It is time we make sure all low-income Canadians are accessing the benefits Parliament has already agreed they deserve. It is incumbent on the government to make sure everyone is aware of the benefits they are due. The CRA needs to provide strong support to ensure barrier-free tax filing for all those in need.
The tax deadline falls on May 2 this year, which means Canadians have an extra weekend to file their taxes. The CRA will soon be hit by a wave of last-minute tax returns, as countless Canadians wait until the last minute.
By examining the actual return on investment of our charitable donations, we can better assess the tangible social impact of our donations. To do this, ask yourself, what social impact has my donation made? Or better yet, ask your charity of choice how the dollars you donated made a difference.
It's been a really tough year for a lot of my friends here in Western Canada. Towards the end of last year, news stories about job losses in Alberta were the most important newsmaker of the year. It's unfortunately a familiar story for a lot of employees who work in the oil patch.
Even after mastering the basics of tax preparation and filing, a lot of filers will often find out new things about their tax returns that end up delivering a few more benefits along the way. I call these tax "aha!" moments.
The CRA conducts random reviews over the summer months to make sure that people are claiming their credits correctly. These requests from the CRA are not audits -- they are simply requests for supporting paperwork. However, some taxpayers will receive a Notice of Reassessment usually with an amount owing.
It's tax time and the deadline is just days away. Your month of tax procrastination may be stressing you out, but don't worry. The following tips will get you through the final days. By filing late or failing to file, you will incur a range of financial penalties. Why just throw your money away?
The decision about what to do with your tax refund is particularly important to those young Canadians anticipating a refund. You want a vacation, and there's probably something you've wanted to buy and put off until you got your return. But consider this...
Everyone has their own style when it comes to filing their tax returns. You can file yourself, or use a tax pro, but make sure you file by the deadline. No matter how you choose to do your return, you want to make sure you are claiming all of the credits and deductions available so you don't pay any more tax than needed.
You have a social insurance number, a job, and even a T4, but you have never filed your taxes. Everyone has been in the exact same position -- you have to start somewhere. Sure, it can be intimidating, but it doesn't need to be. Why? Because it has never been easier to file. Need a little guidance? Here are three tips to make your first time filing a breeze.