What's the penalty for missing the deadline to file your personal income tax return?

You should always send us your tax return by the annual deadline. Even if you'll have a balance owing that you can't pay right away, you should still file on time to avoid the late-filing penalty.

The late-filing penalty is:

• 5% of the balance owing; and
• an additional 1% of the balance owing for each full month that your return is late, to a maximum of 12 months.
• NOTE: The penalty may be higher if you've already been charged the late-filing penalty in any of the three previous years.

If you missed the tax-filing deadline because of circumstances beyond your control, we may waive the penalty and applicable interest.

• In this case, include a letter of explanation when you do file your return.
• For more information, please see Information Circular IC07-1, Taxpayer Relief Provisions.
• You may also want to consult our Web site's Fairness Initiative module.