Tax season is almost upon us. Read these simple steps to get yourself organized and avoid a last-minute panic to get your taxes in on time.
Collect your supporting documents
- Gather all your tax slips (like your T4) that show your income
- If you have not received your slips (or if you’ve lost one), you can ask your employer for a copy
- Research what deductions, credits, and expenses you can claim
- Gather all your receipts or records you need to support your claims
- Gather all your tax slips (like your T4) that show your income
Consider how you want to fill out your return
- You can auto-fill some parts of your income tax and benefit return if you’re registered for My Account
- The Canada Revenue Agency (CRA) also has a list of certified software for filing your taxes – this means it’s compatible with CRA systems
Make sure your personal information is up to date
- Changes to your personal information directly affects your benefits and credit payments. This includes things like:
- Your marital status
- The number of children in your care
- Your banking information
- Your address
- Changes to your personal information directly affects your benefits and credit payments. This includes things like:
Did we miss anything? Feel free to share your tips in the comments below.
Did you like this? You might like these posts too!
3 facts about Interac e-Transfers
5 tips for setting up an “uh-oh” fund
Do you need to update your will?
About Consumer Protection BC
We are responsible for regulating specific industries and certain consumer transactions in British Columbia. If your concern is captured under the laws we enforce, we will use the tools at our disposal to assist you. If we can’t help you directly, we will be happy to provide you with as much information as possible. Depending on your concern, another organization may be the ones to speak to; other times, court or legal assistance may be the best option. Explore our website at www.consumerprotectionbc.ca.