The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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Air Canada Aeroplan Award Flight Sale: Save up to 20% in points on flights to select European destinations + MORE Mar 30th
Air Canada has launched an Aeroplan Award flight sale for travel to select destinations in Europe. This sale provides up to a 20% discount in the points required to redeem for flights when you book by April 12. The discount and travel dates vary by location as listed below. Receive up to .... More »
AIR MILES Bonus Boom - Over 1,000 Bonus Miles available from participating partners February 6 - 12 + MORE Feb 6th
AIR MILES Bonus Boom has returned for the next seven days! This time it is a longer period than we have seen before. There are lots of bonus miles offers up for grabs at AIR MILES sponsors across Canada. Once you get to the Bonus Boom page you can select your province to see your offers. I select.... More »
RWRDS Daily Update – November 3 + MORE Nov 3rd
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November 25 Update: Sign up with Air Transat to get an exclusive Black Friday promo code, new Amex Offer for Dell & CIBC Dividend 10% bonus ending soon! + MORE Nov 26th
Air Transat is making a big push for their Black Friday Cyber Monday sale although they haven't revealed the details just yet. They are asking people to sign up to receive notice on the deal. When you do you'll receive an exclusive promo code for the sale that starts in just over a day. If.... More »
A look at the business class redemption feature for the CIBC Aventura Visa Infinite Privilege Card - it offers up to a 7.5% return! + MORE Mar 5th
The CIBC Aventura Visa Infinite Privilege Card is a relative newcomer to our market with it only being released late in 2019 but it is really starting to make some inroads in our market. The card comes with a 50,000 point welcome bonus, a $200 annual travel credit, Priority Pass Lounge access with 6.... More »
Forgot to File Your Taxes Last Year? What You Need to Know
– ratesupermarket.ca
If filing your taxes before the deadline went over your head this year, procrastinating can only make things worse.
Unlike sales tax, which is a pay-at-the-pump proposition, Canada’s income tax system is based on self-assessment. Make your money, plan your affairs as best you can and then, pay up.
Not everybody does though. So if the April 30 deadline sneaked up and passed you, here are a few things to keep in mind.
Better to file late than never
Did you just realize that you forgot to file last year?
Some people may neglect to file one year and then freeze when it comes to the next year’s tax return because of the old unfiled return.
This type of procrastination hurts since the Canada Revenue Agency will monitor your financial behaviour over time, using identifiers like your SIN and your date of birth to access data from your bank accounts or credit card transactions.
At this point, it’s best to contact the CRA to find out any penalties you may have incurred, as well as the best way to file and pay off your outstanding balance immediately…
