On Air Now

World's Best Weekend

1:00am - 8:00am

  • 519-537-1047

Now Playing

Tax Deadline Midnight Tomorrow

It's crunch time for Canadians who haven't filed their 2011 income taxes. The deadline is midnight tomorrow. If you miss the deadline and you owe money, you'll be hit with a five-per cent penalty plus one per cent interest for each month over the deadline. As of last Monday, Canada Revenue Agency had processed about 14-million returns -- a little over half the total number it expects to receive. Two-thirds resulted in refunds, with the average being a little over 15-hundred dollars. Accountants say Canadians who are in line for a refund have an extra incentive to file on time. Because no interest is paid on refunds, filing late extends the interest-free loan they're making to the government.

More from Local News

Weather