Three tax filing tips to make or break your filing this year

During the holidays, Canadians may find they have a bit more time on their hands than usual. While it may be preferable to use this break to cross off all the items on your Netflix list, it’s also a good time to get organized for the upcoming tax season.

H&R Block has compiled the top three ways Canadians can prepare for the upcoming tax season below. If you have any questions or want to speak with a Tax Expert on an any of these, I’d be happy to arrange a time for you to connect.

Mark your calendar: It helps to flag all relevant tax-related dates on your calendar now so they don’t sneak up on you. For example, February 18, 2019 is the day the Canada Revenue Agency (CRA) will open for electronic filing. April 30, 2019 and June 15, 2019 are also key dates – they’re the deadlines for filing 2018 personal tax returns (the latter date if you’re self-employed).

Track down receipts: Every year, thousands of Canadians leave money on the table by not claiming all the credits and deductions available to them. One of the reasons for this may be that receipts have gone missing. With the spare time, organize your Photo: Financial Guardian

bills, tuition receipts, transit passes, charitable contribution receipts and medical bills which will be needed to claim.

Check out a tax calculator: It’s always a good idea to get a sense of what your tax situation might looks like ahead of time. To help find out approximately how much you’ll be getting back or how much you may owe, use a tax calculator.