NOTICE: Extension on Tax Filing

Due to CRA’s miscommunication regarding tax filing deadlines, they have granted an extension until midnight on May 5th instead of the original date of April 30th. All returns filed by midnight on May 5th will not incur interest and penalties on amounts owing in the 2014 tax year.

Please note the following amendments to the deadline the CRA has made for filing income taxes and benefit returns for the 2014 tax year:

 Individuals:

  • Penalties for late filing will not apply to individuals so long as returns are filed, by any method, by midnight on May 5th
  • Any amount owing for the 2014 tax year will not be charged interest interest between the period commencing April 30th, 2015 and upto/inclusive of May 5th, 2015

For self employed individuals:

  • Deadline to file taxes for the 2014 tax year for self employed persons and their spouses/common-law partners, by any method, is midnight on June 15th, 2015
  • Any amount owing for the 2014 tax year will not be charged interest between the period commencing April 30th, 2015 and upto/inclusive of May 5th, 2015

For further information on completing and filing taxes for the 2014 tax year, please refer to http://www.cra-arc.gc.ca/gncy/t1gtrdy/menu-eng.html.

If you have any questions or concerns, please feel free to call us at 416-495-1098 or e-mail us at info@apbs.ca.

The blogs posted on our website provide information of a general nature. These posts should not be considered specific advice; as each reader's personal financial situation is unique and fact specific. Please contact a professional advisor prior to implementing or acting upon any of the information contained in one of the blogs.

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