The tax season is coming to an end. The deadline is May 2nd and here is why you should never miss the deadline:
- The CRA charges interest and late filing penalties to taxpayers who owe money to CRA on their taxes at the end of the year. So filing late means paying lots of extra money to the taxman just for being lazy.
- The CRA does not pay any interest on the refund it owes you. So file your taxes at the earliest and put “your” money to good use. You can use your refunds for paying off debts or invest it for future savings.
- If you qualify for receiving benefits like HST credit, Ontario Trillium benefit or the Canada child benefit , it is in your interest to file on time and and ensure that your benefit payments are not delayed
A lot of tax payers struggle until the last moment because of missing slips. Professionals at Softron tax are authorized to access the information slips from the Canada Revenue Agency.
So Do not wait for:
- Missing T4 slips from your employers
- Missing RRSP contribution receipts
- Missing T3 or T5 slips from your financial institutions
So what should you bring to your tax consultant when filing your taxes?
- Medical expense receipts
- Moving expenses claims
- Donation receipts
- Public transit passes or presto usage reports
- Rent receipts
- Receipts for money paid for Arts or fitness/sports activities for your children
- Documents relating to purchase of a new home in the last year
Just bring what you wish to claim and leave the rest to us! File today to avoid any potential financial or legal problems later.
Let’s do it right! Let’s do it now