Tax deadline is next Thursday
Posted Apr 24, 2015 07:28:47 AM.
This article is more than 5 years old.
You’re running out of time to file your taxes; the deadline is next Thursday.
With so little time left to do them, the Canada Revenue Agency says there are still a lot of people who haven’t done their paperwork.
The CRA is expecting about 28 million Canadians to file by the end of the year but so far, just over half actually have.
Fiona He says if you owe money and you don’t file by April 30th — you could be slapped with a hefty fine. “It’s five per cent on the balance owing, plus one per cent per month to a maximum of 12 months.”
Aftar a year, that five per cent could go up to 10 per cent. If you’re self-employed, you have until June 15th to file.
She’s reminding you the deadline doesn’t apply to everyone; it’s best to check the CRA website for more information.
“If they are not owing any taxes, then they may not need to file by April 30th,” adds He.
The average return this year is expected to be about $1,700.
