July 2026 Canadian Business Due Dates & Three Fabulous Business Resources!

Hello!
Welcome to June 29th 2026! In this Newsletter:

• What’s due at the end of June?
• My Three Favorite Resources for July!
• What due dates are coming up in July?
• Announcements and Updates
  
  

What’s Due End of June?

• 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.
  
  
• 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. If that period ends Dec 31st, then the 2025 T5018's would be due June 30th 2026.
  
  
• 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. June 30th is the due date for the ​June Corporate Tax Instalment​.
  
  
• 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 June or 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​.

My Three Favorite Resources for July!
Now onto my three favorite resources for July!

1. How to Record a Truck Purchase and Loan: When a business purchases a vehicle with financing, many new bookkeepers feel unsure about the entry. I posted ​this​ helpful snippet from my Bookkeeping Simulation that walks through how to record a truck purchase and loan in QuickBooks Online, while also highlighting some of the bookkeeping considerations that arise when a vehicle asset is purchased.
2. Capital Leases vs Operating Leases: What is the difference between a Capital Lease and an Operating lease, and how does it affect the bookkeeping? If you're not sure of the answer to this question, I posted ​this ​helpful snippet from my bookkeeping simulation that breaks it all down!
3. Complete Guide to Business Plan Structure for Canadian Businesses 2026: Custom CPA just released a fantastic ​step-by-step guide​ on structuring a professional business plan specifically for the Canadian landscape. It breaks down what lenders, investors, and government grant programs actually need to see this year, right down to the financial model.

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 July?
Now’s the time to prep your July Calendar! #BeThatBusiness that is organized! Here are some July due dates that might affect your business:

• If your business has employees, and is a ​Regular Remitter​, July 15th is the due date for ​your payroll source deductions​ relating to June'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, and the premiums on earnings from April 1st to June 30th are due on July 31st.
  
  
• If you file your GST/HST Quarterly, the standard quarter of April to June is due to be filed and paid on or before ​July 31st.
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• 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 second ​GST/HST instalment​ towards your 2026 GST/HST Return on or before July 31st. 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 than the year before.
  
  
• 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. July 31st is the due date for the ​July Corporate Tax Instalment​.
  
  
• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, June's GST/HST filing and remittance is due on July 31st. Also, if your Corporate Fiscal Year End is January, your Corporate Tax Return is due 6 months after your Fiscal Year end (end of July). If your Corporate Year End is May, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of July or end of August, 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​.

This list is not exhaustive, but, they are some of the more universal due dates that could apply to you and your business. If your fiscal year end is not December 31st, be sure to note what due dates are specific to your schedule that are not universal to the generic year ends.


Updates:

The Grand Gate Gardens Bookkeeping Simulation is now updated with 2026 documents!: The Grand Gate Gardens bookkeeping simulation is a set of three and a half months of bookkeeping source documents covering the start of a sole proprietor in Ontario, Canada. With an easy on ramp for new and learning bookkeepers to get their bearings, each month add layers of real life complexity. As a garden centre and landscaper, small jobs begin, then the store opens, then larger jobs require deposits, and client payments using Square begin, as Moneris handles the card payments at the store... a vendor double charges... a client's cheque bounces... if you're looking to gain some real world practice, this simulation covers a bit of March, and then full swing into April, May, and June 2026, we a few days in July. Quarterly HST filing, month end review, missing paperwork and some clean up. This is not a textbook business, this is a business that happens in real life, outside of the classroom! Find out more ​here​.

FABULOUS FIRST FRIDAYS @FIVE!: Looking to connect? Join my live FABULOUS FIRST FRIDAYS @FIVE open Zoom Meeting! My Monthly Open AMA Zoom Chat Session where we can connect and discuss questions regarding all things bookkeeping and business in Canada. It's a free group event where anyone can drop by to say hi and ask a question! Click ​here​ to register! Next one is Friday July 3rd.

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Be Intentional Today! Get out there, and Be That Business That Thrives!
Naomi Wilkins, CPB
I Love Making Bookkeeping Make Sense
​www.naomiwilkins.ca​
Need more than a First Friday fix? Here are a few ways I can help:
• ​QBO GST/HST Module Fix​
• ​QBO File Health & Reliability Review​
• ​Nifty Nomi One-on-One Zoom Session​
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 I have tried to ensure the accuracy of the information in this newsletter, I accept no liability for errors or omissions.