The filing period for 2020 personal tax returns are about to start. You still have until February 28, 2021 to make RRSP contributions that will qualify for a deduction on your December 2020 tax return. To assist you in identifying the relevant sources of income and deductions, we provide the Personal Income Tax Checklist. All clients are required to complete the Checklist and sign the included Engagement Letter. Once completed, you can submit it electronically. Or, you may print it out and drop off in person with the hard copies of your relevant tax documents for the 2020 tax year.

Important deadlines:

  • Filing deadline for individuals – April 30, 2021
  • Filing deadline for self-employed and farms – June 15, 2021
  • Due date for any tax owing for the 2020 year – April 30, 2021 *

* Some individuals automatically qualify for interest relieve until April 30, 2022. The relief applies if (1) your income for 2020 is less than $75,000, (2) you received one of the COVID-19 benefits (CERB, CRB, etc.) and (3) you submitted your tax return on time. This means CRA will not charge any interest until April 30, 2022.