Strictly from CRA perspective, if you owe any taxes to CRA, you are required to file the taxes before the deadline. However, if CRA owes you a refund or neither, you or CRA owe each other anything, in this scenario, you are not required to file your taxes. Hence, it is voluntary.
If you owe taxes and miss the deadline, you have to pay interests and penalties on the amount owed, plus tax payable.
In simple terms, if you have taxes payable, select YES but if you are expecting a refund, it is most likely a NO.
It is my two cents but I definitely recommend that you ponder before making a decision.
If you owe taxes and miss the deadline, you have to pay interests and penalties on the amount owed, plus tax payable.
In simple terms, if you have taxes payable, select YES but if you are expecting a refund, it is most likely a NO.
It is my two cents but I definitely recommend that you ponder before making a decision.