In light of some statistics I just checked (Based on latest Tax Year 2012 available), the CRA paid out $42.8 Billion in refunds.

Is April 30th REALLY the deadline for filing your taxes, or is it the deadline for paying your taxes ?

Answer

It is the filing deadline, despite the information you have posted on your website. While there is no penalty or interest charged on late filing if you do not owe, you can still be penalized at a higher rate for repeated late filing if you owe in a future year because they still count as late returns.

There are certain things that are elective claims that you can no longer claim after 3-4 years if you do not make the claim, such as pension splitting, CPP and EI overpayments, etc... and if you file anytime in 10 years it is too late to claim refunds you may be entitled to.

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