Back Taxes Canada.ca - Filing Date, Interest, & Penalties | 416-626-2727


Hello my name is Michael from backtaxes-canada.ca. Today I will discuss the deadlines and possible penalties for filing your personal income tax return.

The deadline for filing your personal tax return is April 30. Meaning if you are filing your 2015 tax return it is due April 30, 2016. However, if you and your spouse or common law partner were self-employed during the year, then the deadline to file your tax return is June 15 instead of April 30.

The deadline to pay your taxes is April 30 even if you are self-employed. If you still owe money after April 30, you will have to start paying interest.If you are unable to file your tax return on time, you can pay an estimated amount of tax that you think is payable.

Be aware, CRA will charge a high penalty if the return is filed late. The late filing penalty is 5% of the balance owing plus 1% each monththe return is not filed. So for example, if the return was filed in August the penalty would be 9%. If this is not the first time you have late filed your return, CRA could charge 10% of the balance owing plus 2% each month. A very important point to be aware of is that in order to avoid interest and penalties file your return as soon as possible.

We specialize in all types of tax returns and are very experienced in late filed tax returns. We can prepare the return and obtain any outstanding info required. We also will ensure that all taxes are minimized and any interest and penalties are as low as possible. We can also apply for the waving of interest and penalties in certain situations.

We are here to help you at backtaxes-canada.ca.You can contact us at [email protected] or phone us at 416-626-2727.