What is the penalty for not paying my balance owing on or before April 30th?

Canada Revenue Agency charges a prescribed rate set quarterly on your balance owing, plus an additional 1% for every full month that your personal income tax return is not filed (maximum 12 months).

For more information, please follow this link: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/interest-penalties.html

 

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