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. . V& n1 R9 ~+ W$ r u9 z
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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.