Tax deadline extended for self-employed

If you have self-employed clients, make sure to tell them their June 15 tax filing deadline has been extended to midnight on Monday, June 17, 2013.

However, if they had an outstanding balance for 2012, that had to paid on or before April 30, 2013 to avoid interest charges. A late-filing penalty on amounts owing will apply to all tax returns received after that date.

If they have balances owing, they can pay at their financial institutions or use the CRA’s my Payment feature.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.