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Federal tax returns are required to be filed by all Canadians who have a balance due or file to recover overpaid taxes or refundable tax credits. Provincial taxes for the whole year are based on your province of residence on December 31.
A taxpayer’s failure to have its waiver of appeal set aside reaffirms that validly negotiated settlements between taxpayers and the Canada Revenue Agency (CRA) are not to be questioned by the courts.
No, in fact, the Tax Filing Due Date can vary.
Even though proprietors and their spouses have until June 15 to file their returns before late filing penalties kick in, it makes sense to file by midnight April 30 with all other taxfilers to avoid interest charges if you have a balance due.
Proposed changes to the Income Tax Act will oblige taxpayers to report “avoidance transactions” if the transactions include two of three existing “hallmarks.”