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Email this12:54 pm
January 25, 2024
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To my understanding taxes are due every year at around April 30.
But after filing taxes CRA site says: To avoid additional interest charges please pay by May 13, 2026.
So who is right and why this new due date is here?
Anybody ever paid taxes due after end of April without paying fine + interest (personal tax, not business or whatnot)?
1:00 pm
April 27, 2017
Online
Happens regularly. They are giving you a short grace period. Just pay April 30th. Don’t make it complicated.
1:27 pm
October 27, 2013
Online
If you ask AI Gemini, it says the following....
The Canada Revenue Agency (CRA) specifies April 30 as the legal deadline for filing and paying taxes to avoid penalties. The later date (e.g., mid-May) sometimes seen on a Notice of Assessment (NOA) is a "grace period" buffer to account for processing time, allowing taxpayers to pay the calculated balance without additional interest accruing after April 30, provided they filed on time.
Key Takeaways:
Official Deadline: April 30 is the legal deadline for payment, as noted by the CRA on Facebook.
The Buffer Date: The later date on your NOA is simply the date by which the CRA guarantees no extra interest will be added, as outlined in Understanding Interest on Canada.ca.
Risk Mitigation: The best way to avoid all penalties is to file and pay on or before April 30. If you cannot pay, filing on time prevents the 5% late-filing penalty.
Self-Employed: While you have until June 15 to file, any balance owing is still due by April 30.
In short: Always aim for April 30. The later date is a courtesy buffer if your assessment was finalized late, not a new official deadline.
2:47 pm
April 6, 2013
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April 30 is the deadline to pay the income taxes due. Any later date on notices is just time to avoid additional interest being charged from the deadline.
If one didn't pay by April 30 and CRA issues the notice of assessment on May 15, the notice may say pay amount owing and interest by June 1 to avoid additional interest. One still needs to pay interest for May 1 to 15.
If one also does not pay by June 1, then one will owe interest from May 1 to when one pays instead of from May 1 to 15.
CRA likely does that to recognize that Canada Post does not deliver the notices to the taxpayer the same day they are issued.
