Tax season

When Is Income Tax Due In Canada

Tax season is upon us and that means many Canadians are wondering when their taxes are due. The deadline for filing your income taxes in Canada is April 30th, but there are a few exceptions. Let’s discuss the different tax deadlines for Canadians and provide some tips on how to file your taxes on time.

What Day Is It Due


Taxes are due April 30 each year for most cases. If you’re self-employed, your taxes are due on June 15th. However, if you owe money to the government, you’ll need to pay by April 30th. Try to fill your taxes as soon as possible to avoid any issues with filing. If you’re not sure when your taxes are due, the best way to find out is by checking with the Canada Revenue Agency (CRA) or an accounting company like Silver Peak Accounting.


How Do I File My Taxes


Tax seasonThere are a few different ways to file your taxes in Canada. You can do it online, through the mail, or with an accounting company. If you’re not comfortable doing your taxes yourself, you can always hire a professional tax preparer. Tax filing services provide an easy and convenient way to file taxes on time properly.


File Taxes On Time


No matter how you choose to file your taxes, the most important thing is to make sure you do it on time. The CRA charges interest on late taxes, so it’s important to file before the deadline. If you’re not sure how to file your taxes or you need help with your tax return, there are a few resources available to you. The Canada Revenue Agency offers a variety of online resources and tools to help Canadians with their taxes. You can also speak to a representative by calling the CRA’s individual inquiries line. If you have any questions about how to file or tax filing services in London, Ontario – feel free to reach out to us too.


What Happens If I Miss Tax Deadline In Canada


Income taxIf you miss the tax deadline in Canada, the CRA will charge you a late-filing penalty. If you fail to submit a notice by the due date, you will be assessed a penalty of 5% for each month that you do not comply. If you don’t file your return within 60 days, you could be fined $100 or the amount of tax you owe. You can submit taxes after the deadline if you don’t owe any taxes to the CRA but are filing because you expect a refund or it was less than $2 for the entire year. If you don’t owe any taxes to the CRA, there are no penalties for submitting late.

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