The Canada Revenue Agency (CRA) has given financial advisors and their clients five more days to file their 2014 tax return electronically as a result of a human error.
The deadline, which has now been extended to May 5 at 3 a.m. ET, stemmed from a press release that the CRA issued on Fri. April 24 that said the deadline for filing tax returns electronically was May 5 at 3 a.m. That was an error, so the CRA issued a new statement on Mon. April 27 stating that the deadline was, in fact, April 30.
However, this caused much confusion among tax specialists and taxpayers, so Canada’s minister of national revenue has since come out and informed Canadians that they should not be penalized for the CRA’s error and now have until May 5 to file their taxes.
Clients who have self-employment income, and their spouses or common-law partners, still have until Mon. June 15 at 12 a.m. ET to file their income tax and benefit returns electronically.
Meanwhile, anyone who has a balance owing for 2014 should note that it must be paid on or before April 30.