Canadian Tax Deadlines, Late Penalties and Interest

Key takeaways

File your 2026 return by April 30, 2027; June 15, 2027 if you or your spouse are self-employed
Everyone must pay any balance owing by April 30, 2027
Late-filing penalty: 5% of the balance owing plus 1% for each full month late, up to 12 months
Interest is compound daily; the CRA rate is 7% from October 1 to December 31, 2026
File on time even if you cannot pay; you can ask for relief within 10 years

What are the key tax deadlines for 2026 returns?

In Canada, the tax year for people is January 1 to December 31. You file the return in the spring of the next year. These are the main dates for the 2026 tax year, as of October 2026:

What	Date	Who it applies to
Online filing (NETFILE) opens for 2026 returns	February 22, 2027	Everyone filing online
RRSP contributions you can deduct on your 2026 return	March 1, 2027	People with RRSP room (not first-year newcomers, see below)
Filing deadline	April 30, 2027	Most people
Payment deadline for any balance owing	April 30, 2027	Everyone, including the self-employed
Filing deadline for the self-employed	June 15, 2027	You, or your spouse or common-law partner, ran a business
Tax instalments	March 15, June 15, September 15, December 15	Only people the CRA asks to pay instalments

The Income Tax Act lets you deduct RRSP contributions made up to 60 days after the end of the year. For 2026, the 60th day is March 1, 2027. As of October 10, 2026, the CRA has not yet posted this date; its RRSP dates page still shows the 2025 deadline (March 2, 2026). Check it again in early 2027. If a due date falls on a Saturday, Sunday or public holiday, the CRA treats it as on time if it receives it by the next business day.

New to Canada? Your first return is due April 30 of the year after you arrive. See the newcomer tax calendar for a month-by-month list.

What happens if you file late?

The CRA only charges a late-filing penalty if two things are true: you filed after the deadline, and you owe tax. If you are getting a refund, or your balance is zero, there is no late-filing penalty.

Filing late still has costs, even with no tax owing:

Your benefits and credits, such as the Canada Child Benefit and the Canada Groceries and Essentials Benefit, are based on your return. Payments can be delayed or stop.
Your refund comes later.
Your RRSP room for next year is not updated.

Not sure you have to file at all? Try the Do I need to file? quiz.

How much is the late-filing penalty?

Situation	Penalty
First time late	5% of the balance owing, plus 1% of the balance owing for each full month late, up to 12 months
Late again, after a CRA demand to file, and you were already charged a late-filing penalty in any of the 3 previous years	10% of the balance owing, plus 2% for each full month late, up to 20 months

These rules come from section 162 of the Income Tax Act.

Example: filing 2 months late

Ana owes $2,000 on her 2026 return. She files on July 20, 2027. That is 2 full months after April 30.

Penalty: 5% × $2,000 = $100, plus 2 × 1% × $2,000 = $40. Total penalty: $140.
Interest on the $2,000 from May 1 to July 20, 2027 (81 days): about $31, if the rate stays at 7%.
If Ana had a repeat penalty, it would be 10% + 2 × 2% = 14%, or $280.

If Ana had filed by April 30 and paid on July 20, she would owe only the interest.

How does CRA interest work?

If you do not pay your full balance by April 30, the CRA charges compound daily interest. It starts the day after the balance is due and runs until you pay in full. For 2026 returns, that means interest starts on May 1, 2027.

The CRA sets the rate every three months. From October 1 to December 31, 2026, the rate on overdue taxes is 7%.
The CRA usually does not collect a balance of $2 or less.

Interest also applies if you were asked to pay instalments and paid late or too little. You may have to pay instalments when your net tax owing is more than $3,000 ($1,800 in Quebec) in the current year and in either of the two previous years. Most employees do not need them, because tax comes off each paycheque.

What if you cannot pay by April 30?

File on time anyway. The late-filing penalty is based on your balance, so filing on time avoids it, even if you pay later. Only interest will grow.

Pay what you can by April 30. Every dollar paid stops interest on that dollar.
You can pay online through your bank, with the CRA’s online payment options, or in person at Canada Post with a QR code (fees apply).
If you cannot pay the rest, the CRA’s balance-owing page links to its options for managing tax debt, such as a payment arrangement.

Estimate your return early in the year so you know if you are likely to owe.

Which other penalties should newcomers know about?

Repeated failure to report income. Say you leave out $500 or more of income. If you also left out $500 or more in any of the three previous years, there can be a penalty. It is the lower of 10% of the amount you left out, or 50% of the tax you understated on it (minus any tax withheld on it). Foreign interest, rent or pension after you became a resident counts. See how to report foreign income.
Foreign property reporting (Form T1135). If your foreign property cost more than $100,000, a separate form is due with your return. It is not needed in the year you first became a resident. Check with the T1135 checker.
Instalment interest. This applies only if the CRA asked you to pay instalments.

Can the CRA cancel penalties and interest?

Yes, in some cases. You can ask for taxpayer relief if you could not meet a deadline because of:

extraordinary circumstances, such as a serious illness, accident or natural disaster
actions of the CRA, such as a CRA error or delay
inability to pay, or financial hardship

You must ask within 10 years from the end of the calendar year the penalty or interest relates to. Apply online in My Account or mail Form RC4288. Explain what happened and include proof. The CRA decides each case; relief is not automatic.

If you find a mistake or missing income on an older return, the CRA says a voluntary disclosure can let you fix it and may give relief. Details are on the CRA’s taxpayer relief pages.

Common deadline mistakes

Thinking June 15 means you can pay later. Self-employed people file by June 15, but tax owing is still due April 30.
Not filing because you cannot pay. This adds the late-filing penalty on top of interest.
Not filing because you earned little. There is no penalty, but your benefits can stop.
Contributing to an RRSP in your first year to cut tax. The CRA says you generally cannot deduct RRSP contributions in your first year of filing. See TFSA and RRSP room in your first year.
Waiting for paper mail. Set up online mail in CRA My Account so notices reach you faster.

Common questions

When is the 2026 tax deadline in Canada?

April 30, 2027 for most people. If you or your spouse or common-law partner are self-employed, the filing deadline is June 15, 2027. Any balance owing is due April 30, 2027 for everyone.

Is there a penalty for filing late if I get a refund?

No. The late-filing penalty is a percentage of your balance owing, so it is zero if you owe nothing. Your refund and benefits can be delayed, though.

How much interest does the CRA charge?

The rate on overdue taxes is 7% from October 1 to December 31, 2026. The CRA sets it every three months and compounds it daily.

What if the deadline falls on a weekend?

The CRA treats your return as on time if it receives it by the next business day. April 30, 2027 is a Friday.

Can I get late-filing penalties removed?

You can ask for taxpayer relief within 10 years if something beyond your control stopped you, if the CRA made an error, or if you face financial hardship. Use My Account or Form RC4288.

Sources

Checked against these sources on October 10, 2026. Spotted something out of date? Tell us.

Canadian tax deadlines, late-filing penalties and interest explained