The title is exactly what today’s post is about -PLEASE DO YOUR TAXES. The deadline to submit your 2021 taxes is 30 April 2022.
Irrespective of your current status in Canada, it is good practice to file your income taxes from your initial years. If you miss your 30th April deadline, you will hear others say that you can always file them later in future years. Even if that’s true, CRA charges a late filing penalty which does add up if you are filing 3-4 years all at once.
Yes, you can get an accountant to file your taxes for you but here is why I would recommend otherwise :
If you’re planning to live in Canada in the long run, understanding and taking charge of your own finances is crucial. Having previously worked in the front line of CRA, I have encountered several cases where taxpayers suffer from being overly dependent on their accountants. Even if you are someone who doesn’t have the time to do the filing yourself, at least be aware of your information so that you are not panicking if CRA gives you a call when your accountant is on vacation.
When you take the time to learn the process and file taxes on your own, you save money, and others around you can also benefit from your knowledge. Especially if you are like me who came to Canada as an international student and is currently on PGWP, chances are the filing process is going to be quite straightforward. When I was studying, my university had a tax clinic where students could file their taxes for free with the help of volunteers. So before opting for paid services, check within your community if there is any such option you have.
There are several reasons why this is an important task especially if you are an immigrant in Canada. You’ll find those reasons with a simple Google search. And while you are browsing that, you will also find guidelines and instructions on how to file your taxes on your own. Be careful not to enter sensitive information such as SIN, DOB, etc on websites that you don’t trust.
Here are a few links on the federal government website that can help:
You can also contact the individual tax inquiry department at 1-800-959-8281.
Keep in mind that a CRA agent can only help you understand information over the phone- they cannot file your tax returns for you. Please be kind and patient with them when you call, it's not an easy job.
Wishing you and your close ones a Happy Tax Season! I hope you get a refund this year :)
