If you have not yet filed your taxes, you have just a few hours left to do so.
Monday, May 2, is the deadline to submit your 2021 taxes to the Canada Revenue Agency.
It is a couple of days later than usual since the usual deadline of April 30 fell on a Saturday.
Missing the deadline means you will get slapped with a late-filing penalty and interest on the balance owing.
The late-filing penalty is five per cent of your balance owing, plus one per cent for each full month you file after the deadline, to a maximum of 12 months.
According to CRA, filing late can also cause delays to your benefit and credit payments.
Canadians who are self-employed have until June 15 to file their taxes.
You can find more details by clicking here.
