The income tax deadline is approaching fast.
Canada Revenue Agency spokesperson Paul Murphy reminds you the deadline is April 30th this year, and filing late could impact any benefits you receive.
“Like the Canada Child Benefit, the GST credit, the Ontario Trillium Benefit. If you’re a senior, the Guaranteed Income Supplement. It’s really important to get your return in on time so that those payments don’t get interrupted,” he says.
Murphy says it’s also important to pay any taxes owed on emergency pandemic benefits.
“There was no tax withheld from those payments when they were paid out. So when you go to turn around and file your tax return, it is taxable income, you have to report it. You get a T4A slip in the mail, or a T4E depending on how you applied,” he adds.
Murphy says you could face penalties if you don’t file by April 30th.
