WEYBURN - There are three key tips Canadians should keep in mind, when preparing to submit their 2023 Tax Returns to the Canada Revenue Agency.
“It is important to keep your personal information up-to-date,” said Marc Maglian, representative for the CRA. “Before your file, go into your personal information in your MyAccount, and make sure to verify your phone number, martial status and mailing address.”
It is an easy step to update a mailing address, if you have moved since your last tax return. Since there are many Canadian residents who still receive their CRA statements in the mail, confirming the mailing address is very important.
“Secondly, make sure all your key documents are organized and on-hand, before you sit down to submit your tax returns,” added Maglian. For those Canadians who have multiple jobs, it is important to make sure they have a corresponding T4 statement from each employer.
The last key tip is to choose the best way to file, that works for your family. Many still submit using the printed tax forms, while others will seek advice from a tax professional, or use NetFile to submit their own tax form.
“For those Canadians who are using NetFile, it is a very easy process that autofills all the information, once you have added your tax documents to the program. It is an easy process to doublecheck you have everything connected to the file, and then directly send your tax return to the CRA,” said Maglian.
“Filing a tax return should not be hard or difficult. We offer many tools for those who need help,” added Maglian. The Canada Revenue Agency even offers a PodCast where interested Canadians can listen to tax submission tips on the go.
For those Canadians who use an online program like NetFile, and have direct deposit set up, they can expect any returns from the government to show in their account as early as 10 business days. Maglian recommended to not delay submitting a tax return, especially for those who might owe additional taxes, to avoid late penalities on their account.
The CRA also offers a free online learning tool to help Canadians understand what taxes are, how to file a tax return, and what's in it for you. They want to empower people to complete and file their own tax returns and to make sure they know about the benefit and credit payments they could be eligible for. They also offer have five-minute lessons, fun quizzes, and quick videos on everything that Canadians might need to know.
