Filing your taxes online can be a cake walk with these tips. The icing on the top – you may be able to get a refund by taking advantage of the tax credits you’re eligible for.
File and pay on time and online
Even if you don’t owe taxes, you should still file on time, as the Canada Revenue Agency (CRA) uses this information to determine eligibility for certain benefit and credit payments. If you owe taxes, file and pay on time to avoid late filing penalties and interest.
Register for My Account
My Account gives you access to the CRA’s full suite of self-service options. For example, when you register for online mail, you can receive your notice of assessment online in My Account. Also, new this year, you can automatically fill in parts of your tax return when you use the Auto-fill my return service, available in some certified tax software.
Claim your tax credits
Make sure to check which benefits and credits you may be eligible for, such as the:
• GST/HST credit – The GST/HST credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay. To receive this credit, you have to file an income tax and benefit return every year, even if you didn’t receive income during the year.
• Children’s fitness and arts credits – The children’s fitness and arts tax credits help make the cost of organized fitness activities and art lessons for your children under 16 a little more affordable. You may be able to claim up to $1,000 in eligible fitness-related expenses, and up to $500 in eligible arts-related expenses per child for the cost of registration or membership in such programs. The children’s fitness tax credit is now refundable.
Need help? More information on what you need to know before you file, important due dates and how to file your tax return online is available at www.cra.gc.ca/getready.
Need to make a correction?
If you need to make a change to your current tax return, don’t worry about filing another one for the year. After you receive your notice of assessment, you can make a change online using the Change My Return option in My Account.