Every Tax Deadline Self-Employed Canadians Need to Know in 2026

Missing a tax deadline when you are self-employed does not just mean a sternly worded letter from the CRA. It means penalties, compounding interest, and in some cases, losing access to benefits like the GST/HST credit or the Canada Child Benefit. The good news is that every deadline is predictable and the same year after year.

Here is every date you need to know as a self-employed Canadian.

Income Tax Deadlines

Filing Deadline: June 15

If you or your spouse or common-law partner is self-employed, your T1 personal income tax return is due on June 15 of the following year. For the 2025 tax year, that means June 15, 2026.

This is one of the few advantages of being self-employed: you get an extra six weeks compared to employees, whose returns are due April 30.

But there is a catch. While your return is not due until June 15, any taxes you owe are still due on April 30. The extended filing deadline does not extend the payment deadline. If you owe money and do not pay by April 30, the CRA will charge you interest on the unpaid balance starting May 1, even though your return is not technically late yet.

Payment Deadline: April 30

Any balance owing for the previous tax year must be paid by April 30. This applies to everyone, including those with the June 15 filing deadline.

Practical tip: If you are not sure how much you owe, estimate your taxes and pay by April 30. You can always get a refund if you overpay. Underpaying is what triggers interest charges.

Quarterly Instalment Dates

If you owe more than $3,000 in net federal and provincial tax in the current year and in either of the two preceding years, the CRA expects you to pay your taxes in quarterly instalments throughout the year rather than in one lump sum.

The four instalment due dates are:

Instalment	Due Date
Q1	March 15
Q2	June 15
Q3	September 15
Q4	December 15

Note for Quebec residents: The federal threshold is $1,800 in net federal tax. Quebec administers its own provincial instalments through Revenu Quebec with the same quarterly dates.

How Instalments Are Calculated

The CRA gives you three options for calculating each instalment amount:

1. Current-year method. Estimate your total tax for the current year and divide by four. Best if your income is rising.
2. Prior-year method. Use last year's total tax divided by four. Simple and safe if your income is stable.
3. CRA's no-calculation option. The CRA sends instalment reminders with suggested amounts based on your prior two years. Following their amounts exactly means you will never be charged instalment interest, even if the amounts turn out to be slightly off.

What happens if you skip instalments? The CRA charges instalment interest on late or underpaid instalments. The interest rate is the prescribed rate, which changes quarterly. As of early 2026, the prescribed interest rate on overdue taxes is 10% per year, compounded daily. The CRA may also charge an instalment penalty if your instalment interest for the year exceeds $1,000.

GST/HST Filing Deadlines

If you are registered for GST/HST, you have a separate filing obligation. The deadline depends on your reporting period.

Annual Filers

Most sole proprietors file GST/HST annually. If your fiscal year end is December 31 (which it is for most sole proprietors), your GST/HST return and any net tax owing is due by June 15 of the following year.

However, just like income tax, the payment is due by April 30 even though the return is not due until June 15.

Quarterly and Monthly Filers

If you file GST/HST quarterly or monthly, the return and payment are due one month after the end of each reporting period.

Reporting Period	Filing and Payment Deadline
Annual (Dec 31 year-end)	Return: June 15 / Payment: April 30
Quarterly (e.g., Jan-Mar)	One month after quarter end (April 30)
Monthly (e.g., January)	One month after month end (February 28)

Reminder: You must register for GST/HST once your revenue exceeds $30,000 in a single calendar quarter or over four consecutive calendar quarters. Until you hit that threshold, registration is voluntary.

Penalties for Late Filing

The CRA imposes a penalty if you file your income tax return late and have a balance owing. The penalty is:

• 5% of the balance owing, plus
• 1% of the balance owing for each full month the return is late, up to a maximum of 12 months

That means the maximum late-filing penalty is 17% of your balance owing. If you have been charged a late-filing penalty in any of the three preceding years, the CRA can double it to 10% plus 2% per month, for a maximum of 20 months (50% total).

Late Filing With No Balance Owing

If you file late but do not owe any tax, there is no late-filing penalty. However, filing late can delay benefit payments like the GST/HST credit and the Canada Child Benefit.

Penalties for Late Payment

Late payment is separate from late filing. If you owe tax and do not pay by April 30, the CRA charges compound daily interest at the prescribed rate on the unpaid amount. As of Q1 2026, that rate is 10% annually.

There is no flat penalty for late payment alone, but the interest adds up quickly. On a $10,000 balance, daily compounding at 10% works out to roughly $2.74 per day.

Interest on Overdue Taxes

The CRA's prescribed interest rate is set quarterly based on the Government of Canada 90-day treasury bill rate, plus 4 percentage points. This rate applies to:

• Overdue income tax balances
• Overdue GST/HST balances
• Late or insufficient instalment payments
• Amounts owing on reassessments

The interest compounds daily, which means you pay interest on the interest. Check the CRA's website each quarter for the current prescribed rate.

A Calendar Summary

Here is every key date on a single page:

Date	What is Due
March 15	Q1 instalment payment
April 30	Income tax balance owing / GST/HST payment (annual filers)
June 15	T1 income tax return (self-employed) / Q2 instalment / GST/HST return (annual filers)
September 15	Q3 instalment payment
December 15	Q4 instalment payment

Practical Tips for Staying on Track

1. Set aside 25-30% of every invoice. This covers federal tax, provincial tax, and CPP contributions. Adjust up or down based on your actual marginal rate.
2. Automate your instalments. Set up pre-authorized debit with the CRA so you never miss a quarterly date.
3. File on time even if you cannot pay. The late-filing penalty is on top of the late-payment interest. Filing on time and paying late is cheaper than filing late and paying late.
4. Track your income and expenses throughout the year. Scrambling to reconstruct a full year of business activity in April is stressful and error-prone.

Sources

1. CRA: Tax instalment payments for individuals
2. CRA: Interest and penalties on late or insufficient payments
3. CRA: Filing due dates for the GST/HST
4. CRA: Prescribed interest rates
5. CRA: GST/HST registration requirements