With the April 30th tax deadline fast approaching, the federal government, and the Canada Revenue Agency appear to be committed to that date. Last year the filing deadline was extended in the first wave of the pandemic.
The CRA maintains there are important reasons for you to file your taxes before the end of the week. First among those are the benefits and credits to which you may be entitled. CRA says extending the deadline may slow down your eligibility for those.
If you’re a recipient of the Emergency or Caregiving benefit, those payments could be stopped if you don’t file on time.
Accountants across Canada have been calling on the government to extend the deadline. They argue the situation this year is considerably more complex than a year ago. In 2020, more than 90 per cent of taxpayers filed on time.
So far, those appeals have not had an impact.
Even if you don’t have all of your information, filing your return by midnight Friday is in your own self interest. Our tax experts are here to help you along the way.