Personal Finance

Penalty filing taxes late if expecting a refund?

  • Last Updated:
  • Apr 30th, 2008 4:08 am
Tags:
None
Member
Oct 13, 2007
329 posts
1 upvote

Penalty filing taxes late if expecting a refund?

Hi there,

I've been trying to get a hold of a T4 form from my past work, and just now have a lead on were to get it. Partly my own silly procrastination :)

Will I be penalized for filing late if I am getting a refund? Would there be some delay in recieving my refund if I file late? Or should I (and can I?) file tomorrow without this T4?

Thanks!
5 replies
Newbie
Apr 24, 2005
72 posts
no penalty if you are getting a refund
delay would be based on their workload
don't know about your 3rd question.
Deal Fanatic
User avatar
Jun 7, 2001
6530 posts
617 upvotes
Alberta
*trish* wrote:
Apr 29th, 2008 9:07 pm
Hi there,

I've been trying to get a hold of a T4 form from my past work, and just now have a lead on were to get it. Partly my own silly procrastination :)

Will I be penalized for filing late if I am getting a refund? Would there be some delay in recieving my refund if I file late? Or should I (and can I?) file tomorrow without this T4?

Thanks!
If you are getting a refund, there is no penalty for filing late for most people. Penalty applies if you owe $$$ to the CRA.

The longer you wait in submitting an income tax return (especially now or later), you can expect your refund to arrive much later....Netfile is quite a bit faster than by mail though (if you are not restricted for Netfile).

Your T4 should have received in late Feb....all employers are suppose to get the T4s to their employees by this date. I would suggest that you get after your employer and get that T4 and then file your tax return. If you file without the T4, you need to followup later for an adjustment....this is why you should wait for your T4 to show and them submit.

Dave
Banned
User avatar
Jun 19, 2006
9349 posts
42 upvotes
If you are required to file a declaration concerning foreign income, and you fail to file a return before the deadline, the CRA has been known to assess a $2000 penalty for the late filing of the declaration, which is part of the return, irregardless of whether or not you will be receiving a refund.
Deal Addict
User avatar
Aug 1, 2007
1167 posts
72 upvotes
You can also contact the CRA directly to ask for your T4. They'll be able to send you a copy in a couple of days.
Newbie
Nov 16, 2002
51 posts
cmackie wrote:
Apr 29th, 2008 9:58 pm
You can also contact the CRA directly to ask for your T4. They'll be able to send you a copy in a couple of days.
If they have it on file then you can just ask for the amounts on the T4 as well without needing copies to be sent out. And yes, you can file the return without the T4.
× < >

Top