Last chance to file taxes on time

April 30th is the traditional deadline for filing your taxes, but Monday is the final day to get your taxes in.

That’s because April 30th was a Saturday, so Canada Revenue Agency has extended the deadline to today.

Spokesperson Gurpreet  says your return will be considered on time if it is received or postmarked on or before May 2.

If you owe money and you don’t file on time, you will be charged five per cent on the balance owing, plus one per cent for each month you are late.

On the other side, if you are getting a refund, Plaha says filing on time means there will be no delay or stoppages to the credits or benefits you are entitled to.

For anyone who worked from home either part time or full time, you can claim expenses.

The flat rate method is $2 per day to a maximum of $500 to offset any home office expenses, if you worked from home more than 50 % of the time for four consecutive weeks.

Plaha considers this the easiest method, because you don’t have to hang on to any receipts, but says if you would like a more detailed method, you can check it out on the CRA website.

(With files from CJWW Radio)

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