The following information is out of date.
Information identified as archived on the Web is for reference, research or recordkeeping purposes. It has not been altered or updated after the date of archiving. Web pages that are archived on the Web are not subject to the Government of Canada Web Standards. As per the Communications Policy of the Government of Canada, you can request alternate formats on the "Contact Us" page.
You should always file your return and pay your taxes on time. It helps you save money, by taking advantage of tax credits and exemptions and avoiding possible interest and penalty charges.
If you have a balance owing for 2011, the CRA also charges compound daily interest starting May 1, 2012, on any unpaid amounts owing for 2011. Even if you cannot pay all of your taxes owing right away, you should still file your return on time and pay what you can. If you file on time, you will avoid the late-filing penalty.
No. However, regardless of the filing method that you choose, keep all your records for at least six years after the end of the tax year to support your claims in case the CRA reviews your return.
With CRA’s online services, you can file your return, track your refund, and change your personal information. You can also sign up for direct deposit to receive your refund in your account at your Canadian financial institution – no more waiting for cheques to arrive in the mail. It’s fast, easy, and secure. For more information, go to www.cra.gc.ca/getready.