3 Reasons Why You Should Still File Your Taxes Even If You Missed The Deadline
It's not too late!👇
Although Canada's tax deadline has already been and gone, that doesn't mean you should just forget about filing if you haven't done it just yet.
In a new message to Canadians, the Canada Revenue Agency (CRA) confirmed it's still possible to complete your tax return and said there are "several good reasons to do so."
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One reason to file even after the April 30 deadline is because you could be eligible for a refund, which you won't be able to access without filing your return.
You may also qualify for benefits or credits payments, too. Once your taxes are complete, the CRA will confirm whether you qualify for credits like the Canada child benefit (CCB) or the Guaranteed Income Supplement (GIS), among others.
Filing as soon as possible is particularly important for Canadians claiming COVID-19 benefits, as these payments could be paused while your eligibility is confirmed. Completing your tax return "reduces this risk," according to the CRA.
Before submitting your return, it's worth checking out these super common tax mistakes and finding out whether you can apply to claim one of Canada's tax credits or benefits.