Due date to file a Self-employed tax return
As a self-employed individual, you and your spouse or common-law partner has until midnight on Wednesday, June 15, 2016, to file your 2015 income tax and benefit returns. Any balance owing for 2015 must be paid by April 30, 2016. However, as this date is a Saturday, the Canada Revenue Agency (CRA) will consider your payment to be made on time if the CRA receives your submission or it is postmarked by midnight on May 2, 2016. A late-filing penalty on amounts owing may apply to returns received after the June 15 deadline.
Due date to file a GST/HST return
If your reporting period is monthly or quarterly, you have to file your GST/HST return and pay the amount you owe no later than one month after the end of your reporting period.
If you have an annual reporting period, there are two possible rules, depending on your situation:
- if you are an individual and you have a December 31 fiscal year-end, you have to file your GST/HST return by June 15 and pay the amount you owe by April 30
- in all other cases, you have to file your GST/HST return and pay the amount you owe no later than three months after the end of your fiscal year
Small Business Job Credit
- You may be eligible for a refund of employment insurance premiums paid for 2015 and 2016 under the new Small Business Job Credit
Other important facts
- If you own a business or are engaged in a commercial activity, keep thorough records. Your records have to give enough detail to determine the tax you owe and support any benefits you are claiming, and they must be supported by original documents.