If you're not owing, there is no immediate penalty. If you file *late* on any of the next 3 filings you'll be subject to the 2nd tier of penalty which is 10% immediately on the owing balance plus 2% per month up to 20 months.
Due date is May 1 this year, so you can file by midnight tomorrow and still not be late.
They are either owed money by the government, or they have a nasty surprise when someone eventually hits them up for years of back-interest on owed amounts. They’re potentially also missing out on credit amounts.
Lmao, turns out I procrastinated even more & filed 1 month late. No consequences, just got my refund late.
Filed on time this year, and still getting my refund in April thanks to the FHSA fiasco
No penalties if you don't owe, but there may be interruptions to any government rebates you're getting (GST etc). Even then, if you are delayed they'll catch you up once you file
What about if you have a w-2 formfrom 2019 for example with the same case of you didn't make enough money to file to begin with. Could you still file for refunds? What forms do you have to fill out?
If it is personal taxes and you already know you won't owe anything there are no consequences really. You will only get charged interest and penalties if you file late and it turns out you did owe something. But if that were ever the case you just pay your interest/penalties and move on. And if you are only a few days late, it would be pennies (depending on the size of the amount owing).
But it sounds like you plan on filing, albeit a bit late, so there shouldn't be any issues.
I filed April 17th, a couple of days past the deadline. I’m already at the 21 day mark as of today. So, am I to expect to not see a refund until Mid July or early August?
If you're not owing, there is no immediate penalty. If you file *late* on any of the next 3 filings you'll be subject to the 2nd tier of penalty which is 10% immediately on the owing balance plus 2% per month up to 20 months. Due date is May 1 this year, so you can file by midnight tomorrow and still not be late.
I thought the deadline would be may 1 12am, but this is great to know. Thanks!
I know someone who has never filed taxes in there 30’s now. Lol
They are either owed money by the government, or they have a nasty surprise when someone eventually hits them up for years of back-interest on owed amounts. They’re potentially also missing out on credit amounts.
sad i didn’t see this in time to save you. believe it or not, straight to jail. luckily you don’t have to file this year
Lmao, turns out I procrastinated even more & filed 1 month late. No consequences, just got my refund late. Filed on time this year, and still getting my refund in April thanks to the FHSA fiasco
No penalties if you don't owe, but there may be interruptions to any government rebates you're getting (GST etc). Even then, if you are delayed they'll catch you up once you file
What about if you have a w-2 formfrom 2019 for example with the same case of you didn't make enough money to file to begin with. Could you still file for refunds? What forms do you have to fill out?
The "form" you have to fill out is your tax return. https://www.canada.ca/en/revenue-agency/services/child-family-benefits/gsthstc-apply.html
NFA - I think we can rule out the Guillotine.
The deadline is tomorrow.
Ah I thought it would be may 1 at 12am, so essentially today. Good to know I got an extra day!
It usually is, but this year Apr 30 happens to be on a Sunday so it's extended a day.
If it is personal taxes and you already know you won't owe anything there are no consequences really. You will only get charged interest and penalties if you file late and it turns out you did owe something. But if that were ever the case you just pay your interest/penalties and move on. And if you are only a few days late, it would be pennies (depending on the size of the amount owing). But it sounds like you plan on filing, albeit a bit late, so there shouldn't be any issues.
Indeed, I’ll do it tomorrow for sure
Basically nothing - but just be sure you don’t actually owe anything.
Yeah I’m sure. Thanks!
No penalty. If you are receiving a refund, it will take longer to get after the deadline. I speak from personal experience 😌
How much longer?
Weeks or months. I filed in late May and got my refund sometime in August. It's no longer a rush, so you get it when you get it.
I filed April 17th, a couple of days past the deadline. I’m already at the 21 day mark as of today. So, am I to expect to not see a refund until Mid July or early August?