If you’re scrambling last minute to get your taxes done before the April 30th deadline, here are a few tips directly from Canada Revenue Agency (CRA);

Do your taxes on-line. CRA has created a list of certified software packages and web apps that are available on-line at www.netfile.gc.ca/software

Register for My-Account. By using this on-line service, you can check the status of your return, view your notice of assessment or reassessment, as well as your personal benefit and credit information. You can also sign up to receive account alerts and online mail.

Use auto-fill my return. Once you are registered on My Account, and if you are using NETFILE or another certified tax preparation software; you can use this feature to speed up the process when filling out your return.

Late filing delays benefit payments. Even if you don’t have income for 2017 or your income was tax-exempt, a delay in filing your return could result in interruptions or delays in receiving other benefits like the Canada child benefit, the GST/HST credit and/or the child disability benefit.

Volunteers can do taxes for free. If you have a modest income and a simple tax situation there are volunteers at the Community Volunteer Income Tax Program that may be able to help. To find a clinic near you, go to Canada.ca/taxes-help.

Payment options are available. If you end up owing money there are several payment options available to you, including CRA’s My Payment services, paying through online banking or in person at any Canada Post outlet. If you owe a large amount and can’t pay it all at once, CRA will allow a payment arrangement if you are eligible.

Canada Revenue Agency’s online service is fast and secure, but be prepared before you log-on:

  1. Do some research and read about the different ways to reduce your taxes this year.
  2. Gather all of your receipts and a copy of your 2016 return to help you complete your filing. It is good to keep these handy in preparation of a potential audit.
  3. Make sure CRA has your current address and most recent bank information for depositing any refund. The fastest way to update this information is by using My Account.
  4. Keep in mind, using online software and tools often identify benefits and credits you weren’t aware of.
  5. Have your SIN and birth date on hand so you can safely and securely transfer your return to the CRA using NETFILE.

Hope you have found these tips helpful. However, if you prefer to use a professional accountant let me know and I will refer one to you.

Have a great weekend,

Tracey

 

Sources: Original article posted on Advisor.ca 04-13-18 by staff, CRA

Image courtesy of ratch0013 at FreeDigitalPhotos.net