Monthly Archives: February 2013

Preparing to file your taxes?

I know tax talk is not everyone’s cup of tea, but in my experience, having a simple checklist can really help alleviate that overwhelming feeling of burdensome bureaucracy. So whether you are filing your own taxes or are having someone else do them for you here’s a list of what you need to put together:

a) personal details: name, address, sin, date of birth and marital status (name and sin of partner if common-law or married)
b) all income information including:
T4, Statement of Remuneration Paid
T4A, Statement of Pension, Retirement, Annuity, and Other Income
T4A(OAS), Statement of Old Age Security
T4A(P), Statement of Canada Pension Plan Benefits
T4E, Statement of Employment Insurance and Other Benefits
T4RSP, Statement of RRSP Income
T5007, Statement of Benefits
RC62, Universal Child Care Benefit statement
RC210, Working Income Tax Benefit Advance Payments Statement

c) information about dependents – ages, plus any eligible expenses including childcare, arts and sports expenses

d) any student loan payments (you should receive a statement which details how much interest and principal were paid off over the year.)

e) Your Notice of Assessment from your most recent tax return

f) Details about any RRSP contributions made

g) If you want to file your taxes online (by far the quickest, easiest and even the cheapest option), you need your NETFILE access code, which should be sent to you by mail.

NB. VERY IMPORTANT. To use NETFILE CRA must have your current address. If you have a different one than the one they have on file, you must first contact them to update your address. If you are not sure which one they have, call the NETFILE Help Desk: 1-800-714-7257.