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Last updated: August 20 2020
Mini Tax Filing Rush Coming: 1.8 Million T1s Still Outstanding
Close to 2 million people still need to file their tax returns for 2019 before September 30 to avoid late filing penalties if they owe. That means there is still an “end of tax season” rush coming for busy tax professionals. CRA released tax filing and processing statistics on August 10 which also show the numbers for average refunds and balances due for the 2019 tax year.
That the average refund for 2019 was $1840 and the average balance due is $6,070.
Of the 28.5 million returns filed so far, 18.9 million or 66% of filers received a refund, 5.9 million or 21% owed money to CRA, and 3.8 Million or 15% filed a nil return. We are expecting that those numbers will shift significantly in 2020 for CERB recipients with income over the Basic Personal Amount who must pay taxes when they file next year.
Last year, for the 2018 tax filing year, a total of 30,346,932 returns were processed. Here are some statistics from the CRA on the 2019 tax filing year so far:
|
Returns processed from February 12, 2020 to August 10, 2020 |
|
|||
|
|
Number of returns |
Total dollar value |
Average amount per return |
Percentage of refunds |
|
Refund by cheque |
4,625,597 |
$8,389,670,553 |
$1,814 |
24% |
|
Refund by direct deposit |
14,269,616 |
$26,381,226,461 |
$1,849 |
76% |
|
Total refunds |
18,895,213 |
$34,770,897,013 |
$1,840 |
100% |
|
Balance owing |
5,936,530 |
$36,033,928,137 |
$6,070 |
n/a |
|
Nil return |
3,774,515 |
n/a |
n/a |
n/a |
|
Total number of current year returns processed 2019 over 2018: |
|
||||||||
|
Tax-filing season |
EFILE |
% |
NETFILE |
% |
FMR |
% |
Paper |
% |
Total |
|
2019 |
16,685,114 |
59% |
8,804,645 |
31% |
66,543 |
0% |
2,905,171 |
10% |
28,461,473 |
|
2018 |
16,276,753 |
58% |
8,485,520 |
31% |
47,195 |
0% |
3,133,947 |
11% |
27,943,415 |
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