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Ever find yourself caught up in life as a freelancer, only to realize that tax season slipped through the cracks? It happens to the best of us! But fear not – we’re here for you.

In this guide, we’ve created a stress-free comeback plan to get your taxes back on track. Let’s navigate the world of post-deadline filings together! πŸ’ͺπŸ’ͺ

What to do if you’re Late on Taxes

You Can Still File! 🌟

Missed the deadline? It’s not too late! If you’re expecting a refund and haven’t filed, there are no penalties or interest. If you owe the CRA, file ASAP to dodge additional late fees and interest charges.

You can visit this page from the CRA to find out the exact penalties owed.

Keep Your Documents Handy πŸ“‘

Getting your documents in order – that’s half the battle won! Now that you’ve conquered that, the rest will be a breeze. Here’s a list of what to keep handy:

  • personal info (your SIN, last year’s return, date of birth)
  • income info (T4, rental income, pension, RRSP, investments)
  • self-employed income info (T2125, T5013, T4A)
  • receipts (RRSP contributions, expenses, donations, tuition)
Know the Tax Deadlines πŸ—“οΈ

Now that you’re back on track with your taxes let’s keep the good vibes rolling and steer clear of those pesky late penalties in the future. Grab your calendar and jot down those essential tax deadlines – because staying ahead means more peace of mind and less hassle.

Check out our blog post for all the 2024 tax deadlines you need to know!

Don’t forget, even if you can’t afford to pay your balance, file before the deadline to avoid additional charges and fees. You can also choose to pay in instalments rather than one large amount.

Ask for Help 🀝

It’s always ok to ask for help! Reach out to support@sai.cx, and we will get you in contact with our tax expert to help you get caught up.

Want to avoid filing late in the future? Sign up for Sai! (join our early access mailing list, we will be launching soon)