Useful perspectives. Practical next steps.

Personal returns

For both the CRA and Revenu Québec, most individuals file and pay any balance by April 30 of the following year. Québec moves the deadline to the next business day when April 30 is a weekend; CRA deadlines can also move for a weekend or CRA-recognized public holiday.

If you or your spouse or common-law partner carried on a business, the personal return is generally due June 15. Any balance owing is still due April 30, not June 15. Filing late can trigger a penalty even if you cannot pay the full balance.

Self-employed payments

Self-employed people may also have quarterly income-tax instalments. CRA dates are March 15, June 15, September 15, and December 15. Instalments are separate from the annual return deadline and depend on your circumstances.

Corporations and fiscal year-end

A corporation generally files its T2 return within six months after its tax year-end, so the due date follows its fiscal year rather than April 30. The remaining corporate balance is generally due two months after year-end. An eligible Canadian-controlled private corporation (CCPC) may have three months if conditions are met. Instalments may be monthly or quarterly. Québec corporations should also account for the separate provincial return and payment rules for the same period.

Individuals: file and pay

For most calendar-year individuals, Form 1040 is due April 15. A fiscal-year individual generally files on the 15th day of the fourth month after the tax year ends. If the 15th falls on a Saturday, Sunday, or applicable legal holiday, the deadline moves to the next business day. [1]

A timely Form 4868 request gives an automatic six-month filing extension. For 2026, the IRS stated that this moves the individual filing date to October 15, 2026. It does not extend the time to pay: estimate and pay the balance by the original due date to reduce interest and penalties. [1] [2]

Common calendar-year entities

A calendar-year partnership generally files Form 1065 by the 15th day of the third month after year-end (normally March 15). A calendar-year S corporation generally files Form 1120-S on the same schedule. A corporation filing Form 1120 generally files on the 15th day of the fourth month after year-end (normally April 15). Fiscal-year entities shift these rules from their year-end, not from January 1. [3]

Form 7004 generally provides an automatic six-month extension for eligible business returns. It extends filing time, not the underlying payment obligation; check the particular return instructions for any tax due. [3]

Exceptions to check

The IRS calendar adjusts ordinary deadlines for federal legal holidays and weekends. A statewide holiday can also delay an individual resident's federal filing deadline, or a filing deadline tied to an IRS office in that state; it does not generally delay a federal tax deposit. [1]

A federally declared disaster, and in some cases an IRS-recognized state-declared disaster, may postpone both filing and payment for affected taxpayers. The relief period and eligible taxpayers are announced by the IRS, so use the current disaster notice rather than assuming the normal date. [4]

Rate follows the place of supply

Current ordinary-supply rates are 5% GST in non-participating provinces and territories; 13% HST in Ontario; 14% HST in Nova Scotia; and 15% HST in New Brunswick, Newfoundland and Labrador, Prince Edward Island and the other participating provinces. Quebec generally has 5% GST plus 9.975% QST. Zero-rated supplies are 0%.

The rate is not automatically your business's rate. For goods, delivery or shipment to the customer usually sets the province of supply: a British Columbia sale delivered to Ontario generally uses 13% HST. Services have separate place-of-supply rules.

Registration: the small-supplier test is qualified

For most businesses, the $30,000 test counts worldwide taxable supplies, including zero-rated supplies, of the business and associates. It covers one calendar quarter and the four preceding quarters. Exceeding $30,000 in one quarter can make registration effective on the crossing supply; exceeding it over four quarters generally ends small-supplier status after the following month. Exempt supplies, financial services, capital-property sales and goodwill are excluded.

This is not a blanket rule. Charities, public institutions and public service bodies have different tests, and some businesses, including taxis, may have obligations regardless of amount. A small supplier may register voluntarily, then must charge and remit tax and may claim eligible ITCs/ITRs.

Filing, remitting and input credits

A registrant files every assigned period, even a nil return. Monthly and quarterly GST/HST returns and payments are generally due one month after period-end. Most annual filers are due three months after year-end; a December 31 sole proprietor with business income generally pays April 30 and files June 15. Quebec registrants can file a combined GST/HST-QST return; net tax is collected tax, including billed tax, less eligible ITCs/ITRs.

An ITC or ITR generally recovers tax on business inputs used in commercial activities. Registration in the relevant period and adequate invoices or evidence are required. Personal-use and exempt-activity costs generally do not qualify; mixed-use costs are usually limited to the commercial portion.

Residency, citizenship, and tax relief

Canada’s T1135 applies to Canadian residents who own specified foreign property costing more than CAD 100,000 at any time in the year. U.S. citizens and resident aliens can have U.S. reporting duties, including on foreign assets. Citizenship and residency are different tests; a treaty tie-breaker may matter when both countries view you as resident.

A treaty position or foreign-tax credit does not automatically remove a return or information-reporting obligation. Credits generally require a claim and qualifying tax; treaty treatment can change the amount or source of tax. Keep the tax return and reporting-form questions separate.

Thresholds are not interchangeable

For T1135, use the combined cost amount of specified foreign property, not simply year-end fair market value. Crossing CAD 100,000 at any time can trigger the form, even if the property is later sold. For an FBAR, a U.S. person generally reports when the aggregate maximum value of foreign financial accounts exceeds USD 10,000 at any time during the calendar year. Form 8938 is distinct: its asset categories and thresholds differ, and it may be required with an income-tax return in addition to an FBAR.

Deadlines and records

Do not assume one deadline covers every form. T1135 is due with the Canadian income-tax return; Form 8938 follows the U.S. income-tax return deadline, including extensions; an FBAR is due April 15 with an automatic extension to October 15. For the relevant 2026 filing cycle, confirm the applicable tax year and current instructions. Bring travel-day details, income slips, foreign-tax receipts, account statements, ownership information, and asset cost records for professional review.