Tax Returns

Filing, Payments and Installments

Filing
The deadline for filing your personal tax return is April 30. Late filed returns are subject to a penalty of 5% of your balance owing, plus 1% for each full month that your tax return is late, to a maximum of 12 months. If a late-filing penalty was charged on your tax return for in any of the last three years, your late-filing penalty will be 10% of your balance owing, plus 2% for each full month that your return is late, to a maximum of 20 months.

Interest will be charged on any balance owing after April 30th. The current interest rate (January 1, 2009) is 6%.

Paper returns can be mailed to:
 Canada Revenue Agency
 Tax Centre
 PO Box 4000 STN Main
 Shawinigan QC G9N 7V9

Requests to change a return can be made by sending a letter or by completing form T1-ADJ and faxing it to CRA 1.819.536.7135

Payments
By mail (include your social insurance number)
 Canada Revenue Agency
 Ottawa Technology Centre
 875 Heron Road
 Ottawa, ON K1A 1B1

Electronically
Payments may be made by your financial institution's telephone or Internet banking services. To add CRA as a payee or biller, search using CRA or CCRA. Your account number is your nine-digit social insurance number. The types of payments are installments, arrears and payment on filing. Most financial institutions also allow you to schedule future dated payments.

Installments
You have to pay income tax by installments if your net tax owing will be more than $3,000 AND it was more than $3,000 in either of the two previous years. CRA will send you a reminder notice with a suggested installment amount based on your previous year’s return. Interest will be charged if required installments are not paid when your tax return is assessed.