What Happens if I Don’t File my Taxes on Time?
This is a question asked by many of our first time clients, and for whatever reason the due date for Canadian Taxes is missed.
(Due Dates: April 30th – Employee, June 15th – Self Employed)
Penalties for missing the tax deadline are:
To avoid the hassle of Canadian Tax Penalties it is important to follow a few simple tips.
If payment is your concern, it is highly recommended to file your taxes and submit all the necessary forms as a payment plan can be worked out at a later date.
Notifying the CRA about your own failure to file for multiple years may lead to them waiving the federal and provincial fees.
Finally, you can always file a Request for Taxpayer Relief with the CRA if you have to file late for reasons beyond your control.
An accountant can take control in situations like these and ensure these penalties are prevented by working with you closely to plan your best tax strategy. Call Matthew Gustavson Chartered Accountant for your free no obligation consultation today at 778.484.8155 or email us at firstname.lastname@example.org