Bob GauvreauAsk Bob Gauvreau Questions Based On His Training

🚨 Business Tax Deadlines You Can’t Afford to Miss! #shorts

4 Mar 2025 · 1 min

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1:00

Short explainer by Bob Gauvreau outlining Canadian (implied) business tax filing and payment deadlines for different entity types. Key points: sole proprietors and partnerships have a filing extension to June 15 but balances owing are due April 30 (with interest if unpaid by April 30); corporations must file within six months of their fiscal year-end. The video clarifies filing versus payment dates and penalty/interest implications.

Questions this video answers

June 15th (filing date).

April 30th (payment due date).

Interest is charged on the unpaid balance; no late-filing penalty but filing still required by June 15th.

Within six months of its fiscal year-end.

Chapters

Your business taxes are due to be filed at different times during the year, so depending on what type of entity you have. So if you're a sole proprietor or you are a partnership, your taxes are due to be filed on June 15th every single year. If you owe any money, the balance is due April 30th. Now if you don't pay it by April 30th, there's no penalties on late filing, but you still have to file June 15. But there would be interest if you don't make that payment by April 30th. So just maybe it doesn't make sense to everybody. But sole proprietorship individual taxes due April 30th. If you have business income included on your personal taxes, there's an extension to June 15. Regardless, the balance owing is due April 30. Now if you have a corporation, the circumstances change a little bit. The requirements for a corporation are that you have to file taxes within six months of your year end date.