Your investing questions, our clear answers.

Our response:

While we try to provide general information to help, we are not able to provide legal or financial advice.

The Canada Revenue Agency website has information on balance owing and late filing interest and penalties. You may wish to speak to a tax professional for guidance and assistance in filing past years’ taxes.

Even if you don’t have to file a return (for example, if you have no income to report), you may still choose to file a return in order to take advantage of certain refundable tax credits and benefits, and to build RRSP contribution room. Learn more reasons to file a tax return.