A few quick “Tax Fun Facts” (if there is such a thing!)

 

While the tax-filing deadline for most individuals is April 30th, since it falls on a Saturday, the tax-filing and payment deadline will be considered completed on time if the CRA receives it, or it is processed at a Canadian financial institution, on or before May 2nd, 2022. Last year, almost 30,000,000 individual tax returns were submitted.

 

We have until June 15th, 2022 to file a return if in your household, either you or your spouse or common-law partner are self-employed. But any payment owing is still due on or before May 2nd. It caught my attention that the CRA will consider it as "filed on time", as long as mailed submissions are post-marked on or before May 2nd.

 

Who is still mailing in paper copies of taxes I asked? In case you were wondering, as per the CRA, as of April 25th, 2022, more than 19 million individual income taxes have been submitted. More than 1.1 million (or 6%) of those still send by paper… Another plug to go paperless here at RBC DS as well!

 

 

So good luck with the returns, Avril and I continue to be available for all your last minute tax-queries.

 

We’ve had a lot of interest in the Inflation seminar, please click to register if you are able to attend on May 18th: https://rbcteams.webex.com/rbcteams/onstage/g.php?MTID=ebc7616fa0bddcfdb25810f7464a52de0

 

Have a great weekend!