Wednesday, April 30, 2008

It's just like Christmas

Today is the deadline to submit your business to the government. Yes, your taxes are due as of midnight. If you are one of the lucky few who attempted to comply at the last minute and don't happen to "owe" anything or expect a "refund", rest easy - the deadline for Netfile has been extended until May 6th due to an overload of procrastinators attempting to meet obligatory deadlines. For the greedy capitalists amongst us, there is no forgiveness. An additional 5% will automatically be added to your outstanding balance owing, plus 1% of your balance owing for each month that you fail to submit your "return", to a maximum of one year, though you may be charged more if you have been tardy before:
(Canadian Press) Income-tax filers trying to access the Canada Revenue Agency's Internet site were in for long waits and repeated "time-outs" as the midnight filing deadline approached. As a result, the agency said anyone having difficulty sending or correcting their returns using Netfile will get a one-week extension, until May 6 - but that's only for the actual return.

Monies owing for the 2007 tax year still had to be paid by the April 30 deadline, said a spokeswoman for Revenue Minister Gordon O'Connor.

"It's actually not an extension," Ann Matejicka said in an interview. "Every year, the (agency) allows for a grace period of a week, which would bring us to May 6 for taxpayers who might have experienced any delays in submitting their returns online.

"People need to be aware of the fact that, if they owe money, it's still due by midnight (Wednesday night). However, they have until May 6 to transmit their returns."

[..] "It's not a filing problem. The system's performing as planned. ... I can use the analogy, let's say, of using your debit card at Christmas time. There might be a slowdown to the system just because of the volume of people using that service."
cp: The Broom.