With only around one week to go until the May 1 tax filing deadline, a newly released study commissioned by H&R Block Canada reveals that as of April 16, 63% of Canadians report having already filed their taxes, with 37% who have yet to file. Of those that have not yet filed, 25% say they have everything ready to go. But for some Canadians the CRA employee strike is creating confusion.
For more than a third (35%) of Canadians, the recent announcements around the strike by CRA employees has created a sense of uncertainty; however, Canadians are divided in their response to the potential strike action. Around one in five (19%) Canadians report that they are more inclined to hurry to file their taxes due to the uncertainty around the implications of the strike action. Conversely, 15% say that they are less inclined to hurry to file their taxes as they believe that the strike might lead to an extended tax filing deadline.
‘Instant refund’ tax filing appeals to Canadians who are concerned about a potential refund delay
Nearly one in five Canadians (17%) are worried that any potential CRA strike action could lead to a delay in getting a potential refund. Of the 35% of Canadians that have not yet filed, 6% report that they are more inclined to file as soon as possible to get a refund. This way, they feel reassured that they will already have received their refund in the event that strike action creates delays in processing refunds.
“We’re now in the final throes of the countdown to the tax filing deadline. We urge all Canadians to file their taxes as soon as possible if they haven’t already,” said Peter Bruno, President of H&R Block Canada. “If you run out of runway and end up scrambling last minute to gather the necessary documents, receipts and other relevant information, it’s much more likely that you could miss out on the numerous tax credits and benefits that you may be entitled to. H&R Block also offers an ‘Instant Refund’ filing option for anyone who qualifies that is looking to get their money right away. Filing on time is also critical to avoid potential disruptions to benefits or quarterly instalments payments, such as the Climate Action Incentive, Canadian Child Benefit or GST/ HST.”