Since I am filing my taxes late, will the CRA now audit me because I am late and my file will be red flagged?

No, you will not be audited because you are filing late. But, you will be subject to penalties and interest if you end up owing to CRA. The late filing penalty is 5% and interest is 1% per month of balance owing. But if you were very sick, or had other serious circumstances beyond your control which led you to file late, penalties and interest can be waived. Please contact us for further information.