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Canada's Tax Filing Deadline Is Later Than Usual In 2023 — Here's What Happens If You Miss It

You will owe more, unfortunately.

Staff Writer
Canadian money displayed on a table.

Canadian money displayed on a table.

Tax season is on the horizon and with it a mountain of stress and paperwork that nobody enjoys, except maybe the people who make money off of handling it all for us. Typically, your income tax return is due on a date that everyone knows: April 30, the last stand of adult procrastinators across North America. But in some years, that hallowed Canada tax filing deadline falls on a weekend.

In those cases, the tax filing deadline is pushed to the next business day. In 2023, April 30 falls on a Sunday, so our income tax filing deadline this year is May 1, 2023, per the Canada Revenue Agency (CRA). If you miss the filing deadline, you're subject to a penalty. For the 2022 tax year, the penalty was equal to 5% of an unpaid balance.

Late filers were also liable to "an additional 1% penalty" for each month their return was late, for a maximum of 12 months.

When tax filing due dates fall on a weekend or public holiday, the CRA says, "your payment is due by the first business day after April 30." The CRA also advises that "interest on your balance owing begins to accrue on the second business day."

There are a few exceptions to the April 30 (or May 1) deadline specifically for Quebec taxes. If you or your spouse "carried on a business" or earned income "as a person responsible for a family-type resource or an intermediate resource," then you have several extra months to file your tax return. The deadline is June 15 in these cases.

This article's cover image was used for illustrative purposes only.

    Willa Holt
    Staff Writer
    Willa Holt is a Staff Writer for MTL Blog focused on apartments for rent and is based in Montreal, Quebec.
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