CRA’s last-minute filing tips

Tax season is a busy time, for both you and your clients. If some people are falling behind, share the following tax-filing tips from CRA.

Do your taxes online. CRA has a list of certified software packages and web apps, including some that are free.

Register for My Account. Using this online service for individuals, clients can view their detailed notices of assessment or reassessment and the status of tax returns, as well as their personalized benefit and credit information. They can also register for account alerts and online mail.

Use auto-fill my return. This feature can be used if taxpayers are registered for My Account and are using NETFILE-certified tax preparation software that offers the service.

Late filing delays benefits. Even if someone doesn’t have income for the year or their income was tax-exempt, a delay in filing can result in interruptions or delays to Canada child benefit payments, the GST/HST credit and/or child disability benefit payments.

Volunteers can do taxes for free. If a taxpayer needs help, and has a modest income and a simple tax situation, a volunteer from the Community Volunteer Income Tax Program may be able to assist. To find a tax clinic near you, go to canada.ca/taxes-help.

Payment options are available. If a client owes taxes, there are several payment methods from which to choose, including online banking and CRA’s My Payment service. Payments in person can be made at any Canada Post outlet. If someone can’t pay all of the amount they owe before the due date, a payment arrangement may be possible if they’re eligible.

Also read:

Best tax options to transfer the cottage to kids

Tax tips for the sharing economy and cryptocurrencies

Staff

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