Tax Return deadline for the 2015 tax return
Generally, your return for 2015 has to be filed on or before April 30, 2016. For the 2015 taxation year April 30th due date falls on a Saturday, and CRA will consider your return to be filed on time if we receive it or it is postmarked on the next business day or May 2, 2016.
If you or your spouse or common-law partner carried on a business in 2015 has to be filed on or before June 15, 2016. However, if you have a balance owing for 2015, you have to pay it on or before April 30, 2016.
Filing Late Tax Returns & Penalties
If you have a balance owing for the year, you are charged compound daily interest starting May 1 on any unpaid amounts owing. This includes any balance owing if your return is reassessed. In addition, you will be charged interest on the penalties starting the day after your return is due. The rate of interest you are charged can change every three months. If you have amounts owing from previous years, they will continue to charge compound daily interest on those amounts. Payments you make are first applied to amounts owing from previous years.
If you owe tax and do not file your return on time, you will be charged a late-filing penalty. The penalty is 5% of your current tax year balance owing, plus 1% of your balance owing for each full month that your return is late, to a maximum of 12 months.
If you were charged a late-filing penalty on your return for any of the previous three years your late-filing penalty for this year may be 10% of your current tax year balance