5 tips for filing taxes online

The Canada Revenue Agency provides fast and secure online services.

Read: Why paying taxes is easy in Canada

They also offer the following six tips to clients getting ready to file their returns:

1. Read about the ways your taxes can be reduced this year

2. Gather all receipts and a copy of your 2011 return to both complete your filing and prepare for a potential audit.

3. Ensure the CRA has an updated address and your most recent deposit information before filing. The fastest way to update both is by using “My Account” on the CRA’s website, which also lets people track their refund status.

4. To file online, you have to use certified software or a Web application. The CRA provides a list of options.

5. Have your SIN and birthdate on hand so you can safely and securely transfer your return to the CRA using NETFILE.

6. Using online tools and software often identifies benefits and credits you weren’t aware of.

Read:

Get a leg up on tax season

Tax filing made easy

Keep insurance returns tax-free

Canada offers competitive tax structure

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.