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Taxes Delayed, Money Lost

in Income Tax

This year (2020) is a very odd year in terms of submitting your taxes. Thanks to the COVID19 outbreak, the current official date for submitting your 2019 taxes is: June 1, 2020 (check the link for any updates)(you only have to pay on September 1st though). Just remember Taxes Delayed is Money Lost (to you).

get your taxes done
Tax Time

September 1st, is the date when you must pay your taxes if you owe money. If you are owed a rebate, what are you waiting for? There are so many good reasons to do your taxes now:

  1. If you are owed money, and are unemployed due to the Pandemic, you really could use the tax free money, right?
  2. If your tax return is simple, why not do it now. You know the CRA is busy doing other things as well, but they are pretty quick on returns.
  3. Most of your specific information is on your My CRA account, you can pretty much do it, with that data (if you are missing data)
  4. If you owe money, better to know now what you owe, and then you can plan accordingly. The CRA will send you a response, and you could even appeal if you feel they are wrong.
  5. See (1) again, and re-read a few times if you are not sure.

Do you like loaning the government your money? Why are your Taxes Delayed ?

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