What if I am late with my return?
Interest and penalties
If your return is late and there is a balance owing, you will be subject to interest and late-filing penalties. Interest is charged on the outstanding balance starting the day after the due date of the return, and is compounded daily. Interest rates are subject to change quarterly. For current rates, see the Canada Revenue Agency (CRA) web page which provides prescribed interest rates. The late filing penalty is 5% of the outstanding balance, plus 1% of the outstanding balance for every month that your return is late, to a maximum of 12 months (that would be a total penalty of 17% of the balance owing). If you were charged late-filing penalties for any of the 3 preceding tax years, your late filing penalties are doubled. For more information, see CRA's web page Interest and the late-filing penalty.
How to file a late return
Late returns can always be filed by sending a printed or manually prepared
return to CRA. Forms are available from the CRA
General Income Tax and Benefit
Package web page.
Telefile is available from early February until June 30th for returns for the
prior year.
EFile and NetFile are available from mid-February until September 30 for returns
for the prior year.