SprottWealth Insights

2015-2016 Personal Tax Guide

The below is meant to give you useful information to assist with your 2016 tax planning. Before employing any tax strategies, please speak with your advisor and/or a qualified tax professional.  For more information, please visit www.cra-arc.gc.ca 

2016 CANADIAN TAX CALENDAR
(Note: if deadline falls on a weekend or public holiday, due date is the next open business day)

FEBRUARY 2016
Feb 29, 2016 Deadline for RRSP contribution for the 2015 tax year
MARCH 2016
March 15, 2016 If you pay in instalments, your first quarterly tax instalment payment is due for the 2016 tax year
APRIL 2016
April 30, 2016 Filing deadline for your 2015 personal tax return
April 30, 2016 Balance owing due date to avoid paying interest
JUNE 2016
June 15, 2016 Second quarterly tax instalment payment is due for the 2016 tax year
June 15, 2016 Filing deadline for self-employed persons’ 2015 tax return
(Note: balance owing is due on April 30, 2016)
SEPTEMBER 2016
September 15, 2016 Third quarterly tax instalment payment is due for the 2016 tax year
DECEMBER 2016
December 15, 2016 Final quarterly tax instalment payment is due for the 2016 tax year
December 31, 2016 For tax-loss selling, ensure the settlement date of the sale is on or before December 31, 2016. Please consult your advisor.
December 31, 2016 Final payment date for amounts that may be claimed as 2016 tax credit or deduction

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