Tuesday is the deadline for filing taxes without penalties



Posted on 04/30/2024 at 08:56

The late payment penalty is 5% of the outstanding balance on the day the statement is scheduled to be submitted, in addition to 1% added for each additional month of delay. (Photo: The Canadian Press)

Individuals who still haven’t filed their 2023 tax returns have until Tuesday evening to do so if they want to avoid penalties and interest.

The federal and Quebec tax return deadline for individuals is April 30.

This is also the deadline to pay any outstanding balance to avoid a penalty or interest.

Only the self-employed have until June 15 to file their tax return — since that date falls on a Saturday this year, agencies will consider returns received or sent by June 17 as timely.

Despite everything, from May 1, interest is calculated on any balance, even for the self-employed.

The late payment penalty is 5% of the outstanding balance as of the scheduled filing date, in addition to 1% added for each additional month of delay.

For people who don’t want to file their taxes for fear of not being able to pay their balance, Revenu Québec still advises them to file their returns by Tuesday evening to avoid penalties and interest.

By Sunday, Revenu Québec had received more than 5,522,000 tax returns, of which more than 5,061,000 were submitted electronically.





Source link

Leave a Comment