For a number of totally avoidable reasons, I just filed my taxes. I'm owed ~3500$ and I was wondering what I should expect to get from the CRA. I've heard there's no penalty for filing late unless you owe the CRA money. Is this true? I couldn't find anything about it on the CRA's website.
That's true for the tax return. The T1135 has some late penalties. These only apply if you had to file one, some/most people don't.