The April 30 tax deadline is approaching quickly, and most Canadians will file their taxes because “it is the right thing to do,” according to a BMO Nesbitt Burns study released this weekend.
The study found that 52% will file their taxes for this reason; other reasons why Canadians file taxes include expecting a refund and fear of getting audited.
“The fact that more than half of Canadians think that preparing and paying their taxes is the right thing to do says a lot about us as a nation,” said John Waters, BMO Nesbitt Burns vice-president, head of tax and estate planning, wealth planning group.
“Taxes fund critical government programs such as healthcare and education. The findings suggest that Canadians are keen on doing their civic duty as citizens every tax season.”
The study showed that 94% of Canadians say they file a tax return each and every year.
Of the 6% that do not, the reasons include:
- they are too busy (24%);
- they don’t know how to file them (20%); and
- they feel they don’t make enough money to warrant filing taxes (17%).
