It’s just a week left to file your tax return that means the deadline for doing your taxes is ending soon!  The Income Tax Act specifies the tax return filing deadline for personal income tax returns are due by April 30th, 2011 except for those of self-employed individuals for 2010 has to be filed on or before June 15, 2011. You should Avoid any unnecessary fees, penalties and interest that will be charged in case of late returns or late payments. There is still time to complete your return and do it as cost-effectively as possible. Go ahead and get a good return by filing before the deadline.

There are a couple of specific items that are due on 30th, April! 2010-2011 Canadian tax deadlines dates for April are as bellow:

  • April 30, 2011 – 2011 Tax Filing Deadline for personal income tax filing for the 2010 tax year.
  • April 30, 2011 – Payment to CRA of your balance owing for 2010 personal income tax is due April 30, 2011 for all personal income tax filers including self-employed.
  • April 30, 2011 – Due date for filing and remitting Goods and Service Tax / Harmonized Services Tax (GST/HST) for the prior quarterly reporting period. (Applicable to businesses, not personal tax.)

If you are filing online, Canada Revenue Agency (CRA) sometimes allows a grace period for those taxpayers who may experience delay in submitting their tax return online. Any amount owing is still expected to be paid by the deadline or due date to avoid any penalties. See the Canada Revenue Agency’s online home page for more information.

Whether you are tax expert, or a total noob, there are some ways to ensure you’re only paying what you need to during this time of year.

Some Tax Tips To Avoid and Adopt:

Keep your receipts and know your deductions! You know when co-workers are canvassing for their kids and you make a donation? You may find out of those were tax deductible. Those receipts will be great for putting towards your return. Got bus passes? Bring them in as well. Every little bit helps during tax time, so check out the great resources online and make sure you’re getting the best possible return.

Do it yourself to save and even earn! If you have a simple return or understand how the tax software works, why not file your taxes yourself? TurboTax Canada offers an inexpensive way of filling return that can cost you as little as $16.99! This will cut out the fee of an accountant and you may also gain even better knowledge about your financial situation. It is advised to do this if you’re confident in your abilities – and if you feel confident about then you may offer your services to your family and friends’ taxes, and make a extra cash for doing this!

Avoid instant payment! It may be possible while filing your taxes at certain locations, you may be offered with an instant-tax-refund, but beware because those instant refunds often come with a heavy cost. A cost you don’t need to pay if you just wait for your return to be delivered by the government.

Its better to early than wait! Always file your tax return on time but its better if you can submit your tax return as early as possible for you.

What is the due date for a personal income tax return because April 30th falls on a Saturday?

The due date for 2010 personal income tax returns is Monday May 2, 2011 this year! According to The Interpretation Act s. 26 of Canada Revenue Agency (CRA) that indicates that when the due date falls on a Saturday, Sunday or a public holiday, then the due date will be considered to be on the next business day.  The Interpretation Act s. 35(1) further defines “holiday” by listing the applicable statutory holidays, and indicates that Sunday is considered a holiday.  Although according to the Interpretation Act, Saturday is not considered a holiday.  However, the Canada Revenue Agency information on Important Dates for Individuals indicates that “When a due date falls on a Saturday, a Sunday, or a public holiday, we consider your payment to be paid on time or your return to be filed on time, if we receive it or if it is postmarked on the next business day.”

Many Canada Revenue Agency offices stay open until midnight on the personal income tax return filing due date to accept returns, but you should try to submit your return as soon as possible without waiting for the last minute.