All items tagged with: late filing penalties

CRA’s Quarterly Prescribed Interest Rate Increases: Avoid Late Filing Penalties

Posted: March 26, 2019 By : Walter Harder & Beth Graddon
Posted in: Breaking News, Strategic Thinking , CRA, tax filing, interest rate, CRA penalties, personal income tax, late filing penalties, interest on overdue taxes, prescribed interest rate

While the CRA has not yet announced the prescribed interest rate for the second quarter (April to June) in 2019, the rate is actually set by the average rate of three-month treasury bills in the first month of the preceding quarter, rounded to the next whole percentage point. Here’s what you need to know:

CRA Tax Penalties: Filing Late Has Costly Consequences

Posted: April 24, 2018
Posted in: Strategic Thinking , Financial Literacy, knowledge bureau, Evelyn Jacks, Essential Tax Facts, tax courses, tax education, Introduction to Personal Tax Preparation, CRA penalties, online campus, CRA interest rates, late filing penalties, interest on overdue taxes

Have you filed your 2017 taxes? With only a few days left before the April 30 filing deadline, if you haven’t, now is the time! The CRA’s late filing penalties are significant, and the interest rate applied to overdue taxes recently increased, making delayed filing a mistake you just can’t afford to make.