Source: David Paddon, The Canadian Press, April 18, 2019 

TORONTO — This is the time of year when procrastinators begin to fret about filing their income tax forms with Canada Revenue Agency by April 30.

Of course, there are many reasons to file on time — such as avoiding expensive late fees and receiving tax refunds promptly.

For retired people, the CRA has an extra reason to finish their taxes on time — the potential to boost their monthly income or, on the flip side, to avoid a reduction in government payments.

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Image Source: THE CANADIAN PRESS/Christopher Katsarov