Save money at tax time
When you file your return, you may be eligible for benefits and credits that put more money in your pocket. You can find out what you’re eligible for and how to apply on our Tax credits and benefits for individuals page.
If you owe money this year, you may also be able to claim deductions and credits related to education to reduce the amount you owe. This could include your tuition, interest paid on your student loans, moving expenses, and more. Find out what you can claim on our Education deductions and credits page, and reduce the amount of tax you have to pay.
Register for direct deposit and file online
You can register for direct deposit and file online to get any refund you may be eligible for faster. To file online, the CRA has a list of certified tax software products that are easy to use, fast, and secure, some of which are free!
When you file using NETFILE-certified software, you may be able to use:
- Auto-fill my return. This is a secure service that allows individuals and authorized representatives using certified tax software to automatically fill in parts of an income tax and benefit return with information that the CRA has available at the time of the request. This service can retrieve information from the current year and six years prior. Once Auto-fill my return has populated the return with the information, make sure that all the proper fields on the return are filled in and that the information provided is true, accurate and complete before you file your return.
- Express NOA. This is a secure service that allows individuals and authorized representatives to view their notice of assessment (NOA) in their certified tax software, immediately after the return has been received and processed by the CRA.
There are other ways to do your taxes, including by paper. You can find more information on our Ways to do your taxes page.
Electronic returns are generally processed within two weeks. Individuals who file online and are registered for direct deposit may get their refund in as little as eight business days. However, for paper returns, our service standard is to process them within eight weeks of receipt.
Learn about online filing, deadlines and more with our Get ready to do your taxes page. The CRA will update this page in late January 2023.
Please see our next posts to continue reading the article.
The original article can be found here
*The preceding information is for educational purposes only. As it is impossible to include all situations, circumstances and exceptions, a further review should be done by a qualified professional.
No individual or organization involved in either the preparation or distribution of this text accepts any contractual, tortious, or any other form of liability for its contents.
For any questions, give us a call.
Do you need to prepare your records for year-end and tax filing?
Let us help!
We offer a wide range of services, including bookkeeping, financial reporting, payroll processing, tax planning, and more.
Get started with a free consultation to learn more about how we can help you!
