Paying your 2014 taxes owing
When completing your return, you may calculate a balance owing on line 485. Generally, if this amount is $2 or less for 2014, you do not have to make a payment.
For information about your account balance and payments, see My Account.
If you filed your return and have received your notice of assessment showing a balance owing, see Paying arrears.
You can make your payment in several ways. See Make a payment.
- We start charging compound daily interest on any outstanding balance for 2014 starting May 1, 2015, until you pay it in full.
- If you owe tax for 2014, and you file your 2014 return after the filing due date, we will charge a late-filing penalty.
- You can pay before you file your return. If you do, specify the year to which you want the payment applied. When you complete your return, claim this amount on line 476. As long as you file your return on time and pay by April 30, 2015, we will not charge you interest or a late-filing penalty.
- You can file your return early and make a post-dated payment. As long as you file your return on time and pay by April 30, 2015, we will not charge interest on your balance owing.
- Set up your pre-authorized debit before April 22, 2015, to avoid penalties and interest charges.
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