March 6, 2019

Canada’s 2019 tax season: 4 things you need to know

Tax season is fast approaching, which can be a very stressful time for many Canadians. In order to minimize the stress and avoid fees, here are four things that will come in handy. Know your deadlines; most know it is April 30, but they differ if you are self-employed. You can add funds to your RRSP and still get credit provided you do so by March 1st. New tax breaks are available, including a climate action incentive. Some tuition breaks, however, are no longer available. You can also stick with mail filing, and even use an app to pay your taxes. It’s best to review all the changes before you file to ensure your tax return is correct, and you’re not missing out on credits.

“Whether you’re in for a refund or a tax bill this year, simply filing your return can be stressful. There are old receipts to be gathered, deadlines to put on your calendar and a new rules you should know about.”

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