Q2 2026 - Important Tax Milestones

Geoff Currier and Evelyn Jacks

Most Canadians think of April 30th as the tax filing deadline and for the typical Canadian that’s true. But you well know that there are multiple dates which are important when it comes to filing tax documents and various payment dates. But April is full of important dates to pass along to your clients – no fooling!

The Backdrop. Some are dates which roll around every month. A few have just recently passed. March 27 was the date for CPP, OAS and GIS benefits payments as well as the Canada Veterans' Disability payment date. In addition there are some late filing issues to start Q2 of 2026:

• March 31 marked the normal tax filing date for trusts with a Dec. 31 year end (other than bare trusts) T3 slips are due on that date, 90 days after year end.
• March 31 was also the deadline for filing Form T1-OVP for excess RRSP, PRPP and SPP contributions. And, it is the deadline for T1E-OVP for excess RESP contributions, and the T1-OVP ALDA normal due date, which is 90 days after year end. 

Looking ahead to April 1 to June 3, the second quarter of 2026, there are several tax filing milestones to note:

Prescribed interest rates: the base prescribed interest rates remain the same for the fourth consecutive quarter:

• 7% - The interest rate charged on overdue taxes, Canada Pension Plan contributions, and employment insurance premiums
• 5% - The interest rate to be paid on non-corporate taxpayer overpayments
• 3% -  The interest rate to be paid on corporate taxpayer overpayments
• 3% - The interest rate used to calculate taxable benefits for employees and shareholders from interest free and low-interest loans

OAS Benefits. There was a tiny raise for seniors 0.1%. The Maximum benefit for ages 65-74 is $743.05 a month for the next three months; $817.36 for those 75 and older. Payment Dates (2026) are April 28, May 27 and June 26. OAS is reduced if 2025 net income exceeds $152,062 for ages 65-74 and $157,923 for those aged 75 and older.

April 2nd is the date for the GST/HST credit payment, now named the Canada Groceries and Essentials Benefit

April 3 is the release of the Official CE Transcript for Grads and Designates and new Course Catalogue and Tuition Guides for new students, Alumni (Prior Grads) and Designates.

April 10 - The OTB (Ontario Trillium Benefit) is due

April 15 - The 15th is an important date on the tax calendar. It is the US tax filing deadline. That pertains to your American clients in Canada who are filing tax forms. Forms 8938 and 4868 are required for these individuals.

April 16 – Look for the Canada Disability payment,

April 20 - CCB payment

April 28 - CPP, OAS and GIS benefits payment.

April 29 - Canada Veterans’ Disability Benefit payment. April 29 is also the date when the Bank of Canada is set to announce its interest rate.

April 30th is the most significant tax filing date for most Canadians. It is the T1 individual tax filing deadline. It is also the deadline for filing your clients’ Foreign Income Verification Statement (form T1135)

• This is also the date for filing a Notice of Objection on the later of one year after filing due date or 90 days are receipt of a Notice of Assessment, Reassessment or Determination. (Form T400A)
• It is also the date for filing a CRA Service Feedback Form (RC193) for a client to submit a complaint or suggestion online at canada.ca/cra-service-feedback.
• For your clients who are working with the estate of a person who died from January 1 to October 31 of the previous year, April 30 is the deadline for filing that individual’s final tax return.
• June 15 – tax filing deadline for T1 returns for proprietors (self-employed). Payment of tax should be made by April 30 however to avoid interest costs.

Something New: The Groceries Essentials and Benefits Credit Top-Up.  A one-time top-up payment equal to 50% of the 2025-26 value of the GST/HST Credit will be issued to eligible recipients of the January 2026 payment of the GST/HST credit no later than June 2026. Be sure to ferret out the procrastination filers to ensure they receive this new benefit.

Bottom Line: It is likely that at least some of your clients will not be aware of these deadlines. It will be up to you to remind them to have all of their proper documentation in order so that you can be certain that you are able to file on their behalf by the appropriate deadline. We can never assume that clients know about all of these dates so some gentle reminders are appropriate.