It allows you to spread out your payments over time, based on your ability to pay, until you've paid your debt and interest in full. A payment arrangement is an agreement between you and the CRA. If you can't pay your taxes in one payment, you may be able to set up a payment arrangement with us. To see all the payment options or to make a partial payment, go to canada.ca/payments. You can make partial payments to the Canada Revenue Agency (CRA) to reduce the amount of interest you need to pay on unpaid amounts. This applies to the tax owing for the 2020 tax year only, and not for any previous tax year. If you filed your 2020 return and qualified for interest relief, you have until April 30, 2022, to pay any outstanding income tax debt for the 2020 tax year to avoid future interest charges.
Since April 30, 2022, falls on a Saturday, in both of the above situations, your payment will be considered paid on time if we receive it, or it is processed at a Canadian financial institution, on or before May 2, 2022. If you or your spouse or common law-partner are self-employed, your payment is still due on April 30, 2022. If you receive such a notice, you should follow the payment directions provided in the letter. Some taxpayers may receive Notices of Redetermination from the CRA over the next two years that are related to Individual Emergency Benefits overpayments. If you have a balance owing, your payment is due on April 30, 2022. You have until June 15, 2022, to file your return if you or your spouse or common law-partner are self-employed. It is postmarked on or before May 2, 2022 Since April 30, 2022, falls on a Saturday, your return will be considered filed on time in either of the following situations: The tax-filing deadline for most individuals is April 30, 2022 Debts associated with COVID-19 Individual Emergency Benefits overpayments will not have penalties or interest assessed against the amount owing. Please note that penalties only apply if you file late or pay by instalments and your instalment payments are late or less than the required amount. Instead, let's work together to figure out what your options are based on your financial situation. If you ignore your tax debt, it will grow with interest charges and penalties. OTTAWA, ON, Ap/CNW/ - If you're struggling to pay your tax debt, we understand and are here to help regardless of your tax situation.