If you haven't filed your tax return yet, this Easter weekend might be time to check that off your to-do list.
Canadians have until May 2 to file their taxes, thanks to the traditional deadline of April 30 falling on a Saturday. For those who are self-employed, that deadline is June 15.
But before you rush to your tax-filing platform of choice, here are a few answers to questions you may have about filing your tax return this year and how to best prepare for the next one.
When should I file my taxes?
The tax deadline especially matters in the case of Canadians who owe money in taxes because filing late can come with penalties. If you're expecting a net positive tax return, filing late can delay any money you're getting back.
Andrew Bauer, an associate professor of accounting at the University of Waterloo, says the financially savvy thing to do is get your tax credit as soon as possible.
"Our refund is an interest-free loan that you gave to the government," said Bauer. "The longer you wait to get your money back, the more the opportunity cost is being wasted."