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A recent survey by H&R Block Canada reveals that around 23% of Canadians, roughly 7 million people, have not yet filed their taxes as of last week (April 30 deadline). Of those, 71% have planned to meet the deadline, but a significant 25% expect to miss it entirely, and 4% don’t intend to file at all this year. Fear of owing money and procrastination are cited as the main reasons for the delay.
Among those intending to file on time, 63% cite not having found the time yet, while 9% admit to procrastinating due to concerns about owing money. For those anticipating missing the deadline, 22% attribute it to not having found the time, and 3% to procrastination due to money worries.
Of the 4% who don’t plan to file, reasons vary: some prioritize other matters, while others avoid filing due to concerns about owing money.
Yannick Lemay, Tax Expert at H&R Block Canada, notes an increase in delayed filing this year, often driven by fear of owing money. He emphasizes the importance of filing before the deadline to avoid penalties and potentially discover beneficial tax credits and benefits.
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