Are you wondering when do I file my taxes in Canada? The deadline for personal income tax returns is April 30th. However, if you owe money to the government, you will need to pay your balance by April 30th as well. If you are expecting a refund, the Canada Revenue Agency (CRA) will send it to you within eight weeks of filing your return.
Tax Filing Due Date
The income tax year in Canada runs from January 1 through December 31. When you owe income tax for the preceding calendar year, you need to pay it by April 30. Late entries are acceptable, although a penalty may apply.
When Can I Start Filing Taxes In Canada
The tax filing season in Canada usually starts on the last Monday of February. This is when the Canada Revenue Agency (CRA) begins to accept electronic and paper tax returns. If you are self-employed or have rental income, you are required to file your taxes by June 15. However, if you owe money to the CRA, you will need to pay your balance by April 30th.
How Do I File My Taxes
If you are a Canadian resident, you can file your taxes online or by mail. The CRA offers an electronic tax-filing service called EFile. You can use a local accounting firm to help file your taxes. An accountant will be able to file your taxes correctly and ensure you receive any deductions or credits you are entitled to.
When Should I Expect My Tax Refund
If you are expecting a refund, the Canada Revenue Agency (CRA) will send it to you within eight weeks of filing your return. If you have filed your taxes electronically, you can expect to receive your refund within two weeks. If you have filed your taxes by mail, you can expect to receive your refund within eight weeks.
If you have any questions about filing your taxes in London, Ontario – feel free to contact Silver Peak Accounting for financial help and accountants to file your taxes.
