TORONTO, April 23 /CNW/ -
- Anyone receiving the GST credit or the Child Tax Benefit (CTB) should
file a return by April 30 in order to continue receiving these
benefits on time.
- Any senior receiving Guaranteed Income Supplement (GIS) through Old
Age Security should file on time to ensure their benefits continue
- Students applying for a provincial/federal loan should ensure they
file on time so processing their OSAP request is not delayed. This
would include their parents as well since their tax returns are
reviewed by the processing centre.
- Self-employed individuals and their spouses have until June 15 to file
a return. However, if they have a balance owing, the Canada Revenue
Agency (CRA) will charge interest on the outstanding balance as of
April 30 but they will not be assessed a late filing fee.
- Late filing penalties are five per cent of the balance owing, plus one
per cent for each full month that the return is late, to a maximum of
12 months. The CRA will also charge interest.
A local H&R Block tax professional can talk about more last minute tax
About H&R Block Canada
H&R Block Canada prepares nearly two million tax returns annually, making
it Canada's leading tax preparation firm. Headquartered in Calgary, Alberta,
the company serves Canadian taxpayers in more than 1,000 offices across the
country. H&R Block Canada Inc. is a subsidiary of H&R Block, Inc., a
diversified company with subsidiaries providing a wide range of financial
products and services. Additional information about H&R Block Canada is
available at 1-800-HRBLOCK or visit www.hrblock.ca for more tax tips.
For further information:
For further information: Tina Quelch, Calador Communications, (416)