Did you know…
If you owe money to the CRA Ensure you file your taxes and pay your owing on time.
Otherwise, you will endure a late filing penalty of 5% of your unpaid taxes, plus 1% per month for 12 months from the filing due date.
If you fail to file on time again within a three-year period.
The late filing penalty increases to 10% of your unpaid taxes, plus 2% per month for a maximum of 20 months from the filing due date.
Do you have any questions about income tax returns?
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