Tax season is right around the corner, here are some things you can do to prepare yourself for the tax season.
- Gather your information slips! This includes your T4s, receipts, previous tax year’s notice of assessment and a copy of last year’s return to use as a model.
- Sign up for direct deposit, this can allow you to receive your refund in as little as eight business days.
Received COVID-19 benefits this year? These are considered to be taxable incomes so you will need to file a return and enter the amount you have received. These payments, you will receive a T4A (for benefits issued by CRA), and/or a T4E (for benefits issued by Service Canada). There are more details, click here to read more.
There are also a couple ways to do your taxes:
- File online
- Use the Community Volunteer Income Tax Program
- Use the File my return service
- File by paper
Immigrant Services Calgary helps with the community volunteer income tax program, check back to see when the tax clinics open up!
For more information, please visit https://www.canada.ca/en/revenue-agency/campaigns/taxes-get-ready.html