Late Tax Filing in Canada 2025
Tax season in Canada comes with strict deadlines—and missing them can cost you. Whether you’re filing as an individual, self-employed professional, or small business owner, late tax filing can result in significant penalties, interest charges, and stress.
This guide explains what happens if you file late, how to minimize penalties, and how Assentt can help you get back on track with CRA compliance.
Tax Filing Deadlines in Canada
Here are the key tax deadlines you should know:
| Filer Type | Deadline |
|---|---|
| Individuals | April 30 |
| Self-Employed | June 15 (return) but payment due by April 30 |
| Corporations (T2) | 6 months after fiscal year-end |
📌 If a deadline falls on a weekend or holiday, it’s usually extended to the next business day.
Penalties for Filing Taxes Late
The Canada Revenue Agency (CRA) imposes penalties for late filing and late payment. These can add up quickly:
- 5% of your balance owing, plus
- 1% per month (up to 12 months) on the unpaid balance
What If You Can’t Afford to Pay Right Away?
Still file your return on time. This avoids the late filing penalty, even if you can’t pay in full.
Then you can:
- Set up a payment arrangement with CRA
- Use MyCRA online to view options and balances
Call CRA to negotiate a monthly payment schedule
Get Started Today
Mistakes happen—but the sooner you take action, the better the outcome. If you’re facing late filing penalties, interest charges, or uncertainty, know that there are remedies available and expert help just a call away.
📞 Contact Assentt today for a confidential consultation and take the first step toward tax peace of mind.
The information provided is for educational/entertainment purposes only. Actual information may vary, please consult our office for further details. Got a question? Feel free to reach us at helpdesk@assentt.com.
