What is the tax filing deadline for self-employed Canadians?

Self-employed Canadians and their spouses or common-law partners have an extended filing deadline of June 15, 2025 for the 2024 tax year. However, any balance owing to the CRA is still due by April 30, 2025.

Important distinctions:

• Filing deadline: June 15, 2025 (if June 15 falls on a weekend, the deadline extends to the next business day. In 2025, June 15 is a Sunday, so the filing deadline is June 16, 2025).
• Payment deadline: April 30, 2025. Interest on any unpaid balance begins accruing on May 1, 2025.
• Spouse/partner: If either you or your spouse/common-law partner is self-employed, both of you qualify for the June 15 filing deadline.

Why the payment deadline matters:

Even though you have until June 15 to file, the CRA charges compound daily interest on any unpaid balance starting May 1. The prescribed interest rate changes quarterly and is set by the CRA. Filing by June 15 avoids the late-filing penalty, but it does not avoid interest charges.

Instalment requirements:

If your net tax owing for 2024 (or either of the two preceding years) exceeds C$3,000 (C$1,800 in Quebec), the CRA may require you to make quarterly instalment payments. Instalment due dates are:

• March 15
• June 15
• September 15
• December 15

Late-filing penalty:

If you owe taxes and miss the June 15 deadline, the penalty is 5% of the balance owing plus 1% for each additional full month late, up to 12 months.

Tip: Even if you cannot pay by April 30, file on time to avoid the late-filing penalty. Contact the CRA to set up a payment arrangement if needed.