CRA & Revenu Québec

Tax Tip: Late filing of your tax return

The regular due date for income tax returns is April 30, with some exceptions. The due date for self-employed individuals is June 15, although any balance owing is still due April 30.

To help file your return on time, prepare your financial statements early, making sure your deductions and credits offset your taxes payable. If you owe taxes but file for the June 15 deadline, ensure you pay amounts owed before April 30 to avoid penalties.

For late filing, the Canada Revenue Agency charges five percent on balance owed, plus one percent for each month, up to a maximum of 12 months. If you failed to file your return for the three prior years, your current return will be charged a 10 percent penalty plus two percent for each month, up to a maximum of 20 months.

Depending on your situation, refunds beyond the three year normal period or the 10 year deadline limitation period may be reduced.