Tax Claim and Tips

1. Who must file a return?
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Tax liablity (you owe CRA tax)
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RRSP withdrawals: Report the money as income if you withdraw money from RRSP
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Receive CRA request letter
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Have to pay Canada Pension Plan (CPP) if you have self-empoyed income
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When you sell investment property
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People who claimed a reserve to spread tax out over different years
2. Why you should file a tax return?
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Get the refund
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Expecting tax credits like GST/HST, Child tax credit etc.
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Eligible for refundable tax credits
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Build RRSP contribution room
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Tuition credits carring forward for students
3. What's the deadline for filing tax?
Individuals: Tax returns and payments are due April 30.
Self-employed: Tax returns due June 15. Payments due April 30.
4. When you should hire a tax preparer?
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you do not have time
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your tax situation is complicated
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you do not know how to file tax
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you want to ensure your tax returns are accurate
Looking for someone who can help you with filing tax return? Have questions about tax? Contact us!