Canadians are putting off filing their taxes this year over fears that they may owe money to the taxman, according to the findings of a new poll.
The April 30 income tax deadline is quickly approaching, but according to data released by H&R Block Canada, 60% of Canadians have not yet filed their 2020 taxes.
A third of Canadians say they are "dreading" the 2020 tax season more than usual. While nearly half of people surveyed said they are concerned they will owe money, 26% of respondents said they are counting on a refund to shore up their finances.
"It's inevitably a challenging tax year for many Canadians to navigate," said Peter Bruno, President of H&R Block Canada, in a news release.
H&R Block said work-from-home expenses, government stimulus, and reduced income for many people are factors that could complicate tax filings this year. The poll predicts a last-minute filing rush in late April. Among respondents, 55% said they intend to file in "the next two to three weeks" with 9% predicting that they would file in the last week of April.
H&R Block’s report is based on three separate surveys of more than 3,000 Canadians conducted by the Angus Reid Forum.
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