Who has to file income taxes? 

  • You have to pay tax for 2020
  • You received a request to file a return
  • You and your spouse or common-law partner elected to split pension income for 2019
  • You sold property or realized a taxable capital tax gain
  • You have not repaid any of your Old Age Security (OAS) or Employment Insurance (EI) benefits
  • You have not repaid all of the amounts you withdrew from your Registered Savings Plan (RRSP)
  • You have to contribute to the Canada Pension Plan (CPP)
  • You received Working Income Tax Benefit (WITB) advance payments in 2019, and you want to apply for WITB advance payments for 2020
  • You want to receive a refund
  • You want to apply for the Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit
  • You or your spouse or common-law partner wants to begin or continue receiving Canada Child Tax Benefit
  • You have incurred a non-capital loss and you want to be able to apply in other years
  • You want to carry forward or transfer the unused part of your tuition, education or textbook amounts
  • You want to report income in order to contribute to your Registered Retirement Savings Plan (RRSP) so that you can keep your RRSP deduction limit for future years
  • You want to carry forward unused investment tax credit
  • You are applying for the Ontario Energy and Property Tax Credit

Filing For Previous Years

File your previous tax returns. Don’t let another year go by, call us today.

Tax returns can be prepared and filed for up to 10 prior years.

You may be entitled to:

  • Income Tax Refund
  • GST/HST Credits
  • Ontario Trillium Benefits
  • Child Tax Benefits 

If you are missing T-slips, we will contact the CRA on your behalf to get the missing information.  

Canada Income Tax Filing Deadlines and Dates 

Filing Deadlines:

  • April 30 (most filers)
  • June 15 (self-employed filers and their spouses or common-law partners)
  • June 30, (TFSA return)
  • July 02 (TFSA return)

Canada Child Tax Benefit & Universal Child Care Benefit Payments  

  • January 19
  • February 20
  • March 20
  • April 20
  • May 18
  • June 20
  • July 20
  • August 18
  • September 20
  • October 19
  • November 20
  • December 13

Working Income Tax Benefit Payments: 

  • January 5, 
  • April 5
  • July 5
  • October 5

GST/HST Credit Payments: 

  • January 5
  • April 5
  • July 5
  • October 5

Quarterly Tax Installments  

Tax installments are periodic income tax payments that the individual tax payer has to pay to cover the taxes that they otherwise would have to on April 30th of the follow year.You may have to pay your taxes in installments if not enough income tax was withheld from your income. These amounts may be based on the least of prior year, current year or, 2 years back for first 2 payments and 1 year back for the last two. For HST annual filers, they must do HST installment payments if they paid over $3,000 in HST for the prior tax year. How do you calculate these amounts? Take the amount and divide by 4. You then pay 4 equal amounts on April 30th, July 30th, October 30th and January 30th of the next year. The rule is you must pay by the 30th day after the end of each calendar quarter. With both personal taxes and HST payments, you pay more taxes or get a refund depending on the figures in your personal tax and HST final returns. If you didn't pay taxes in installments and If the CRA has determined that you might have to pay your taxes in installments, they will send you an Installment Reminder that suggests the amounts and the dates the payments are due.The installment threshold for individuals has increased to $3000 or $1800 if you were a resident of Quebec.

Installment Payment Due: 

  • March 15
  • June 15
  • September 15
  • December 15
  • December 31 (farmers and fishers pay only once on Dec.31)

RRSP Contribution Deadline: 

  • February 28  

Filing Late Tax Returns & Penalties For Late Tax Returns  

  • Interest
  • If you have a balance owing for 2020, you are charged compound daily interest starting May 1, 2021, on any unpaid amounts owing for 2020. This includes any balance owing if your return is reassessed. In addition, you will be charged interest on the penalties starting the day after your return is due. The rate of interest you are charged can change every three months. If you have amounts owing from previous years, they will continue to charge compound daily interest on those amounts. Payments you make are first applied to amounts owing from previous years.
  • Late-filing penalty
  • If you owe tax for 2019 and do not file your 2020 return on time, you will be charged a late-filing penalty. The penalty is 5% of your 2020 balance owing, plus 1% of your balance owing for each full month that your return is late, up to a maximum of 12 months.
  • If you were charged a late-filing penalty on your return for 2017, 2018, or 2019, your late-filing penalty for 2020 may be 10% of your 2020 balance owing, plus 2% of your 2020 balance owing for each full month that your return is late, up to a maximum of 20 months.
  • Failure to File Income Tax & Penalty for Not Filing Taxes
  • If you owe tax for 2020 and do not file your return for 2020 on or before May 2, 2021, the CRA may impose penalties and interest. They will charge you a late-filing penalty. The penalty is 5% of your balance owing, plus 1% of your balance owing for each full month that your return is late, up to a maximum of 12 months. Your late-filing penalty may be higher if you were charged a late filing penalty in any of three previous years

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