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What are the implications with CRA if I owe (say) $10,000, and pay $5,000 before the the filing deadline and the other $5,000 after the filing deadline sometime!?

 
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fuzzy
New Member

What are the implications with CRA if I owe (say) $10,000, and pay $5,000 before the the filing deadline and the other $5,000 after the filing deadline sometime!?

As long as you file your return on time there will be no late filing penalties.  However, you will be assessed interest on any taxes that are not paid by the filing deadline.

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1 Reply
fuzzy
New Member

What are the implications with CRA if I owe (say) $10,000, and pay $5,000 before the the filing deadline and the other $5,000 after the filing deadline sometime!?

As long as you file your return on time there will be no late filing penalties.  However, you will be assessed interest on any taxes that are not paid by the filing deadline.