With tax season around the corner, Canadians are gearing up to file their income tax returns for 2023.
While some prefer the ease of electronic filing, others still opt for the traditional paper method.
Here's your comprehensive guide on how to make your paper filing experience smooth and efficient.
1. Deadline Reminder: April 30, 2024
Circle the date on your calendar, April 30, 2024 is the deadline for filing your personal income tax and benefit return for 2023. Filing on time ensures uninterrupted benefit and credit payments. Don't forget, any money owed to the CRA should also be paid by this date to avoid penalties and interest charges.
2. When to Expect Your Income Tax Package
If you filed on paper last year, expect the 2023 Income Tax package in your mailbox by February 19, 2024. This package includes essential information and forms needed for paper filing. If you haven't received it by then, you can view, download, and print the package here or call 1-855-330-3305 to order.
3. Changes to the 2023 Income Tax Package
Noticed a slimmer package this year? That's intentional! The CRA has listened to feedback and removed line-by-line instructions from the paper package. Instead, the focus is on sustainability and going green. Save about 20% of paper as the CRA reduces each package by approximately 30 pages. Information on the changes to the 2023 income tax package is available online.
4. SimpleFile by Phone
Eligible individuals may receive an invitation for SimpleFile by phone, the CRA's automatic tax filing service. Verify personal information and answer questions using your phone's keypad. It's free, secure, and eliminates the need for forms and calculations.
5. Consider Filing Online
Did you know almost 93% of tax returns were filed electronically in 2023? Consider the advantages of electronic filing, such as faster processing within two weeks compared to up to eight weeks for paper returns. Use the CRA's NETFILE service, explore free NETFILE-certified tax software, and simplify the process with Auto-fill my return. Signing up for direct deposit could mean receiving your refund in as little as eight business days.
6. Explore Digital Services in My Account
Go beyond filing – leverage My Account for additional digital services. Change your return and personal information, submit documents, track enquiries, and check for uncashed cheques. Make the most of the convenient and user-friendly options available.
With these tips, your paper filing experience can be efficient, environmentally friendly, and in line with the CRA's commitment to providing support to all Canadians during tax season. Happy filing!
