2020 is an unusual year. With COVID-19 and a lot of other turbulence going on, it is a good idea to plan your cash flow ahead of time before making big decisions such as taking risks in a volatile stock market.
Therefore, we summarized the tax compliance deadlines that are relevant for filing your 2020 personal taxes:
- January 30, 2021 – Deadline for the payment of interest for the prescribed interest loan
- March 1, 2021 – RRSP Contribution deadline
- March 15, 2021 – Due day for the first installment payment for your personal tax
- March 31, 2021 – 2020 Tax filing deadline for family trusts
- April 30, 2021 – 2020 Tax due date and filing deadline for individual without business or rental income
- June 15, 2021 – 2020 filing deadline for individual with business or rental income; due day for the second installment payment for your personal tax
- June 30, 2021 – 2020 filing deadline for non-resident with Canadian rental income
- September 15, 2021 – Due day for the third installment payment for your personal tax
- December 15, 2021 – Due day for the fourth installment payment for your personal tax
Need more information about what tax filing strategies best fit your situation? Speak to a partner of our firm to find out!