It’s that time of year again…tax season! Whether you hire an accountant to file your person income tax return or do it yourself, it is important to remain up-to-date with Canada Revenue Agency’s deadlines and services provided.
Here are a couple of the new services and deadlines to take into consideration:
– The deadline for filing personal income tax returns is NOT on the usual April 30th deadline, as this is a Saturday. Therefore, you have a few extra days to file; the new deadline is Monday, May 2, 2016. There will be interest and late-filing penalties if your return is late.
– If you are self-employed, the deadline for filing is Wednesday, June 15, 2016; however, amounts owing must still be paid by the May 2 deadline.
– There is a new feature called, “Auto-fill my return”, allowing you to automatically fill in parts of your current-year income tax return, based on information slips that have been filed with Canada Revenue Agency (CRA).
– A new mobile application, MyCRA, allows individual taxpayers to view and change key tax information right from their mobile device.
– The Notice of Assessment has a new format – for more information on understanding this improved Notice of Assessment, go to http://www.cra-arc.gc.ca/gncy/ntcslttrs/menu-eng.html
For a complete and detailed list on the changes for what’s new in 2015, visit http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/whtsnw-eng.html
Our team has extensive experience in addressing these issues so feel free to email info@dodicklandau.ca or call us at 416 736 4357 (HELP) to book a free, no obligation consultation with one of our debt solutions’ experts. Make an appointment today, specifically tailored to your situation. We look forward to assisting.