Are you one of the Almost 50% of Canadians Taking Advantage of the Tax Deadline Extension?

By Randall Orser | Personal Income Tax

A new survey commissioned by H&R Block Canada has revealed that 45% of Canadians still have to file their tax returns.  Millions of Canadians are taking advantage of the extended deadline to file their personal tax returns. As a result of the Covid -19 pandemic the usual April 30th deadline was extended to June 1st.  Self employed taxpayers and their spouses still have until June 15th to file.

This result is consistent with the CRA filing statistics which show that as of April 27th, 2020 they had received 15.5 million personal tax returns for the 2019 season, way less than the 28.4 total returns filed for the 2018 tax year.

The H&R Block survey also found that 10% of Canadians were not aware that the deadline had changed and 1 in 3 of this group had not yet filed.  Of those still to file 50% plan to do so after the original deadline but before the new one.  These people will avoid penalties for late filing, but you should still file as soon as possible especially those who need their refund, credits and benefits, the sooner they file the sooner they will receive these supports. 

The CRA data shows that up to May 1st,  92.1% of returns were filed electronically and almost 85% of the 14.1 million returns processed so far had either no balance owing or a refund due.  The average refund was $1800.

From an article by Jamie Golombek Financial Times May 1, 2020


About the Author

President/CEO Number Crunchers® Accounting Inc. Learn how to just say stuff it to this bookkeeping thing with our 'Just Say: "Stuff It" To Bookkeeping program.