Filing your taxes can be a busy and time-consuming experience, but a little planning and these top three tips will go a long way toward ensuring a much smoother process.
1. Get organized. Mark your calendar for a quiet time of day when your brain is usually in peak form to get to work. If you’re not a morning person, schedule filing time for the evening. Collect all your receipts, slips, proof of income, and other paperwork you may need ahead of time. Research your eligibility for a variety of tax credits, for everything from child care to energy efficient home renovations.
2. Ask for help. Doing your taxes can be hard, so don’t be afraid to seek assistance. Ask a trusted relative or friend, hire a tax expert, contact the Canada Revenue Agency, or explore tax clinics in your neighbourhood.
3. Sign up for direct deposit. Enroll for direct deposit now to ensure that you get your payments faster when you file. Get your income tax refund, GST/HST credit and other tax-related payments deposited straight into your bank account by signing up for direct deposit. It’s the fastest, safest and greenest way to get your payments. Sign up by visiting your financial institution or go to directdeposit.gc.ca for more information.