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Be That Business Newsletter March 28th 2025: Prep your April Business Calendar PLUS Three FABULOUS Free Resources for Canadian Businesses!

3/28/2025

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Hello!
Welcome to March 28th 2025! In this Newsletter:

What’s due at the end of March?
My Three Favorite Resources for March!
What due dates are coming up in April?

What’s Due End of March?

If your GST/HST Filing is annual, and based on the Calendar Year January to December, AND your business is a partnership or your business is incorporated, then your annual GST/HST Return is due to be filed and paid on or before March 31st.
If your business is incorporated, and owed greater than $3k in corporate Income Tax for the previous fiscal year, then it is required to pay installments for next year on the last day of every month. March 31st is the due date for the March Corporate Tax Installment.
If required, partnerships (except those made up of corporations, or a combination of individuals, corporations, and trusts with different filing dates) must file a Partnership Information Return before this March 31st.
NR4's are issued by Canadian Payers who make payments to non-residents of Canada for income such as interest, dividends, rents, royalties, pensions, and acting services. These are due to be filed with CRA on March 31st.
T3 Trusts Returns also are due on March 31st. Last year, CRA updated their Reporting Requirements for trusts, and there were trusts that needed to file for the first time. More information can be found on CRA here.
Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, February's GST/HST filing and remittance is due on March 31st. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter December to February would be due March 31st. Also, if your Corporate Fiscal Year End is September, your Corporate Tax Return is due 6 months after your Fiscal Year end (in March). If your Corporate Year End is January, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due in March or in April, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more here.

My Favourite Hacks & Resources from March!
Here's three fabulous resources for Entrepreneurs to spring into spring!

13 Spring Cleaning Tasks for Canadian Businesses: This month I created a Spring Cleaning Checklist for Canadian Businesses! Vacation Pay, EHT, Business Name Registration, Website updates, Uncleared Items and more... what important tasks and checks are slipping through the cracks that could impact compliance, or increase profit? Don't forget to include your business in your Spring Cleaning Goals! Download the printable checklist here!
Are they an Employee or a Contractor?: Both CRA and WSIB/WCB are very opinionated on whether that worker is an Employee or not, and if an Employee, then the Employee Labour Standards and Regulations apply. "Misclassifying workers can lead to payroll headaches, tax troubles, legal issues and compliance issues. The Canada Revenue Agency (CRA) holds employers responsible for getting this right, so understanding the key differences is crucial." writes Bianca Mueller, in her recent Blog Post "Hiring in Canada? Here's What You Need to Know About Employees Vs. Contractors."
My Canadian Payroll Basics Course now Live!: Canadian Payroll Basics for Bookkeepers, Office Managers, and Entrepreneurs. Unlock the complexities of Canadian payroll and seamlessly integrate it with your bookkeeping processes. This course provides a thorough understanding of foundational payroll concepts, from how the deductions are calculated to navigating tax regulations and remittances. You'll learn to accurately track payroll totals and manage vacation pay. We'll delve into both manual payroll processing and the use of payroll apps and services, equipping you with practical skills for real-world scenarios. You'll explore how payroll data impacts your general ledger accounts and financial reports, including the intricacies of cash vs. accrual accounting, and the methods of modified cash accounting to increase efficiency without losing accuracy.

What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!
What due dates are coming up in April?Now’s the time to prep your April Calendar! #BeThatBusiness that is organized! Here are some April due dates that might affect your business:

If you have employees, April 15th is the due date for your payroll source deductions if you are a regular remitter relating to March's payroll.
If you have employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. In Ontario, WSIB is due quarterly for Insurable Earnings over $20k, and the premiums on earnings from Jan 1st to March 31st are due on April 30th.
If your GST/HST is quarterly, and falls on the standard quarters, then the 1st quarter (Jan to Mar), is due to be filed and paid on or before April 30th
If your GST/HST Filing is annual, and based on the Calendar Year January to December, AND you are a self-employed, then your due date to file your HST is June 15th. BUT! Your due date to PAY is April 30th.
If your GST/HST is annual, and is based on the standard Calendar Year, and also was payable by more than $3k the previous year you filed, then you are required to pay a GST/HST installment towards your 2025 GST/HST Return on or before April 30th. This installment should be either 25% of what your net GST/HST was from your previous filing, or 25% of what you predict it will be if you predict it to be less then the year before.
For those who are not self-employed (or are not a spouse of someone self-employed), their Personal Income Tax Return is due on or before April 30th. April 30th is also their due date to pay any income tax owing.
For those who ARE self-employed (or are the spouse of someone self-employed), though their Personal Income Tax Return is not due until June 15th, your due date to pay any income tax owing is STILL April 30th! Even if your income tax is not finalized, find out an estimate of what the taxes may be, and be sure to pay that to CRA as an installment on 2024's tax account before April 30th.
UHT; Underused Housing Tax Return: If you own or have an interest in a residential property in Canada with 3 or less units you may need to file an Underused Housing Tax return by April 30th 2025. Find out more details about the UHT Return from my Oct 2023 newsletter.
If you are incorporated, and you owed corporate Income Tax for your previous fiscal year, then you are required to pay installments for next year on the last day of every month. April 30th is the due date for the April Corporate Tax Installment.
Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, March's GST/HST filing and remittance is due on April 30th. Also, if your Corporate Fiscal Year End is October, your Corporate Tax Return is due 6 months after your Fiscal Year end (in April). If your Corporate Year End is February, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due in April or in May, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more here.

Be Intentional Today!
Get out there, and Be That Business That Thrives!
Naomi Wilkins
Making Business Make Sense
www.naomiwilkins.ca
Disclaimer: This Newsletter is intended to inform readers in general terms. It is not intended to provide any tax or business advice. Please consult your accountant if you have any questions about your unique situation. While we have tried to ensure the accuracy of the information in this article, we accept no liability for errors or omissions.

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Be That Business Newsletter May 30th 2025: Prep your June Business Calendar! Plus 3 Fabulous Business Resources!

3/28/2025

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Hello!
Welcome to May 30th 2025! In this Newsletter:

What’s due at the end of May?
My Three Favorite Resources for June!
What due dates are coming up in June?

What’s Due End of May?

If your business is incorporated, and owed corporate Income Tax for the previous fiscal year, then the business is required to pay installments for next year on the last day of every month. May 31st is the due date for the May Corporate Tax Instalment. (Monday June 2nd in 2025, as the 31st falls on a Saturday)
Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, April's GST/HST filing and remittance is due on May 31st. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter February to April would be due May 31st. Also, if your Corporate Fiscal Year End is November, your Corporate Tax Return is due 6 months after your Fiscal Year end (in May). If your Corporate Year End is March, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of May or end of June, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more here.

My Three Favorite Resources for June!

CRA's Quick Reference on Business Deadlines - Businesses have different filing and payment deadlines – in May, CRA put out a quick reference to help you stay organized!
Tax Debt Options with CRA - CRA also put out in May a "Tax Tips" post on how you can work with CRA to resolve your debt. This is applicable for both personal and business taxes. If you don't pay or call to discuss your situation, the CRA can take steps to recover the amount you owe, so talking with them is always the best option.
Accounting Processes and Workflows: Financial Cents has come out with a free course by the legendary Work Flow Queen Kellie Parks "Setting Up Accounting Processes and Workflows". Written for the bookkeeping firm audience, it has practical suggestions and workflows that can be applied to many situations from office managers to new bookkeeping service providers.

What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!

What due dates are coming up in June?
Now’s the time to prep your June Calendar! #BeThatBusiness that is organized! Here are some June due dates that might affect your business: (Note, June 15th falls on a Sunday. So any CRA June 15th due date is actually June 16th in 2025)

If your business has employees, and is a Regular Remitter, June 15th is the due date for your payroll source deductions relating to May's payroll. (In 2025, June 15th is a Sunday, so technically due June 16th this year).
If your business has employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. (In Ontario, WSIB is due quarterly, and the premiums on earnings from April to June are due on July 31st)
Even though the payment deadline for your personal income taxes was April 30th, if you are self-employed, your personal income tax return is due to be filed June 15th. (In 2025, June 15th is a Sunday, so technically due June 16th this year).
If your GST/HST Filing is annual, and based on the Calendar Year January to December, AND you are a self-employed, then your due date to file your HST is June 15th. BUT! Your due date to PAY was April 30th
If you were payable by $3,000 or more on your personal income taxes for 2023 and also for 2024, CRA requires that you pay installments on your 2025 income taxes. If you fall into this category, June 15th your second personal income tax installment is due.
The Corporate Tax Return (the T2), is due six months after the fiscal year end. If your fiscal year end is the calendar Dec 31st, then the corporations' tax return is due June 30th. But these take time to prepare. If you haven't reached out to your accountant yet, then make this a priority right away
.
If your business is involved in construction activities and makes payments to subcontractors for construction services, you will need to file T5018s, "Statement of Contract Payments" for each of your contractors each year. You can report the payments on a calendar year basis, or based on your fiscal year end. These are due six months after the reporting period you have chosen, either your fiscal year end, or the calendar year end. If that period ends Dec 31st, then the 2024 T5018's would be due June 30th 2025.
If your business is incorporated, and owed corporate Income Tax for the previous fiscal year, then you are required to pay installments for next year on the last day of every month. June 30th is the due date for the June Corporate Tax Installment.
Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, May's GST/HST filing and remittance is due on June 30th. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter March to May would be due June 30th. Also, if your Corporate Fiscal Year End is December, your Corporate Tax Return is due 6 months after your Fiscal Year end (June 30th). If your Corporate Year End is April, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of June or end of July, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more here.

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Be That Business Newsletter March 28th 2025: Prep your April Business Calendar PLUS Three FABULOUS Free Resources for Canadian Businesses!

Be That Business Newsletter May 30th 2025: Prep your June Business Calendar! Plus 3 Fabulous Business Resources!

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