Can I file my Income Tax return for this year(2006) later or after april or next yeaR?
I believe your question was intended for Canadians, so far, the answers given have no relevance to Canadian Tax Laws. As Canadians, we are required to pay any taxes owing on our 2006 income tax return by April 30, 2007. Furthermore, information slips such as T4’s, T5’s, etc, must be reported in the year to which they belong and such amounts can’t be deferred. If you file your 2006 income tax return by April 30, 2007, and report ALL of your income, but are unable to pay the balance owing by April 30, 2007, then you will be charged interest on the amount of money due to CRA as of April 30, 2007. If you fail to report ALL income to CRA on your 2006 tax return, and as a result, end up owing taxes, 2 things will happen. Firstly, you will be assessed the taxes that you owe plus arrears interest. Secondly, you will also be assessed a penalty for failing to report ALL of your income. The penalty for failing to report varies, if you have any past history of failing to report income on prior yea
