CRA Deadlines: A Checklist for RC, RT, RP Accounts & More

Staying on top of CRA deadlines is essential for Canadian businesses to avoid penalties and ensure compliance. Whether it’s corporate income tax, GST/HST, payroll deductions, or year-end reporting like T4, T5018, or WCB annual returns, meeting these deadlines is crucial to keep your business running smoothly. In this blog, we’ll walk you through a comprehensive checklist to help you stay organized and ensure all your CRA obligations are met on time.

1. Corporation Income Tax (RC)

• Filing Deadline: 6 months after the corporation’s fiscal year-end.

• Payment Deadline: 2 months after the corporation’s fiscal year-end (3 months for Canadian-controlled private corporations that meet the small business deduction requirements).

  
  

Action Steps:

• ☐ Prepare year-end financial statements.

• ☐ File T2 Corporation Income Tax Return.

• ☐ Ensure any balance owing is paid by the deadline.

  
  

2. GST/HST Return (RT)

• Annual Filers:

  • Filing Deadline: 3 months after fiscal year-end.

  • Payment Deadline: Same as filing deadline.

• Quarterly Filers:

  • Filing Deadline: 1 month after the end of each fiscal quarter.

  • Payment Deadline: Same as filing deadline.

• Monthly Filers:

  • Filing & Payment Deadline: 1 month after the end of each month.

    
    

Action Steps:

• ☐ Gather all sales invoices and GST/HST collected.

• ☐ Record input tax credits (ITCs) for GST/HST paid.

• ☐ File the GST/HST return online.

• ☐ Make payment if GST/HST is owing.

  
  

3. Payroll (RP)

• Payroll Remittance (Monthly/Quarterly):

  • Monthly Remitters: Remittance due by the 15th of the month following the pay period.

  • Quarterly Remitters: Remittance due by the 15th of the month following each quarter (if eligible).

• Payroll Remittance (Accelerated Remitters):

  • Threshold 1 (Total average monthly withholding $15,000 - $49,999):

    • Due by the 25th of the month for the first 15 days of the month, and by the 10th of the following month for the second half.

  • Threshold 2 (Total average monthly withholding $50,000 or more):

    • Due within 3 business days after the end of each pay period.

• T4/T4A Slips and Summary:

  • Filing Deadline: Last day of February of the following year.

    
    

Action Steps:

• ☐ Record employee payroll deductions (CPP, EI, income tax).

• ☐ Remit payroll deductions to the CRA based on your remitter status.

• ☐ Prepare and submit T4/T4A slips and summary to CRA.

• ☐ Distribute T4/T4A slips to employees/contractors by the end of February.

  
  

4. T5018 Slips (Statement of Contract Payments)

• Filing Deadline: Last day of February of the following year (for construction industry).

  
  

Action Steps:

• ☐ Gather all contractor payment information for the year.

• ☐ Prepare and submit T5018 slips and summary.

• ☐ Provide T5018 slips to contractors.

  
  

5. WCB Annual Return

• Filing Deadline: Varies by province, but generally by the end of February or March (e.g., in Alberta, by the last day of February).

  
  

Action Steps:

• ☐ Gather payroll information for the year.

• ☐ Submit the WCB annual return to your provincial Workers' Compensation Board.

• ☐ Ensure any outstanding premiums are paid.

  
  

General Tips:

• Mark your calendar with key deadlines for each client.

• Automate reminders for payment deadlines and filings.

• File online where possible to avoid delays.