Income tax Dates
MAR 31Final date for ratio option provisional tax applications.
APR 7End-of-year income tax and Working for Families bills are due if you have an extension of time to file your income tax return.
MAY 7Provisional tax payments are due if you have a March balance date and use the standard, estimation or ratio options.
Withholding tax is a type of income tax deduction. It helps people to pay tax on all their income, not just salary or wages.
When someone earns income from interest, contract work or other sources that are not salary or wages, there are some situations when the payer must withhold tax from that income and pay it to us on the person's behalf.
For example, a bank deducts resident withholding tax (RWT) from interest it pays to investors, or a company deducts withholding tax from schedular payments it pays to contractors.