CRA Updates Jason Smith CRA Updates Jason Smith

Money on your mind? Let’s talk about how taxes can contribute to your financial success

November is Financial Literacy Month and this year, the theme is “Money on your mind? Talk about it”. Talking about money is not easy – we get it. However, improving your tax literacy can be directly beneficial to you!

Tax literacy means knowing how to make informed tax decisions with confidence. We are dedicated to boosting tax knowledge by helping you understand your tax responsibilities as well as the benefit and credit payments available to you.

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CRA Updates Jason Smith CRA Updates Jason Smith

Feel like you’re missing out on something? It could be your benefits and credits or your tax refund!

Did you know that some Canadians are entitled to benefits and credits but they don’t know that they are? You may be leaving money on the table by not filing your income tax and benefit return.

The Canada Revenue Agency (CRA) wants you to receive the benefits and credits you’re entitled to. We use the information from your tax return to calculate your benefit and credit payments.

The only way to find out what you are missing is by filing!

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CRA Updates Jason Smith CRA Updates Jason Smith

New to Canada and new to doing your taxes?

New to doing your taxes? Don’t worry, we’re here to guide you through the process and answer your questions. We’ve put together tips and information to help you this tax season.

You can also watch our video series for newcomers. It’s available in 12 different languages: Arabic, Cantonese, English, Farsi, French, Hindi, Russian, Mandarin, Punjabi, Spanish, Tagalog, and Urdu.

The first thing to know is that you have to complete and file an income tax and benefit return every year to:

  • receive certain benefits and credits you may be entitled

  • to receive a tax refund you are owed

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CRA Updates Jason Smith CRA Updates Jason Smith

Tax preparers and professionals: Here’s what you need to know for the 2022 tax-filing season

Since April 30, 2022, falls on a Saturday, your clients’ return will be considered filed on time in either of the following situations:

  • we receive it on or before May 2, 2022

  • it is postmarked on or before May 2, 2022

Your clients have until June 15, 2022, to file their return if they or their spouse or common law-partner are self-employed.

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CRA Updates Jason Smith CRA Updates Jason Smith

What students need to know this tax season!

As a student, you may have many questions about taxes and might be filing an income tax and benefit return for the first time. We understand that many students have unique personal and financial situations, especially given the last year. Let’s make sure you don’t miss out on benefits and credits to which you may be entitled. Find out what you could get and what you need to know in this tax tip.

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