Sandra DaCosta

The June 15th self employed tax deadline in Canada is coming up and this can be a challenge for small businesses, especially those that are newly operational or whose books are not in order.

There is always misunderstanding around the June 15th filing deadline for self-employed businesses. A few of us CPAs including myself recently had the opportunity to discuss the challenges with the June 15 filing deadline with the Globe & Mail. Below is a link to the news article:

https://www.theglobeandmail.com/investing/globe-advisor/advisor-news/article-how-the-self-employed-can-stay-on-track-for-june-15-tax-filing/

Canada - June 15 is the deadline for filing your tax return for self-employed individuals (tax payables, if applicable, are still due on April 30th). June 30 is the deadline for filing Section 216 non-resident rental tax returns

U.S. - June 15 is the deadline for filing your tax return if you are residing outside the U.S. on April 15 (you qualified for the automatic two month extension). October 15 is the due date for filing your tax return if you filed an extension

If you have any questions on upcoming tax due dates, please reach out (in May 😬).

Last week, Bill C-4, received Royal Assent in Canada. That includes the enhanced GST rebate for first-time home buyers.

CRA announced applications can be made but there will be a delay for purchase contracts entered March 20/25 to May 25/25. This is likely because the effective date was revised to March 20 from May 26 during the legislative process.

See the CRAs GST rebate for first-time home buyers application link below:

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/gst-hst-businesses/gst-hst-rebates/first-time-home-buyers-gst-hst-rebate.html