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. 2 b& D5 l% J3 z u( r, G5 ^/ _$ e7 H# F$ ]% I
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.