

Feb. Date by which a T4, T4A or T4A-RCA information
(last day) return reporting an employee's remuneration and
benefits is due (ITR s. 200 and 205(1)) .. ¶22,035; ¶22,045


Date by which a T4A information return
reporting patronage payments is due
(ITR s. 205(1) and 218) .................. ¶22,045; ¶22,071

Date by which a T4RSP information return
is due. The T4RSP is used to report
amounts included in a taxpayer's income
under an RRSP, an HBP or an LLP (ITA
s. 146, 146.01 and 146.02; ITR s. 205(1)
and 214) ................................. ¶22,045; ¶22,063

Date by which a T4RIF information return
is due. The T4RIF is used to report
amounts included in a taxpayer's income
under a RRIF (ITA s. 146.3; ITR s. 205(1)
and 215) ................................. ¶22,045; ¶22,065

Date by which a T5 information return
reporting interest, dividends and other
investment income is due (ITR s. 201
and 205(1)) .............................. ¶22,037; ¶22,045

Date by which a T5008 information return
reporting proceeds paid in respect of
securities transactions (mostly dispositions)
is due (ITR s. 205(1) and 230) ........... ¶22,045; ¶22,085

Date by which a T5003 information return
reporting the acquisition of an interest
in a tax shelter is due (ITA s. 237.1(7),
(7.1) and (7.2)) ......................... ¶27,657; ¶27,657a; ¶27,657b

March 1 -- Last day for individuals to make their RRSP
contribution for a year preceding a
non-leap year (ITA s. 146(5)) ............ ¶21,249

Mar. 31 -- Date by which an NR4 information return is
due. The NR4 is used to report income
like interest, dividends, royalties, trust
income etc. paid to or received for the
account of non-residents in the preceding
calendar year (ITA s. 212; ITR s. 202(1),
(2) and (7)) ............................. ¶22,039

Date by which a T1-CP information return
reporting the ownership of an interest
in a certified film or video tape is due
(ITR s. 225) ............................. ¶22,080

Date by which a T5013 information return
prepared for a partnership composed
exclusively of individuals or considered
to be a tax shelter is due
(ITR s. 229(5)(b)) ....................... ¶22,084

Apr. 30 -- Date by which the balance of tax owed by any
individual (including one having until June 15
to file his/her T1 income tax return) is due
(ITA s. 156.1(4) and
248(1) "balance due day") ................ ¶28,020b; ¶22,698

Date by which individuals not carrying on a
business in the year and whose cohabiting
spouse or common-law partner is not carrying
on such a business either must file their
T1 income tax return
(ITA s. 150(1)(d)(i)) .................... ¶22,003; ¶22,009

June 15 -- Date by which individuals carrying on a
business in the year or whose cohabiting
spouse or common-law partner is carrying on
such a business must file their T1 income
tax return (ITA s. 150(1)(d)(ii)) ........ ¶22,003; ¶22,009

June 30 -- Date by which the T2 income tax return of a
corporation operating on a calendar-year
basis is due (ITA s. 150(1)(a)) .......... ¶22,003; ¶22,009

Dec. 31 -- Date by which the income tax instalment
payable by a farmer or fisherman for a
particular year is due. The instalment is
only required if the farmer's or fisherman's
net tax owing for the particular year or
either of the 2 preceding years exceeds
$1,200 of federal income tax for a Quebec
resident or $2,000 of combined federal and
provincial income taxes for a non-Quebec
resident. For 2008, the 2007 Federal Budget
proposes to increase those two limits to
$1,800 and $3,000 respectively.
(ITA s. 155(1) and 156.1(2)(a)) .......... ¶22,652; ¶22,696


Contingent Calendar

The principal tax requirements which do not fall upon fixed dates but are instead
related to some other event or duty are listed below under two categories: tax collection
and tax filing.


Tax Collection

Employers with an average monthly withholding of
$50,000 or more (for the second calendar year preceding
a particular calendar year) must remit the income tax
withheld from the remuneration paid in each of the
following periods within 3 days (excluding Saturdays
or holidays) from each period: (i) the first 7 days of
the month; (ii) the period after the 7th and before the
15th day; (iii) the period after the 14th but before the
22nd day; and (iv) the part of the month after the
21st day (ITR s. 108(1.1)(b)) ............................ ¶22,340

Employers required to remit their deductions twice a
month by virtue of ITR s. 108(1.1)(a)
or four times a month by virtue of
ITR s. 108(1.1)(b) may elect to remit
them only once a month or twice a month respectively if
they qualified for this decelerated remittance in the
immediately preceding year (ITR s. 108(1.1)(b)) .......... ¶27,190

Employers ceasing to carry on their business on a given
date have only seven days after that given date to remit
their deductions (ITR s. 108(2)) ......................... ¶22,340

Taxpayers owing amounts of taxes, interest or penalties
may be informed, by a registered letter sent by the Minister
to their last known address, that their goods, chattels or
moveable properties will be seized and sold unless those
amounts are paid within 30 days (ITA s. 225) ............. ¶27,190

Taxpayers owing amounts of taxes, interest or penalties
and leaving (or intending to leave) Canada may be asked,
by a notice served personally or a registered letter sent
by the Minister to their last known address, to pay those
amounts immediately (ITA s. 226) ......................... ¶27,231

Taxpayers having filed a tax return within 3 years from
the end of a taxation year have 3 years from the earlier of
the mailing date of the original notice of assessment or
notification that no tax is payable to apply for a refund.
Under the "fairness provisions", the Minister may decide
to grant the refund beyond the 3-year period (i.e., within
10 years from the end of the taxation year). Effective April 1,
2007, no refunds will be made unless all the returns required
under the Income Tax Act, the Excise Act, 2001,
the Excise Tax Act and the Air Travellers Security
Charge Act were filed by the taxpayer
(ITA s. 152(3.1), 152(4), 164(1)(a)(iii),
164(1)(b), 164(1.5), 164(2.01) and 164(7)) ............... ¶22,216; ¶22,220; ¶22,896; ¶22,893ba; ¶22,894a; ¶22,920

Taxpayers holding amounts of unclaimed dividends,
interest or sales proceeds, at the end of their taxation
year for the account of unknown beneficial owners, must
withhold and remit a tax on those amounts within 60 days
from the end of the taxation year (ITA s. 153(4)) ........ ¶22,578

Taxpayers objecting to an assessment must generally
mail their notice of objection within 90 days from the
mailing date of the notice of assessment. For individuals
other than trusts and testamentary trusts, notices of
objection from assessments concerning Part I and I.2 taxes
must be mailed on or before the later of 90 days after
the mailing of the notice of assessment or one year after
the taxpayer's filing-due date for the year
(ITA s. 165(1)) .......................................... ¶23,021a

Taxpayers appealing to the Tax Court of Canada must
serve their notice of appeal within 90 days from the
mailing date of the reassessment or confirmed assessment,
or after 90 days have elapsed from the mailing date of
the notice of objection if the Minister never replied to
that notice (ITA s. 169(1)) .............................. ¶23,250

Taxpayers receiving a notice of assessment showing an
amount of tax assessed but remaining unpaid must pay
the remainder immediately (ITA s. 158) ................... ¶25,310

Taxpayers with interest refunds and interest arrears have
90 days after the latest of the following dates to apply for
an offset of the two amounts: (1) mailing dates of original
notices of assessment giving rise to the interests; (2) mailing
dates of Minister's notifications where notices of objection
were filed; and (3) issue dates of court decisions if appeals
were filed (ITA s. 161.1(2) and (3)(c)) .................. ¶22,845f; ¶22,845g

The Minister has 3 years after the mailing of a notice
of original assessment for an individual or Canadian-
controlled private corporation (CCPC) and 4 years for a
mutual fund trust or corporation other than a CCCPC to
reassess a taxpayer
(ITA s. 152(3.1) and 152(4)) .............................. ¶22,316; ¶22,220

The Minister must wait 90 days after the mailing of the
notice of assessment to commence actions to collect a tax debt
(ITA s. 225.1(1) and (1.1)) .............................. ¶27,207; ¶27,207a

The Minister has 10 years from the day that is 90 days
after the mailing of the notice of assessment concerning a tax
debt to commence an action to collect the tax debt but this
10-year period can be restarted in certain circumstances
(ITA s. 222) ............................................. ¶27,090

The Minister must wait 90 days after the mailing of the
notice of assessment to commence certain actions to collect
a tax debt (ITA s. 225.1(1) and (1.1)) ................... ¶27,207; ¶27,207a

The Minister has 2 years after an individual has ceased
to be a director of a corporation to commence an action to
recover amounts that were not deducted or remitted by the
corporation (ITA s. 227.1 (4)) ........................... ¶27,318

Corporations with a balance of tax due after having paid
their instalments must pay the balance within three months
after year-end for Canadian-controlled private corporations
who claimed the small business deduction in the current year
or preceding year and within two months after year-end for
other corporations (ITA s. 157(1) and 248(1)
"balance due day") .................................. ¶22,700; ¶28,020b

Trusts governed by a deferred profit sharing plan
that acquire a non-qualified investment or use a trust
property as a security for a loan must pay the Part X
tax within 10 days from the day of acquisition or
use (ITA s. 198(2)) ...................................... ¶25,310


Tax Filing

Registered charities must file a T3010A information
return within 6 months from the end of their fiscal
period (ITA s. 149.1(14)) ................................ ¶21,944

Corporations must file a T2 income tax return within
6 months from the end of their taxation year if they
have Part I tax payable for the year or if, at any time
in the year, they are resident in Canada, carry on business
in Canada, have a taxable capital gain or dispose of
a taxable Canadian property (ITA s. 150(1)(a)) ........... ¶22,003

The legal representative of a deceased taxpayer must
file his/her T1 return (1) by the return's normal filing
due date if the death is before November; (2) by the later
of the normal filing due date and six months after the date
of death if the death is after October but before that
filing due date (ITA s. 150(1)(b)) ........................ ¶22,003

Taxpayers ceasing their business activities must file
the T3, T4, T5, T5008, NR4 and other information
returns required under Part II of the Income Tax
Regulations within 30 days from the cessation of those
activities (ITR s. 205(2)) ............................... ¶22,045

Trustees, estate administrators or any other persons
controlling and receiving trust income (including interest,
dividends, capital gains or other profits) in a fiduciary
capacity for the account of trust beneficiaries must file a
T3 information return within 90 days from the end of the
trust's taxation year. The 2007 Federal Budget proposes
to review this deadline to give adequate time to the trusts
to compute their income and give more time to the trust
beneficiaries to prepare their tax return by having the T3
slips issued earlier (ITR s. 204) ........................ ¶22,043

A T600 Ownership Certificate must be filed on or before
the 15th day of the month following the month of payment
or negotiation by: (1) a financial company paying accrued
interest on transfers of bonds, debentures or similar
securities; (2) a debtor or encashing agent negotiating
bearer coupons or warrants representing interest or
dividend paid by any debtor or cheques representing
interest or dividend paid by a non-resident debtor
(ITA s. 234 and ITR s. 207 and 211) ...................... ¶22,049; ¶22,057; ¶27,580

Electric, gas or steam corporations must file an
information return within 6 months from the end of their
taxation year (ITR s. 213) ............................... ¶22,061

Registered amateur athletic associations must file a
T2052 information return within 6 months from the end
of their fiscal period (ITR s. 216) ...................... ¶22,067

Corporations and trusts wanting to certify for a
taxation year that their shares, units or interests are
qualified investments must file a T3F information return
within 90 days from the end of their taxation year
(ITA s. 146(1), 146.3(1), and 204; ITR s. 221) ........... ¶22,076

Partnerships composed exclusively of corporations
must file a T5013 information return within 5 months
after the end of their fiscal period; those composed
exclusively of individuals must file it on or before
March 31 of the calendar year following the
calendar year in which their fiscal period ends; those
composed of both individuals and corporations must file
it on or before the earlier of 5 months after the end
of their fiscal period and March 31 of the calendar
year following the calendar year in which their fiscal
period ends
(ITR s. 229(5)(a), (b) and (c)) ......................... ¶22,084

Partnerships discontinuing their business must file
the T5013 on or before the earlier of their normal filing
due date and 90 days after the discontinuance of their
activities
(ITR s. 229(5)(a), (b), (c) and (6)) ..................... ¶22,084

Corporations renouncing their Canadian exploration
or development expenses for the benefit of investors
having bought their flow-through shares must file a
T101A information return before the end of the first
month after the month in which the renunciation was
made (ITA s. 66(12.7)) .................................... ¶8967




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