|
Dear friends,
As we are approaching the April 30, 2021 tax filling deadline for individual tax returns, I want to make sure you have all the information and supports you need.
Any amounts you received under any of these programs must be included in your tax return. You will have received a T4A (for benefits issued by the CRA) and/or a T4E (for benefits issued by Service Canada) tax slip in the mail with the information needed for your return.
Whether your 2020 income was impacted by federal financial support programs or not, please file your tax returns on time. It helps to get started early and to make sure that you have all the receipts and tax slips you need.
|
|
|
When is the Income Tax Deadline?
|
|
|
The deadline for most individuals to file their 2020 taxes and pay any amount owing is April 30, 2021. To avoid late-filing penalties and interest, individuals should ensure that their returns are filed by April 30, 2021, and their payments are made by April 30, 2021.
The deadline for self-employed individuals and their spouses or common-law partners is June 15, but any amount owing is due by April 30.
Qualifying individuals can make a payment arrangement. Interest in 2020 will not be charged until April 30, 2022 for individuals who received COVID-19 benefits and whose income is under $75,000.
|
|
|
When will you receive your T4A slips?
|
|
|
Most people who received COVID-19 emergency and recovery benefits from the CRA should have their T4A slips by now. Those who received these payments and are waiting for their T4A slip may be able to get a copy through My Account or by contacting the CRA.
You should also check to make sure you received all your tax slips. For example, if someone received emergency benefits from Service Canada, they will get a T4E slip.
If you are expecting to receive a tax slip and don’t want to wait to file your return, you can use information you have on hand to estimate your income and any income tax withheld from COVID-19 emergency and recovery benefit payments. You can file using that information. If, however, the initial information provided was incorrect, amendments will need to be filed.
You can find more information at: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2021/questions-about-your-t4a-what-you-need-know.html
|
|
|
What happens if your Benefit or Credit Payments are Interrupted?
|
|
|
If you file your return after April 30, 2021, your credit and benefit payments may be interrupted. In these situations, individuals will receive retroactive payments for credits and benefits they are eligible for after their returns are filed and assessed by the CRA.
|
|
|
Have your CRA User ID and Password been Revoked?
|
|
If your CRA User ID and Password have been revoked, you can try the following:
1. Use a different login method:
You may be able to log in by using a different CRA user ID and password or your banking login.
After you register, the CRA will mail you a security code to give you full access to online services. While waiting for your security code, you can still file their income tax return online using NETFILE certified software and apply for COVID-19 benefits.
If you are not able to use these options, for example, if your account is locked or your address on file is incorrect, you should wait until after March 22, 2021, and try logging in again. If you are still unable to access their account after this date, you should call the CRA at 1-800-959-8281.
|
|
|
Help preparing your Income Tax Return
|
|
Community Volunteer Income Tax Program
Volunteers have already helped eligible Canadians file over 40,500 returns as of March 6, 2021. You may be able to use this program to have your return completed for 2020 and filed for free. Volunteers may be able to do your taxes virtually by videoconference or by phone.
This year, my office will be participating in the CVITP for eligible constituents.
|
|
|
I know that calling CRA may be frustrating for you. Although CRA has made improvements to its phone services for the public, wait times can be very long during the tax season. This tax filing season, because of the COVID-19 financial supports offered by our government, people may have more questions and may need more assistance from CRA.
To save you the time of having your call placed in a long queue on hold, you can check the wait times before your call call CRA. Estimated phone wait times are now provided in real time by the CRA at: https://www.canada.ca/en/revenue-agency/corporate/contact-information.html.
You can also contact CRA online at: https://www.canada.ca/en/services/taxes.html. As a result of improvements to its website, especially under the Personal Income Tax section, the information available online addresses more issues and is often the same information you would receive by telephoning CRA. If you are looking for benefit payment dates or processing times, this information will be readily available on the CRA website.
Alternatively, CRA has an online chat feature which you could use to have your questions answered. The "Charlie the chatbot" service is found at: https://www.canada.ca/en/revenue-agency.html
Finally, CRA offers digital services to manage your tax issues at anytime. You can track your refund, change your return, check benefit and credit payments, see your RRSP limits and receive email notifications. By signing up to the My Account feature, you can access your tax information whenever you wish.
|
|
Even if you have received a vaccine, please follow the COVID-19 safety protocols. While evidence is still being gathered, vaccinated people may still carry the virus and infect those not yet vaccinated.
And with variants of the virus emerging, now is not the time to stop physical distancing or wearing a mask.
|
|
|
Thank you for your continued goodwill and community spirit through this difficult time. Although we are working from home, my staff and I are making every effort to ensure Don Valley West remains a strong, vibrant community through this pandemic.
If you have any concerns, questions, or suggestions, please do not hesitate to contact me at [email protected] or call 416-467-7275.
All the best,
Rob
|
|
|
Connect with me on social media
|
|
|
|
|
