Have a plan
A personalized financial plan can play a key role in helping to reduce your taxes. To find out more about how you can achieve your financial goals, talk to your MD Financial Management (MD) Advisor about MD ExO®.
Maximize your RRSP contributions
Get a tax deduction and increase your retirement savings by contributing to your registered retirement savings plan (RRSP).
The deadline for your 2016 RRSP contribution is March 1, 2017. If your cheque is postdated and/or your envelope is received after March 1, 2017, you’ll receive a contribution slip in early 2018 for the 2017 tax year.
Consider a TFSA
Contribute to your tax-free savings account (TFSA) within the prescribed limits for 2017. Find out more about TFSAs.
Keep track of 2017 target mailing dates
Use the table below to keep track of the documents you may receive from MD between January and early April 2017, and to help you organize everything needed to file your 2016 tax return with Canada Revenue Agency and Revenu Québec, as well as with the Internal Revenue Service (IRS), if necessary.
Please note that during tax season, you will also receive financial statements from MD. These statements are sent for your reference only and are not required for filing your tax return.
|MD Target Mailing Date*||Item|
|Late January||RRSP contributions tax slip (for contributions made from March 1 through December 31, 2016)|
|Early February for January contributions;|
mid-February to early March for February contributions
|RRSP contributions tax slip (for the first 60 days of 2017, i.e., contributions made up to and including the contribution deadline of March 1, 2017)|
|Late January to early February||1099-INT, 1099-DIV, 1099-B|
|Mid to late February||T4RSP, Relevé 2, NR4|
T4RIF, Relevé 2, NR4
T4A, Relevé 1, NR4
|Late February to late March||T3, Relevé 16, NR4|
T5, Relevé 3, NR4
|Late February to early March||Statement of Security Dispositions (Consolidated T5008)|
|Late March to early April||T5013, Relevé 15, MD Family Trust tax returns, T1135|
Go green! Choose online-only delivery for your statements and tax slips. Learn more.
Deadlines for filing U.S. tax returns
If you are a U.S. person living in Canada, you have an automatic extension to June 15 to file your U.S. tax return, but any tax due must be paid by April 17. Interest will be charged on any unpaid tax from April 17, but no late-filing penalties will be assessed if you file by June 15 and attach a statement to your return explaining that you are living outside the United States.
You can also receive an automatic extension to October 16 if you file an application and pay at least 90% of your final tax liability. You will be contacted only if your request is denied.
Late-filing income tax penalties are assessed only if there’s a balance due on your return: if there’s no balance due, you should not be subject to any late-filing income tax penalties. Find out more.