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Most Canadian residents are required to file an income tax return for the income they have earned in the previous year. You must file a return if you owe taxes to the government or if you have earnings on which you are required to make contributions towards the Canadian Pension Plan (CPP) .There are other criteria for filing taxes as well.f you owe tax to the government and/or don't file your taxes by the due date, you will be liable to pay interest and penalties to the Canada Revenue Agency (CRA) . Compound daily interest is charged on the unpaid amounts starting from May 1, at a prescribed interest rate.
Deadline for Filing Your Canadian Income Taxes. The 2014 deadline for filing Canadian income taxes has been extended to May 5, 2015. On April 25, 2015, an incorrect notification was sent by the Canada Revenue Agency (CRA) to tax preparers saying the deadline was May 5.he Canada Revenue Agency is encouraging Canadians to file their income taxes online. You can still file your taxes by mail or by hiring someone to do it for you. Here are 4 Ways to File Your Canadian Income Taxes. Select the one that's most appropriate for you and your income tax situation.