Have a Plan
A personalized financial plan can play a key role in helping to reduce your tax. To find out more about how you can achieve your financial goals, talk to your 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 2015 RRSP contribution is February 29, 2016. If your cheque is postdated and/or your envelope is received after February 29, 2016, you’ll receive a contribution slip in early 2017 for the 2016 tax year.
Consider a TFSA
Contribute to your tax-free savings account (TFSA) within the prescribed limits for 2016. Find out more about TFSAs.
Target and Actual Mailing Dates
Use the table below to keep track of the documents you may receive from MD Management (MDM) between January and early April 2016, and to help organize everything you need to file your 2015 tax return with Canada Revenue Agency and Revenu Québec, as well as with Internal Revenue Service (IRS), if necessary.
Please note that during tax season, you will also receive financial statements from MDM. These statements are sent for your reference only and are not required for filing your tax return.
|MD Target Mailing Date*||Item||Date Sent|
|Late January||RRSP contributions tax slip (for contributions made from March 3 through December 31, 2015)|
|Monthly in January;|
bi-weekly in February
|RRSP contributions tax slip (for first 60 days of 2016, i.e., contributions made up to and including the contribution deadline of February 29, 2016)|
|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 January||RRIF re-contributions tax slip (2015)|
|Monthly in January and February||RRIF re-contributions tax slip (first 60 days of 2016)|
|Late February to late March||T3, Relevé 16, NR4|
|Late February to early March||T5, Relevé 3, NR4|
Statement of Security Dispositions
|Late March||T5013, Relevé 15, T5006, MD Family Trust tax returns|
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 15. Interest will be charged on any unpaid tax from April 15, but no late-filing penalties will be assessed if you file by June 15 and attach a statement to your return explaining you are living outside of the United States.
You can also receive an automatic extension to October 15 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. Therefore, if there’s no balance due, you should not be subject to any late-filing income tax penalties. Find out more.