The Canada Income Tax deadline is today! Here are some things to know.
Taxes are to be filed by today, April 30th, 2021. If you have missed filing your taxes on time, you can still file…but do so as soon as possible to avoid potential penalties.
Here are some things to know:
- If you owe taxes because of COVID-19 related benefits, the Canada Revenue Agency is giving people 1 year of interest relief. This means interest will not be added to your debt until April 30th, 2022. This gives you a year to pay all or a portion of the debt without penalty.
- If you are eligible for the GST/HST Credit or the Canada Child Benefit, it will not be garnished to pay tax debt for the foreseeable future. The only way to get these credits and benefits is to file your taxes.
- If you are receiving COVID-19 related benefits, like CRB, the Canada Revenue Agency will need your 2020 tax information to determine if you are still eligible for these programs. Missing the April 30th deadline could delay you receiving those benefits for up to 2 months. But you can still file after April 30th. Do so as soon as possible.
- Many of the FREE Community Volunteer Income Tax Clinics in Bruce County and Grey County continue past April 30th. Call 211 for more information about your closest income tax clinic or visit https://centraleastontario.cioc.ca/record/GRE0364.
If you are experiencing financial struggles and are interested in learning more about debt options, budgeting, etc – reach out to Caroline, our Financial Literacy Program Coordinator at email@example.com or 519-378-4773. She can help you look at your financial situation and decide on a path forward.
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To see past #FinancialFridays blog posts on a variety of financial related topics, visit: