Your personal income tax return for the 2016 calendar year is due on May 1, 2017. It is wise to file on time. I have had people over the years tell me that they do not owe any money so there is no reason for them to file. First of all, you could be wrong about owing money. Perhaps you have forgotten about something. I have had clients who did not owe any money until their T4 was revised – and then they owed money. A T4 or T5 slip can be revised months or years after it is issued so don’t rely on the first one you get to be sure that you don’t owe any money. File on time. There is no better strategy for avoiding a late filing penalty. CRA has many powers, but they cannot call a return late if you can prove you filed on time.
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