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Time To Start Thinking About Your Tax Return For 2016

You should have received all of the slips and forms you need for tax filing purposes by now. You can now start working on your tax return for 2016, or make an appointment for the person who is going to do them for you.

Spokesperson for the Canada Revenue Agency Desmond Arseneault says you still have some time to get them completed, “The filing deadline has been extended to May 1st, because April 30th falls on a Sunday. Individuals who do have a balance outstanding at the end of the tax year, are subject to a five per cent penalty if you file late, as well as a one percent penalty for every month it is late.

Arsenault says you should always file a return, even if you haven’t received any income for 2016, because you may still qualify for some refunds or credits such as the Canada child benefit and the GST.

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May 7, 2026
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