Getting an income tax refund can be a happy bonus, but an unexpected tax bill can be an unpleasant surprise.
If you have a balance owing, your payment is due on April 30. However, because that’s a Sunday this year, CRA will consider your payment on time if it receives it, or a Canadian financial institution processes it, on or before May 1.
“What I’ve found is generally they’ll agree to a payment plan provided that you’re co-operative and that you’re fully candid and that you come forth with all your facts and your situation,” Gillespie said. Fred O’Riordan, national leader for tax policy at EY Canada, said financial hardship is among the reasons why the CRA would be willing to grant someone some relief.“You can make an initial application, they will respond, and if you’re not happy with the decision, you can also send it back for a second look by the agency and they will reconsider it.”
Most Canadians have until Monday to file their return this year, while the filing deadline for those who are self-employed is June 15. And while the ongoing strike by more than 100,000 federal government this week includes staff at CRA, the tax agency has not budged on the filing deadline for this year so far.Article content
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