In Canada, you should have your taxes and in to the CRA by April 30th. Occasionally there are extensions, but it does not appear to be the case for this year. Get on with it, and get your taxes done.
If you are ill, disabled or unable to file your taxes, you can ask for an extension, but it is better to get your taxes done on time. Why is it important? Let me quote the Canada Revenue Agency directly:
If you do not file your return on time (see exception to the due date of your return), your goods and services tax/harmonized sales tax (including any related provincial credits), Canada child benefit payments (including related provincial or territorial payments), and old age security benefit payments may be delayed or stopped.
I know a few folks who don’t usually submit their taxes on time and here are some of the excuses I have heard about not doing your taxes on time.
I didn’t get my T4
Doesn’t matter, you are supposed to go to the CRA site and see what data they have for you. Yes, employers not getting important data to you on time is annoying, but this is not a valid excuse. You can log onto your CRA account on line and see if they have your T4 information.
If you get incorrect information, all you can do is file with the information you have and send in a correction later. This year many Civil Servants are getting Phoenix’ed again, by getting T4 receipts with incorrect information (including CRA employees). Not ironic, but interesting.
The dog ate my T4 is also not a valid excuse.
Saying you are waiting for data so you can get a bigger refund is foolish as well. You can always file for a correction later, get it done now.
I don’t owe money, so I can do it later
So you enjoy making long-term no-interest loans to the Government? You also enjoy not getting your Government benefits? Are you really sure that you don’t owe money? The assumption that your employer did your tax forms correctly is admirable, but are you sure? If you are a Civil Servant I would never make that assumption.
Not enough time to get it done
So you are one of the 1% and your taxes are really complicated? If you have a job, a wife, kids and little or no investments, your (and your spouses) taxes can take less than an hour to do. There are plenty of free community workshops that can help you get it done. Spend the hour or two and get it done.
It is far too complicated for me
When I first did my taxes, I was petrified of the whole process. I had to manually calculate and fill out (in pen) my entire tax form. These days, you can get free software to get your taxes done. You can do it all for free, and most of the software are relatively straight-forward to use.
You don’t need a calculator, white-out, erasers, pencils or anything else, just a computer or access to someone who can do it for you. Ask a family member who may have a copy of Quicktax, they can typically submit for you (at not extra charge). Our Church offered a tax clinic that helped you fill in your tax return (if you make < $40K).
Fast Cash Back?
Please don’t go to the Fast cash back scams run by a few companies. Wait for your refund, and get all the money you deserve, when you get your taxes done!
I Can’t Get Into My CRA!
Yes, as I have run into many folks can’t log into My CRA. Most folks should have access now, if you don’t guess you’ll be on the phone with the CRA for a while? Sorry.
I am working on that part of the equation.
Last year it was the other way around
Sorry, I already got my cash back from the CRA & RRQ
Don’t apologize, rejoice that you are done, and then feel a pang of anguish because you loaned the government money (i.e. you got cash back).
Maybe not a pang of anguish, maybe a short stab of anxiety about whether you owe or are owed money.