Canadian Income Tax Filing Made Easy
In recent years, the Canada Revenue Agency (CRA) has been expanding the methods available for you to file your income taxes. As the digital revolution continues, the agency has focused much of its energy on developing online filing methods. However, traditional means are still available to facilitate your Canada income tax filing.
Accountants’ Office (Photo credit: RobW_)
The CRA has established NETFILE as an online option for filing your Canadian tax return. The CRA has certified the commercial software and the Web application of the program. Also, there exists a number of free software applications for use with NETFILE.
Digital Service Provider
You may employ a service provider to submit your taxes online with the EFILE program to prepare you return. After completing your return, take your forms to a digital service provider to file online for free. This digital platform traditionally results in your return being processed quickly.
Regardless of the nature of your return, every tax filer in Canada has the option of submitting his or her return by post. Simply complete the required forms, and place them in the mail for the cost of a stamp.
If your taxes are complex, if you own a business, or you just don’t feel confident about completing your income tax returns on your own, you may hire an accountant to prepare your taxes.
Whether you are a small business owner who doesn’t have the time to complete your returns or you like the convenience of the Internet, there is an option for you to successfully file your Canadian tax return.
Gear Up To File Your Canadian Income Tax
There are several fundamental principles that need to be considered while filing for Canada’s income tax. Does your Canadian income tax package contains complete information and all the relevant documents that are required to file for income taxes in Canada? Significantly, the tax payee must keep in mind the deadlines for filing a Canadian tax return. In case, if you are obliged to pay taxes on your income and you file a Canadian tax return after the deadline then you will be penalized as per the Canada Revenue Agency rules.
English: Northwest corner of the Connaught Building located at 525 MacKenzie Avenue in Ottawa, Canada. The building is now the headquarters of the Canada Revenue Agency. Français : L’angle nord-ouest du Connaught Building, situé au 525 MacKenzie Avenue à Ottawa, Canada. Le bâtiment est le siège de la Canada Revenue Agency. (Photo credit: Wikipedia)
Points to be considered while filing your Canadian tax return
• You must provide your Social Insurance Number when you file your Canadian tax.
• You must provide your tax information slips to give the information to the Canada Revenue Agency about your earnings and the amount of deducted tax.
• Also you must have tax deduction receipts to provide relevant information about the tax deducted from your income.
These are the key points that will help you to file a Canadian tax return with no shortcomings.
Moreover you can file your Canada income tax online. Though the Canadian income tax filing procedure via phone has been ceased, you can still file your taxes via mail or by employing someone. Besides, if you file online then you have the option to make alterations too. If you owe your taxes to the CRA then it is advisable as well as crucial to arrive at a tax services office as soon as possible for better assistance.