Tag Archives: tax filing

Procrastinators get 5-day tax filing reprieve from the CRA

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Colored background with traditional elements for may 5th. Vector illustration
May 5 is the extended tax-filing deadline this year

Every once in a while, procrastinators catch a break. Such appears to be the case for the one in five Canadians who still had not filed their calendar-2014 taxes as of the weekend.

(See the Hub’s Procrastinator’s Guide posted on Sunday/Monday, which touched on an H&R Block survey on last-minute filing.)

As I tweeted earlier today, due to a communications mixup where it had accidentally said the filing deadline was May 5th, the CRA now says it will honour that statement and officially make this year’s deadline May 5th, which is next Tuesday. You can find the short statement here on its web site and we’ve reproduced it below: Continue Reading…

A procrastinator’s guide to filing your taxes by the looming April 30th deadline: 1 in 5 still scrambling

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H&RBlockOne in five Canadians are scrambling to make this year’s tax-filing deadline, which is now just four days away.

You probably don’t need this site to remind you that the deadline is midnight this Thursday: April 30, 2015 is the last day for most Canadians to file their 2014 tax returns. (The American tax-filing deadline of April 15th has already come and gone).

According to an H&R Block survey, Canadians are master procrastinators when it comes to taxes. And the tax preparation firm is offering a free online solution to those same procrastinating filers.

3% won’t make the deadline

The survey revealed that one in five Canadians say they file just in time, with 3% saying they miss the deadline altogether. Who are the worst offenders? Continue Reading…

No April Fool’s: it’s time to get serious about tax-filing

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Tax Due DateHere’s my latest MoneySense blog. Now that it’s April and Easter is almost here, you know what that means! It’s tax-filing time: April 15th for Americans, April 30th for Canadians.

As the piece recounts, even if you’ve been staying on top of inputting tax slips and receipts, if you have taxable income you’re better off waiting a few days before filing.

But the good news is that once you file, the onerous task is over for another year, and many can also expect a refund. Plus, of course, winter is finally all but over.  Continue Reading…

Try to do a dry-run on your taxes today before RRSP contribution deadline passes

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Wealthy Nest EggBy Jonathan Chevreau

As every red-blooded Canadian investor surely must know by now, today is the last day to make an RRSP contribution for the 2014 tax year.

As I wrote for Motley Fool Canada/MSN Money in two pieces in February (one on RRSPs, the other on the looming tax-filing deadline), today (or better yet the weekend just passed) would be a good time to at least do a preliminary dry run on your taxes.

Why? If you’re a salaried employee, you should by now have received your T-4 slip, which means if you enter the slip into your tax program, you’ll have a pretty good idea of how much tax you’ve already paid and how much you may yet need to pay.

T-4s are here; time to stop procrastinating

Sure, the filing deadline isn’t until Thursday, April 30th, roughly two months from now. But if you wait even until tomorrow, it will be too late to check out your past RRSP contributions Continue Reading…