Missing the Canadian tax filing deadline can cost you money — even if you are owed a refund. This guide covers every deadline you need to know for the 2024 tax year, including what happens if you are late and how to avoid penalties.
The filing deadline for most individual Canadians. This applies to employees, retirees, students, and most other filers. If April 30 falls on a weekend, the CRA extends the deadline to the next business day — but in 2025, April 30 is a Wednesday.
Even if you have an extended filing deadline (e.g., self-employed), any balance owing must be paid by April 30 to avoid interest charges. Interest accrues at the prescribed CRA rate from May 1 onward on any unpaid balance.
If you or your spouse/common-law partner had self-employment income in 2024, you have until June 15 to file your return. However, interest on any balance owing still starts accruing on May 1, so pay your estimated balance by April 30 regardless.
To claim an RRSP deduction on your 2024 tax return, contributions must have been made by March 1, 2025. Contributions made between March 2 and December 31, 2025 apply to your 2025 return.
Filing late when you owe taxes triggers an automatic late-filing penalty from the CRA. The penalty is calculated as follows:
For example, if you owe $3,000 and file three months late, the penalty would be $150 (5%) + $90 (3 x 1%) = $240, plus ongoing interest on the unpaid balance.
There is no CRA penalty for filing late when you are owed a refund — but you are simply delaying money that is yours. The CRA will still process your return and issue the refund, but the longer you wait, the longer you wait for that money. Additionally, benefits like the Canada Child Benefit, GST/HST Credit, and provincial credits are recalculated based on your filed return. Delay filing and you delay receiving those payments.
| Situation | Filing Deadline | Payment Deadline |
|---|---|---|
| Most individuals (employees, students, retirees) | April 30, 2025 | April 30, 2025 |
| Self-employed (or spouse is self-employed) | June 15, 2025 | April 30, 2025 |
| Deceased (died January 1 – October 31) | April 30, 2025 | April 30, 2025 |
| Deceased (died November 1 – December 31) | 6 months after date of death | 6 months after date of death |
| Bankrupt individual (year of bankruptcy) | April 30, 2025 | April 30, 2025 |
Starting May 1, 2025, the CRA charges compound daily interest on any balance owing from the 2024 tax year. The interest rate is set quarterly and is typically higher than bank prime rates. There is no grace period — interest starts immediately after the payment deadline.
The prescribed interest rate for overdue taxes has been in the 9–10% range in recent years, compounded daily. This makes paying on time (or setting up a payment arrangement) critical if you have a balance owing.
If you cannot pay your full balance by April 30, contact the CRA before the deadline to arrange a payment plan. The CRA will still charge interest, but setting up an arrangement can prevent enforcement action like wage garnishment or bank account freezes. You can arrange a payment plan through CRA My Account or by calling 1-800-959-8281.
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Get KOHO Free — Use Code 45ET55JSYAThe CRA does not grant general extensions like the IRS does in the United States. The only automatic extended deadline is for self-employed individuals (June 15). In extraordinary circumstances, you can contact the CRA to discuss your situation, but interest continues to accrue regardless.
You can still file late returns for previous years. There is no statute of limitations on filing. If you have unclaimed refunds, the CRA will issue them. If you owe money from prior years, penalties and interest have been accumulating — it is best to file and contact the CRA to set up a payment arrangement.
Canada does not have a formal extension process. The only way to avoid late penalties is to file your return (or at least pay your estimated balance) by April 30. Filing the return late with no balance owing does not trigger any penalty.