Monday February 9th – 1st Day of Tax Filing Season

Monday February 9th – 1st Day of Tax Filing Season

As you may or may not know, Monday February 9th, 2015 is the 1st Day of Tax Filing Season 2014.

Canada Revenue Agency

Here are some other important dates to remember:

1) April 30, 2015: deadline to filing your income tax return

– failing to file your income tax return before/on April 30 could result in GST/HST, Child Tax Benefit payments, and Old Age Security benefits payments being delayed

2) June 15, 2015: deadline for filing your income tax return if you are self-employed 

– however if you have a balance owing you must pay before/on April 30, 2015

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CRA update regarding the Heartbleed Bug – Online services restored

Click HERE heartbleedto read full story.

Note: filing of 2013 tax returns has been extended to May 5.

Update on the Heartbleed Bug

All online services have resumed at Canada Revenue Agency (CRA), but unfortunatelyheartbleed

900 social insurance numbers were stolen. Click HERE for the full story.

To ensure communications are secure and cannot be exploited through phishing schemes, CRA will not be calling or emailing individuals to inform them of the breach.

Instead, each affected individual will receive a registered letter informing them of the breach, and will also be provided with credit protection services at no cost.

The tax agency also assures those affected that additional protections will be applied to their CRA accounts.

 

What are my options for paying CRA?

Here are your options for making a payment to Canada Revenue Agency (CRA):Canada Revenue Agency

  • Online banking: Use your financial institution’s online banking service and select Canada Revenue Agency in the list of payees. We may also be listed as Revenue Canada; CRA Payment on Filing; or Receiver General.
  • Debit card: Use My payment on  CRA’s online payment service. It allows individuals and businesses to make payments using Interac® Online.
  • In person: You can make your payment in person at your financial institution in Canada. To do this, you will need a personalized remittance voucher, which you can ask for online through My Account or Quick Access.
  • By mail: You can also mail your payment to the CRA. Send your cheque or money order (payable to the Receiver General), along with your remittance voucher, to:

Canada Revenue Agency

875 Heron Road

Ottawa ON K1A 1B1

Community Income Tax Volunteer Program (CITVP)

ImageEach year community organizations and volunteers across Canada help over half a million Canadians file their tax returns. The objective of the Community Volunteer Income Tax Program (CVITP) is to help eligible taxpayers who do not know how to prepare their income tax and benefit returns, and who fit the elibility criteria for income levels and simplicity.

The CVITP is a collaboration between the Canada Revenue Agency (CRA) and community organizations who host tax preparation clinics and arrange for volunteers to prepare the returns.

This free service is available for any who have a low to moderate income, and a simple tax situation. The program serves people who have the following income levels: individuals must make $30,000 or less, with single parents with one child making $35,000 or less. Single parents are also allowed to make an extra $2500 per additional child to qualify for the service. Married or common law couples who make $40,000 or less are also eligible.

The program offered at the Volunteer Clinic is also only for those with relatively straightforward financial situations. For example, people are not eligible if they have income from such sources as Capital Gains, if they are a self-employed, or have a business income. Other examples of those not eligible are landlords, people dealing with bankruptcy, have multiple years or returns, or need a return completed for someone who is deceased.

To have volunteers prepare their returns, participants must bring all relevant information with them, including information for spouses or dependents. The previous year’s return, plus any information usually required to file a return- receipts, information slips from the government or financial institution will help people get their return filed in one visit.

For more information go to http://www.cra-arc.gc.ca/tx/ndvdls/vlntr/menu-eng.html

It’s tax season in Canada

Fast facts about filing your income tax return onlineT1

  • Filing your return online lets you get your refund faster and  avoids interruptions to your Canada child tax benefit or GST/HST credit payments.
  • Filing online is easy. Certified software packages and web  applications (some of which are free to use) guide you through the process, making sure you don’t miss out on credits and benefits you may be  eligible for.
  • Filing online is secure. The Canada Revenue Agency uses the same high level of online  security Canadian financial institutions use.
  • Contact us and let us walk you through the process step by step.