Has CRA charged you excessive interest? | FBC, Canada's Farm & Small Business Tax Specialist

Has CRA charged you excessive interest?

An unusual little blip in CRA's method of processing tax filings can result in taxpayers being charged interest for late payment even if they filed and paid on time. This happens because CRA separates filing documents from any cheques written to cover taxes owed. If your cheque is overlooked, it could take some time before it is forwarded for cashing.

If CRA cashes your cheque after April 30, it may charge you late-payment interest due to its own tardiness. CRA staff acknowledge the problem and will reverse the interest when this error is brought to their attention.

If CRA charges you interest when you know we filed your return on time, let us know and we will contact CRA on your behalf.

"Wealth after all is a relative thing since he that has little and wants less is richer than he that has much and wants more." — Charles Caleb Colton