Monday is Tax Return Deadline for Self Employed

By Andrew Rickard | June 11 2015 12:59PM

The Canada Revenue Agency (CRA) is reminding self-employed individuals that they must file their 2014 income tax return by Monday.

photo_web_1425The tax filing deadline for self-employed individuals and their spouses or common law partners is midnight on Monday, June 15. In a reminder bulletin issued earlier this week, the CRA pointed out that those with an outstanding balance for 2014 would have been required to pay it on or before May 5 in order to avoid owing interest.

Those who still have amounts owing will face a late-filing penalty if they do not meet the June 15 deadline. The CRA notes that taxpayers may be able to make their payments using their financial institution’s telephone or Internet banking service, or by using the CRA’s My Payment service.

The CRA is also encouraging taxpayers to file their returns electronically, and invites them to visit for a list of approved programs and web service options, some of which are free.