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Revenue Canada Information

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BEWARE OF LATE-FILING PENALTY

The CRA will impose a late-filing penalty if you fail to file your return on time and you owe taxes.

Up to a maximum of 12 months, the penalty is equal to 5% of your outstanding debt + 1% of your outstanding balance for each complete month that your return is late.

If you file late and owing twice in a three-year period, the penalties DOUBLE.

Filing Due Dates:

Generally speaking, you must file your return by April 30 at the latest.

Note: You may experience a delay in receiving your Old Age Security benefit, GST/HST credit, and Canada Child Tax Benefit (including payments from specific connected province or territorial programs) if you file your return after April 30.

Self-employed persons

Your return must be filed by June 15 at the latest if you, your spouse, or your common-law partner operated a business. You must still pay any outstanding balances by April 30 at the latest, though.

Instalment Payments:

March 15, June 15, September 15, and December 15 are the due dates for your installment payments.

If your payment is stamped on the following business day after a due date that falls on a Saturday, Sunday, or CRA-recognized holiday, it is deemed to have been made on time.

Late-Filing Penalty:

The CRA will impose a late-filing penalty if you fail to file your return on time and you owe taxes.

Up to a maximum of 12 months, the penalty is equal to 5% of your outstanding debt + 1% of your outstanding balance for each complete month that your return is late. If you file late and owing twice in a three-year period, the penalties DOUBLE.

If your payment is stamped on the following business day after a due date that falls on a Saturday, Sunday, or CRA-recognized holiday, it is deemed to have been made on time.

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