Late Tax Filing
Plain-language answers to the questions we hear most often. Can't find what you're looking for?
CRA can file a "notional" assessment on your behalf using estimated income from third-party data. This estimate is rarely in your favour. You also accumulate late-filing penalties (5% of the balance owed, plus 1% per month up to 12 months) and interest on any amounts owing. Filing voluntarily — even late — is almost always better than waiting.
There's no hard limit. You can file returns going back 10 or more years. CRA requires all outstanding years to be filed before they'll process refunds or issue benefit payments.
Yes. The Voluntary Disclosure Program (VDP) allows eligible taxpayers to come forward and correct past errors or omissions, potentially with reduced or eliminated penalties. PTC Canada can help assess whether you qualify and guide you through the application.
With your authorization, PTC Canada can log into your CRA My Account and retrieve available T-slips electronically. For older years or missing records, we can help reconstruct reasonable amounts from bank statements and other documentation.
Personal Tax Returns
April 30 for most individuals. If you or your spouse/common-law partner are self-employed, the deadline to file is June 15 — but any balance owing must still be paid by April 30 to avoid interest.
The most common: T4 (employment), T5 (investment income), T3 (trust income), RRSP contribution receipts, charitable donation receipts, medical expense receipts, and T2202 (tuition). If you have rental or self-employment income, you'll also need income and expense records for that activity.
Yes, under certain conditions. You must use a dedicated workspace in your home for employment duties, and your employer must certify this using Form T2200. The amount you can claim depends on your actual home expenses and the percentage of your home used for work.
Returns filed electronically (EFILE) are typically processed within 2–8 weeks. Paper returns can take 8–16 weeks or longer. PTC Canada files all returns electronically to speed up processing.
Small Business & Self-Employment
Once your worldwide taxable revenues exceed $30,000 in any single calendar quarter, or in four consecutive calendar quarters. You must register within 29 days of exceeding the threshold. Voluntary registration before that point is also an option and may benefit businesses with significant expenses.
Common deductible expenses include: home office (proportional to business use), vehicle expenses (business mileage), professional fees, advertising, tools and equipment, business insurance, and subcontractor costs. All expenses must be reasonable, supported by receipts, and have a clear connection to earning business income.
Yes. Self-employed individuals pay both the employee and employer portions of CPP contributions — effectively double the rate of an employee. This is reported on your T1 return and calculated on Schedule 8.
CRA Notices & Amendments
Don't ignore it. CRA letters range from simple requests for information to formal reassessments. Read it carefully to understand what's being asked or claimed. If you're unsure what it means or how to respond, contact PTC Canada — we can review the notice and advise on the appropriate next step.
Yes. You can request an adjustment to a previously filed return using a T1-ADJ form, or online through CRA My Account. PTC Canada prepares amendment requests, ensures proper documentation is included, and submits them correctly.
Generally 10 years from the end of the tax year being amended. So in 2026, you can amend returns as far back as 2016.
Still have questions about your tax situation?
