If you’re someone who likes to get a jump start on tax planning, you’re in the right place. We highly recommend preparing early for the next tax season, particularly for business owners. Unlike employed individuals, business owners often need to gather a broader range of documents for tax filing purpose. Therefore, by starting your preparations now, you can ensure a smoother process when tax season arrives.

To better prepare for the upcoming tax season, there is a number of important deadlines to consider:

March 1, 2025 is the deadline to make Registered Retirement Saving Plan (RRSP) contribution if you would like it to be included in your 2024 tax return. You can read more about RRSP here.  

May 1, 2025 is the deadline for filing individual tax return except if you or your spouse has been self-employed in 2024. Please note that individuals are required by Canada Revenue Agency to file their tax returns by April 30th of each year. Sometimes, that specific date falls on a weekend and in that case the deadline will be the subsequent business day.

May 1, 2025 is the deadline for paying any tax owning for 2024. When a professional accountant files your tax, they usually advise you on the amount owing and the best way to make the payments to CRA.

June 15, 2025 is the deadline for filing tax return if you or your spouse has been self-employed (sole-proprietorship).

We recommend contacting us at least three weeks before the deadlines regarding your tax filing inquiry to give our tax accountants enough time to assist you. This way you can avoid paying penalties for late tax filing.
If you have further questions on how to file your tax, please feel free to contact our advisors at AP Accounting Solutions.