Still owe money to Canada CRA after T1 adjustment, do I have to pay interest?

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cqhg
Posts: 11
Joined: Fri Dec 14, 2018 11:18 pm

Still owe money to Canada CRA after T1 adjustment, do I have to pay interest?

Post by cqhg » Thu Aug 27, 2020 11:30 am

Hi,

I am a Canadian working in US.

For the tax year 2015 I discovered that after my T1 adjustment this year I still owe a little money ($200) to the CRA, and it's been several years(2016~2020) so I'm wondering if I need to include interest when paying back the money owed, and if I do, how I would calculate it?

Also are there any fines associated with paying this late?

Thanks in advance.

nelsona
Posts: 16516
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Still owe money to Canada CRA after T1 adjustment, do I have to pay interest?

Post by nelsona » Fri Aug 28, 2020 8:43 am

CRA will determine and send you the bill. No point estimating.
Nelsona Non grata. Non pro. Search previous posts. Happy Browsing :D

cqhg
Posts: 11
Joined: Fri Dec 14, 2018 11:18 pm

Re: Still owe money to Canada CRA after T1 adjustment, do I have to pay interest?

Post by cqhg » Fri Aug 28, 2020 6:10 pm

nelsona wrote:
> CRA will determine and send you the bill. No point estimating.


thank you so much!

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