Landing Page Forums Personal and Business Tax Matters Individual Tax What happens if I don't file my Canadian income tax on time? Reply To: What happens if I don't file my Canadian income tax on time?

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Robert
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If an individual does not file his/her taxes on time, a late-filing penalty will be charged along with interest accruing on the outstanding balance. The late-filing penalty is typically 5% of the balance owing (plus 1% per month up to a maximum of 12 months).