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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