In this article, you will find all the deadlines for upcoming the 2023 tax season. You can also find out when to expect each tax document.
Details to keep in mind
- Deposits must be received with the status marked as 'completed' in the account before the deadline for the transaction to count toward your 2023 contributions.
- INTERAC e-transfer must be received with the status marked as 'completed' in the destination account before the deadline for the transaction to count toward your 2023 contributions.
- Rejected deposits will not count toward your 2023 contributions.
- To ensure your deposit does not get rejected, make sure you have enough funds in your bank account to cover the total of your deposit before you submit it.
- If you make a transaction after a deadline has passed, we can't guarantee the transaction will count towards your 2023 contributions.
Important deadlines for the 2023 tax season
| Date | Time | Account | Description |
| Dec. 21, 2023 | 11:59 pm EST | All Managed accounts | Last day to make a withdrawal from your managed (Invest) and have it count as a withdrawal made in 2023. |
| Dec. 21, 2023 | 11:59 pm EST | All Managed accounts | Last day to make an internal transfer from one managed (Invest) account to another to ensure that funds are moved before the end of 2023. |
| Dec. 21, 2023 | 11:59 pm EST | DIY Accounts | Last day to sell holdings in your DIY account to ensure funds can be withdrawn in time for the end of 2023. |
| Dec. 28, 2023 | 11:59 pm EST | DIY Accounts | Last day to initiate a withdrawal from your DIY account and have it count as a withdrawal made in 2023. |
| Dec. 28, 2023 | 11:59 pm EST | All Accounts |
Last day to make an EFT deposit and guarantee that it will count towards your 2023 grants. Deposits must be marked as 'completed'. |
| Feb. 23, 2024 | 11:59 pm EST | RRSP, Spousal RRSP | Last day to move funds from a Managed account into your Wealthsimple RRSP to ensure funds count for the first 60 days of 2023. |
| Feb. 29, 2024 | 6:00 pm EST | RRSP, Spousal RRSP | Last day to move funds from a DIY/Cash account into your Wealthsimple RRSP to ensure funds count for the first 60 days of 2023 (internal transfer request must be submitted by this time, funds from source account must be in cash and settled). |
| Feb. 29, 2024 | 6:00 pm EST | RRSP, Spousal RRSP |
Last day to make a deposit* into your RRSP and have it count for the first 60 days of 2023. *Note: For Interac E-transfers, email requests must be answered and funds must land in your WS account before the deadline. |
When to expect each tax slip for the 2023 tax season
| Tax Slip | Account | Date | General Information |
|
RRSP Contribution (March 2, 2023 - December 31, 2023) |
RRSP, Spousal RRSP | Jan. 26, 2024 | Reports all contributions made to an RRSP/Spousal RRSP account between March 2, 2023, and December 31, 2023. |
| 1099-DIV (U.S. persons only) | Non-registered, TFSA, FHSA | Jan. 31, 2024 | Reports all U.S. source income earned during the year by a U.S. person for non-registered, FHSA and TFSA accounts. |
|
T5 RL-3 (Quebec residents only) |
Non-registered | Feb. 29, 2024 | Reports all T5 reportable income earned during the year by non-registered accounts. This typically includes interest on cash, eligible and ineligible dividends from corporations and amounts received related to split share investments. |
|
T5008 T5008/RL-18 Combo (Quebec residents only) |
Non-registered | Feb. 29, 2024 | Reports all dispositions made during the year in non-registered accounts. This includes the proceeds of disposition for each transaction as well as the associated book cost. These amounts allow you to calculate the capital gain/loss related to each disposition. |
|
T4RSP RL-2 (Quebec residents only) |
RRSP, LIRA | Feb. 29, 2024 | Reports all taxable withdrawals made during the year from an RRSP/LIRA as well as any tax that was withheld. |
|
T4RIF RL-2 (Quebec residents only) |
RRIF, LIF | Feb. 29, 2023 | Reports all taxable withdrawals made during the year from an RRIF/LIF. Also includes any tax that was withheld and an excess amount (if applicable). |
|
T4A RL-1 (Quebec residents only) |
RESP | Feb. 29, 2024 | Reports all taxable (EAP & AIP) withdrawals made during the year from an RESP. |
|
Crypto Tax *Note: This is not an official tax slip and is provided for informational purposes only |
Crypto | Feb. 29, 2024 | Reports all dispositions made during the year in Crypto accounts as well as the FMV of Staking rewards received. This includes the proceeds of disposition for each transaction as well as the associated book cost. These amounts allow you to calculate the capital gain/loss related to each disposition. |
| T4FHSA RL-32 (Quebec residents only) |
FHSA | Feb. 29, 2024 | Reports all FHSA tax slip reportable transactions including contributions, transfers and withdrawals. |
|
Foreign Asset Report *Note: This is not an official tax slip and is provided for informational purposes only |
Non-registered | Feb. 29, 2024 | Provides foreign asset information held in non-registered accounts which can help clients complete their T1135 tax reporting obligations if applicable. |
|
RRSP Contribution - First 60 days (January 1, 2024 - February 29, 2024) |
RRSP, Spousal RRSP | March 15, 2024 | Reports all contributions made to an RRSP/Spousal RRSP account between January 1, 2024, and February 29, 2024. |
|
T3 RL-16 (Quebec residents only) |
Non-registered | March 30, 2024 | Reports all T3 reportable distributions for the year received from ETFs held in non-registered accounts. |
|
T5013 RL-15 (Quebec residents only) |
Non-registered | March 31, 2024 | Reports all T5013 reportable distributions for the year received from partnerships held in non-registered accounts. |
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