Yes, balance due date is April 30th every year. If you can't pay on time, you will be fined with high interest rate on your owed amount. ; m$ V/ p/ x& n, m0 O. C/ b. P) a/ V! {$ g& V0 i; X: ?* w& @% ^- P/ R+ H
However, you can often make a deal with the Canada Customs and Revenue Agency (CCRA) for taxes you owe. You can either negotiate payment terms or file a proposal under the Bankruptcy and Insolvency Act (BIA) rather than filing for bankruptcy.