
If you haven't filed your tax return yet, this Easter weekend might be time to check that off your to-do list.Â
Canadians have until May 2 to file their taxes, thanks to the traditional deadline of April 30 falling on a Saturday. For those who are self-employed, that deadline is June 15.
But before you rush to your tax-filing platform of choice, here are a few answers to questions you may have about filing your tax return this year and how to best prepare for the next one.Â
When should I file my taxes?Â
The tax deadline especially matters in the case of Canadians who owe money in taxes because filing late can come with . If you're expecting a net positive tax return, filing late can delay any money you're getting back.Â
Andrew Bauer, an associate professor of accounting at the University of À¶Ý®ÊÓÆµ, says the financially savvy thing to do is get your tax credit as soon as possible.Â
"Our refund is an interest-free loan that you gave to the government," said Bauer. "The longer you wait to get your money back, the more the opportunity cost is being wasted."