Linda neglected to complete her T1 General in time for the filing deadline of April 30, 2017.

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Linda neglected to complete her T1 General in time for the filing deadline of April 30, 2017. This would not be a problem if she did not owe any tax. However, after completing her tax return, she realized that the amount of tax withheld by her employer was not enough to cover the amount of taxes she owed. In fact, Linda owed an additional $2000 of income tax. Linda completed her tax return late and submitted it to the CRA by November 1, 2017. Calculate Linda’s income tax penalty. How much will she have to pay in total?

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Personal Finance

ISBN: 978-0134724713

4th Canadian edition

Authors: Jeff Madura, Hardeep Singh Gill

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