Majority of Canadians file electronically: CRA

Over 76% of Canadians filed their income tax return electronically this year, an increase of 17% over last year, according to data released by Canada Revenue Agency (CRA).

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As of June 20, 2013, 20 million Canadians took advantage of CRA’s electronic filing services, which is up from 17 million this time last year.

The average Canadian received a refund of $1,641 during the 2012 tax-filing season – an increase of $22 per person since the previous filing season.

Several credits are available to Canadians, including the new family caregiver amount, introduced this year. This new tax credit helps those looking after a dependant with a physical or mental impairment. Eligible tax filers can claim up to an additional $2,000 in the calculation of certain non-refundable tax credits through this initiative.

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The CRA’s electronic services are useful to Canadians year-round, not only during peak tax season. This year, from April 2012 to March 2013, over 546,000 new users signed up for My Account and almost 425,000 new users joined Quick Access.

Applications such as My Account and Quick Access allow you to track your refund, monitor your benefit and credit payments, view your registered retirement savings plan information, set up direct deposit, and much more. Click here for more information on electronic services.

2012 tax-filing season statistics:

Staff

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