In this article:
Overview
In this article, you will find all the deadlines for the upcoming 2024 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 2024 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 2024 contributions.
- Rejected deposits will not count toward your 2024 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 2024 contributions.
Important deadlines for the 2024 tax season
| Date | Time | Account | Description |
| December 23, 2024 | 11:59 pm EST | All managed accounts | Last day to make a withdrawal from your managed investment account and have it count as a withdrawal made in 2024. |
| December 23, 2024 | 11:59 pm EST | All managed accounts | Last day to make an internal transfer from one managed investment account to another to ensure that funds are moved before the end of 2024. |
| December 23, 2024 | 11:59 pm EST | Self-directed accounts | Last day to sell holdings in your self-directed account to ensure funds can be withdrawn in time for the end of 2024. |
| Dececember 30, 2024 | 11:59 pm EST | Self-directed accounts | Last day to initiate a withdrawal from your self-directed account and have it count as a withdrawal made in 2024. |
| December 30, 2024 | 11:59 pm EST | All accounts |
Last day to make an EFT or e-Transfer deposit and guarantee that it will count towards the 2024 tax year. Deposits must be marked as 'completed'. |
| February 26, 2025 | 11:59 pm EST | RRSP, Spousal RRSP | Last day to move funds from a managed investing account into your Wealthsimple RRSP to ensure funds count for the first 60 days of 2025 and toward your contributions for the 2024 tax year. |
| March 3, 2025 | 6:00 pm EST | RRSP, Spousal RRSP | Last day to move funds from a self-directed or Cash account into your Wealthsimple RRSP to ensure funds count for the first 60 days of 2025 and toward your contributions for the 2025 tax year.
Note: Internal transfer requests must be submitted by this time and the funds from the source account must be in cash and settled.
|
| March 3, 2025 | 6:00 pm EST | RRSP, Spousal RRSP |
Last day to make a deposit into your RRSP that will count for the first 60 days of 2025 and toward your contributions for the 2024 tax year. Funds from any e-Transfers must land in your Wealthsimple account before the deadline. Third-party contribution cheques mailed or couriered to our office before 11:59 pm on March 1, 2025 are eligible for backdating even if received after the deadline. |
When to expect each tax slip for the 2024 tax season
| Tax slip | Account | Date | General information |
|
RRSP Contribution (March 1, 2024 - December 31, 2024) |
RRSP, Spousal RRSP | January 24, 2025 | Reports all contributions made to an RRSP/Spousal RRSP account between March 1, 2024, and December 31, 2024. |
|---|---|---|---|
| 1099-DIV (U.S. persons only) | Non-registered, TFSA, FHSA | January 31, 2025 | 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 for Quebec residents |
Non-registered | February 28, 2025 | 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 for Quebec residents |
Non-registered | February 28, 2025 | 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 for Quebec residents |
RRSP, LIRA | February 28, 2025 | Reports all taxable withdrawals made during the year from an RRSP/LIRA as well as any tax that was withheld. |
|
T4RIF RL-2 for Quebec residents |
RRIF, LIF | February 28, 2025 | 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 for Quebec residents |
RESP | February 28, 2025 | Reports all taxable (EAP & AIP) withdrawals made during the year from an RESP. |
|
Crypto Tax Statement Note: This is not an official tax slip and is provided for informational purposes only |
Crypto | March 7, 2025 | 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 for Quebec residents |
FHSA | February 28, 2025 | Reports all FHSA tax slip reportable transactions including contributions, transfers and withdrawals. |
|
Foreign Asset Report |
Non-registered | March 7, 2025 | 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, 2025 - March 3, 2025) |
RRSP, Spousal RRSP | March 18, 2025 | Reports all contributions made to an RRSP/Spousal RRSP account between January 1, 2025, and March 3, 2025. |
|
T3 RL-16 for Quebec residents |
Non-registered | March 31, 2025 | Reports all T3 reportable distributions for the year received from ETFs held in non-registered accounts. |
|
T5013 RL-15 for Quebec residents |
Non-registered | March 31, 2025 | Reports all T5013 reportable distributions for the year received from partnerships held in non-registered accounts. |
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