When it comes to preparing and filing taxes, many Canadians are shortchanging themselves on potential tax refunds, or setting themselves up to incur to late filing penalties, according to a survey released today.

Fully 19% of Canadians polled admitted to missing a tax deadline in the past, and 28% believe they have likely overlooked a tax write-off or exemption.

The survey, commissioned tax preparation software firm UFile, suggests that the reason Canadians overlook potential write-offs, or file late, is that they take a last minute approach to preparing and filing their taxes.

In fact, 70% of respondents answered that they do not know the first official day they are eligible to submit their tax returns, and almost half, or 47%, file in April, the deadline month in which to submit returns.

Among the survey’s other finding: 48% of respondents required three hours or less to complete their taxes; and 32% have found a charitable donation receipt or other write-off receipts after the have filed their taxes.

“This survey reveals that the tax filing habits of many Canadians may inadvertently cost them money,” said Joanne Birtch, UFile’s director of marketing and communications. “It is clear that tax payers need some guidance and advice, either from a tax professional or tax software on how best to complete and submit accurate tax returns to ensure they are able to get the best returns possible for themselves and their families.”

The report is based on poll data collected by Decima Research on behalf of UFile. All interviews were conducted among a random representative sample of adults across Canada. With a sample size of 1012 completed surveys, the results can be considered to be accurate to within +/- 3.1% 19 times out of 20.