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Apr 30, 2024 · Payment date for 2023 taxes. April 30, 2024: Deadline to pay your individual taxes.
- Interest and penalties on late taxes
The late-filing penalty is 5% of your 2023 balance owing,...
- Due dates for amounts you owe
Air Travellers Security Charge (ATSC) due dates. Remittance...
- Interest and penalties on late taxes
- Overview
- On this page
- Interest on taxes you owe
- Penalty for filing your tax return late
- Request to cancel or waive penalties or interest
You will be charged interest on any taxes that you owe if you pay late. You will also be charged a late-filing penalty if you file your tax return late and have a balance owing.
If you have a balance owing for 2023 and are unable to pay it by the April 30 payment due date, the CRA will charge you compound daily interest starting May 1, 2024, on any unpaid amount owing for 2023. This includes any balance owing if the CRA reassesses your return.
•If April 30 is on a Saturday, Sunday or public holiday
When the due date falls on a Saturday, Sunday or public holiday recognized by the CRA, your return is considered on time if the CRA receives it or if it is postmarked on or before the next business day. Your payment is due by the first business day after April 30. For more information, see Due dates and payments dates. Interest on your balance owing begins to accrue on the second business day.
The interest rate that the CRA charges on current or previous balances owing can change every three months based on prescribed interest rates.
If you file your tax return after the due date and have a balance owing, you will be charged a late-filing penalty. Filing late may also cause delays to your benefit and credit payments.
If you cannot pay your balance owing, you should still file on time to avoid being charged the late-filing penalty.
The late-filing penalty is 5% of your 2023 balance owing, plus an additional 1% for each full month that you file after the due date, to a maximum of 12 months.
If the CRA charged you a late-filing penalty for 2020, 2021 or 2022 and requested a formal demand for a return, your late-filing penalty for 2023 will be 10% of your balance owing. You will be charged an additional 2% for each full month that you file after the due date, to a maximum of 20 months.
You can make a request to the CRA to cancel or waive penalties or interest if you are unable to meet your tax obligations due to circumstances beyond your control.
The CRA can only grant relief within 10 years of your request date.
Air Travellers Security Charge (ATSC) due dates. Remittance due date for the Air Travellers Security Charge (ATSC) Date modified: 2024-09-26. Deadlines for paying your personal and business taxes and remittances, including instalments and balance due.
Nov 8, 2023 · As the tax deadline approaches on April 30th, ensure that any taxes owing to the CRA are paid by the April 30th deadline. You can make your online payment using any of the below methods: Online Banking. Many people use online banking to pay their monthly bills and expenses, and your taxes are no different!
Apr 30, 2024 · If you file your tax return after the due date and have a balance owing, you’ll be charged a late filing penalty. Those who file their tax return after the due date and have an owing balance will be charged a late filing penalty of 5%. An additional 1% will be charged for each full month that you file after the due date, to a maximum of 12 ...
Apr 10, 2024 · APRIL April 30th. Tax Filing Deadline For Individuals; The deadline to file taxes this 2024 in Canada for your 2023 income tax return. Tax Payment Deadline (if April 30th falls on a weekend) It is the last day to pay your taxes. You can pay your taxes online, in person, and by mail. Make sure to leave enough time for your payment to be processed.
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Apr 30, 2024 · However, you should still file your income tax return promptly to receive the amounts you are entitled to." If you filed your 2019 tax return by April 30, 2020, or have already filed, the payment of taxes could still be deferred till September 30, 2020. Support was announced for small businesses, employees, self-employed, etc.
