News Article

The tax filing deadline for proprietors is June 15. Should this be the deadline for all taxpayers?


The deadlines should stay as they are. The investment slips (T3, T5, T5008, T5013, etc.) should be issued by the end of February.
We often have to do refiles in April because our clients get an extra slip for some investment or other.

By Gordon on May 24, 2018

As long as they continue to allow the Investment slip deadline to be Mar. 31st, June might give us enough time to get the information they do not include such as ACB’s…..when will investment people learn that accountants need this information?

By Joanne on May 24, 2018

The accountants would be too busy taking care of every body.

By Shu Chuen Lam on May 23, 2018

No matter what deadlines, the persons who used to file late are still be late.

By Maria Cheng on May 23, 2018

It would be helpful for taxpayers with T3 income and T5013 income to have the June 15 extension as those slips are not required to be issued until March 31 making what are often the more complex returns crammed into the shortest time frame. I would not want all T1s due in June - procrastinators will always wait until the last minute

By Wendy Kruyssen on May 23, 2018

All deferring the deadline will do is drag out tax season longer - the people who are late will still be late.

Instead, tax season should be year round based on some classification like birth date or last name (mind you some people who change their last name to buy themselves time but just put a large fee on that).

By Ken Dreger on May 23, 2018

The longer you give people to file their taxes, the longer they will take.  This just allows everyone to procrastinate their job longer.

By Sherry on May 23, 2018

Absolutely Not - Extending the time frame to file only extends the procrastination.  Regardless of the time frame, refund filers will be up front and paying filers will be at the end.  The taxpayers in the middle will just continue to procrastinate.

What needs to happen is move the T3 & T5013 slip filing deadline to February 28th like everyone else.  In addition, penalize financial institutions that can’t get their act together and put out the information on time, and preferably correct the first time.

By Alan Rowell on May 23, 2018

Since the benefits like CCB, GST starts from July, its is better to follow the same practice as deadline for personal tax return on April 30. Hence there will be enough time for the calculation and other process.

It is better to update CRA with all information slips (T4, T5, T3, etc) before March 1st. So tax everyone get enough time to file their tax return with out any rush/delay.

By Libin Maickadan Paily on May 17, 2018

T3’s need to come out earlier along with the T5’s and keep the April 30 deadline.

By Terry on May 17, 2018

I think they should extend the deadline for personal returns to June 15th and give the business an extended month.  This of course is with no change to when the financial institutions get their slips out to their clients. There needs to be time for people to receive their slips and get them in at a decent time in order to make deadline.

By Jan Sawchuk on May 16, 2018

Having 2 different deadlines spreads the work better but for non June 15 filers the deadline should be May 15.  This would allow more time for T3’s to be received and for CRA to have their data updated.

By Evan on May 16, 2018

I would like to see May 31 as a deadline for all taxpayers.  End of month tends to be easier for people to remember.  The only way it should stay at April 30 is if T3’s and donation receipts are mandated to be issued by February 28 and like someone else said, T5008’s are required to have ACB’s on them.

By Roberta on May 16, 2018

I’d prefer to just get it over so we can go back to our bookkeeping and T2 clients.  However CRA makes life difficult by not having the Feb 28 deadline for all T slips. Now tht we are doing AFR the T5008’s that CRA gets that the client doesn’t get have become in issue.  They issuers of T5008’s should send them to clients and complete the ACB

By Gay Wise on May 16, 2018

The February 28 cutoff for slip filing has to be adhered to.  CRA appears lax about enforcing.  Even If we are preparing using AFR there’s a big risk that we are missing forms.  The clients think it’s our fault when thru receive a reassessment. 

By Michele Lee on May 16, 2018

absolutely not, once filing season is over its nice to get back to working on just corporate tax, estates etc.  the rush would never stop

By Michelle on May 16, 2018

The rules used to allow for sole proprietors to have a ‘natural ’ fiscal period based on the a proper accounting cycle.. this way, thye were not preparing financial statements just to suit CRA administrative purposes.. If your year-end is August 31, you can prepare financial statements in September or October, determine your tax liability at that time and prepare accordingly. The rules were changed to cover certain loophole;s but the government just made things worse. for everyone.

Some suggestions her , such as filing on your birthday, are not practical n my opinion.

Some suggestions are pretty good.  Requiring ACB on T5008s, One deadline perhaps May 15 for everyone makes a lot of sense.

By Enzo on May 16, 2018

Little or no thought was given by anyone who is suggesting a filing date by DOB…How is a family supposed to file correctly when one person is filing in Feb and one in Oct? As well it is hard enough to get people to hang on and collect their recipts now…imagine everyone having different date..What about the overhead, and cost of having to man your office year round. Just does not make sense. Leave the deadline where it is, and force all slips to issued earlier.

By CJ on May 16, 2018

I would like to see ALL income slips have to be issued by February 28.  There is no reason that issuers of these slips can’t have them filed by then.  It should be mandatory that the issuers of these slips mail them out, not making clients login and print them out themselves.  Much higher fines and penalties for issuers not filing slips by deadline.  I have clients not getting their T3 slips until mid April.  Doesn’t leave a lot of time to get tax return completed.
The deadline doesn’t need extended.  Like others have said, some people will show up at the last minute and expect you to drop everything you’re doing, just to get there return completed on time no matter what the deadline is.
To answer the poll question, No, the June 15 filing deadline should not extended for all taxpayers.  Thank you.

By Tim on May 10, 2018

I would prefer a staggered filling date based on the first letter of your last name. Just like renewal of licence plates.

By Jim Lawton on May 10, 2018

The idea of filing on your birthdate is just plan impractical.  Leave the deadline as is but requiring all the slips to be issued earlier would be a much better option.  As for the due date of self employed and their spouse it should remain at June 15th but don’t require them to pay the balance due until June 15th, that would be a lot fairer.

By Gale on May 06, 2018

No. Keep the filing date at April 30. The procrastinators will procrastinate no matter what the filing date might be, then they come in with a stupid grind say, About time to file the taxes, eh? Huh, huh, huh!” What I would like to see is a bit more pressure on the employers to get their T4 summaries etc. to CRA on time and a bit more pressure on CRA to get the things online a bit more promptly. Too many taxpayers have decided that, since the T-slips may be available online, then they don’t need to go and get them from the employer or financial institution or whoever should be issuing them, because they will be online, right? But they may not be, and this becomes a problem with the increasing attitude of taxpayers demanding that everything be done for them without having to lift a finger themselves. So leave the deadlines where they are, get the system running better to time and do something about the disparity between the June 15 filing date for self-employment and the imposition of interest and penalties back to April 30.

By Mitzi-Lynne Morgan on May 03, 2018

More accountability to companies to deliver slips on time and to CRA. There were multi T3s / T5s sent to CRA but only one issued to the tax payer so it was crunching CRAs slips info to match the tax payer. A new tax payer or from a ma and pop operation out of the house may not catch this and overstate their investments. T5008s not sent to tax payers and sent to CRA missing box 20, such a run a round for the tax payer when companies are not providing the service and CRA accepting incomplete slips..why?
The season was short this year but our numbers were still strong showing the tax payer still filed with in the deadline Anyone can use their last pay stub and ask a professional to complete a mock return for RRSP contributions, most tax professionals can file a tax return for that year in December to meet RRSP deadlines, this should be done as a complementary service hoping you will come back.
From a business point of view, keeping April 30 is structure and and business’ need extra time to put their matters in order including the professionals who assist with them.
What should be looked at is allowing business to pay CRA liabilities by June 15th when their returns are complete, crunching small business and adding up receipts on the final days of tax season so busisnes can meet the 30th dead line to pay is a concern, when they do not have to file till the 15th of June.  My concern this past 30th is where were our banks supporting the tax payer? Were any banks opened with extended hours so the tax payer could pay?  Banks were closed at 5 pm or earlier with no regards to supporting the tax payer on this day!! Our government should make this mandatory. I agree with on line banking and my client list is 4800 strong and there is a high percentage that still depend on the bank to make sure the CRA is paid.
I do not think that we should change the filing date but I agree with improving the flow of service, and improving opportunities to make tax filing work for all parties involved: the tax industry, CRA, and the tax payer, not in any order.

By Ann Laurin on May 03, 2018

Here’s a radical thought…maybe the filing deadline could be tied to an idividual’s birthdate; T1 due on DOB or 30 days after birthdate.
More consistent cash flow for the government, more consistent sleep for tax preparers.
I agree with David Lando, sole proprietors have to pay any debt owing by April 30th yet don’t need to file.

By Kathryn Catlin on May 02, 2018

Changing the date will just let people put it off longer, never will change that. What would help is extending the deadline for the partner of business owners to June 15th so they can be done together without the owner being rushed.
Another thing that would really help is setting a deadline for when T5’s need to be sent out, that is a legitimate detail that can hold up filing and it makes no sense.

By Lisa Zach on May 02, 2018

.Letting investment companies issue T3s, T5s and T5008s at the end of March put a major stress on getting T1s filed by April 30th.

By Bob Kelley on May 02, 2018

The deadline date really doesn’t matter. It has been my experience that those who wait until just before the deadline will simply wait until just before the new deadline, or just after.

Getting all of the ancillary players to submit their data on time, or earlier, would be a more beneficial pursuit. And, I agree with Dovid, paying before the return is due seems backwards, akin to you are guilty until you prove otherwise.

By Lyle Urbanowski on May 02, 2018

More importantly require all slips to individuals to be in mail by January 31st including T3 and T5.

Require ABC on T5008’s

Consider slips for vendors similar to US 1099’s

By Gerry Campbell on May 02, 2018

I’d like to see the ability to contribute to an RSP up until when your taxes are filed. It would encourage a better discussion about investing in the RSP and reducing your tax bill and would encourage a real-time discussion about it.

By Jason DeJean on May 02, 2018

The whole tax filing ” season ” has been based all taxpayers across the country, and some sort of consistency so every one follows the same drummer. What Corporations are going to stop running their businesses to make sure you have your T4 or T5 or T3 or T4RIF on your birthday or because the weather is bad, delay issuing slips for a day or 2.
Get real people ! You entered this profession to help clients deal with Income tax, and how to avoid being overtaxed by claiming all the deductions and ” loopholes ” afforded you in the Act.
This opinion poll has become a ” Cry me a river soapbox ” that does not advance our profession in the slightest.
If you want to help our profession, attend sessions to lobby CRA on items that could make your work less stressful, such as changing the filing date for T slips to be March 31st for them all, and extending the T1 filing date to May 31 to compensate.
Now that would be progress !!
I’ll step down now.

By Ken on May 02, 2018

Make the tax filing due date May 31 for both employed and self-employed

By Kathleen Sugar on May 02, 2018

With the e-filing date being delayed and not so great weather in April, some of our tax clients seemed to come in later than normal. Definitely made for the absolutely busiest last three weeks ever!  Even though May Day has become one of my favourite days of the year, it would definitely be better that tax season be longer. Even better would be staggering the season over the whole year (kind of like driver’s licenses).

By Diane on May 01, 2018

Idea: Tax deadline is due by your birthdate. This would make filing not much as a rush. And can provide year round income force tax preparers.

By Michael Ford on May 01, 2018

As long as the benefit year starts in July, the deadline needs to be early enough for all the information to be processed. I wouldn’t mind if the deadline was a little later, maybe May 15th.
If there is one thing i would change is the fact that self employed must pay by April 30th, even though they don’t need to file. This seems incongruous.

By Dovid Lando on May 01, 2018