Let's Talk Tax

Of course, you can still transmit tax returns for the years 2017 to 2022 via NETFILE. As for Revenu Québec, you will be able to file original tax returns for the years 2020 to 2022 and amended returns for 2020 to 2023 as of February 19, 2024.

Your 2023 tax return needs to be filed on or before April 30, 2024.

This year NETFILE opens February 19, 2024.

Absolutely but, you should keep any slips or supporting documents for six years in case the CRA selects your return for review.

That depends. Many people enjoy receiving a tax refund, but getting a tax refund just means you've paid too much throughout the year.

This depends on whether or not you have tax to pay. If you don't owe taxes, you won't pay penalties. The CRA will keep your refund and you won't receive any of the credits you're entitled to. If you owe taxes, expect penalty charges and daily interest on any unpaid tax.

Not a problem. Sign into the CRA’s My Account service and it will tell you everything you need to know.

If you can’t pay the taxes you owe right away, don’t delay and contact the CRA as soon as possible. If you don’t pay, the CRA will charge interest on a daily basis on any amount you owe until it is paid in full. Make sure you also file on time so you don’t add penalties to your interest charges. Ignoring the problem will not make it go away.

You can. But it’s not as much fun. Besides, using NETFILE ensures that you get a confirmation when you tax return is received and get your refund faster!

The burning question! The average refund in Canada is $1,870. What are you waiting for?

With UFile, it’s easy to register for the Direct Deposit. Simply go to the Refund/balance owing section and complete the Change the direct deposit information. Keep in mind that if you need to change your banking information and want to NETFILE, you should contact the Government and have them update the information before you NETFILE.

The CRA generally takes as little as eight business days to process returns filed using NETFILE. Filing by paper can take four to six weeks.

It happens. File as soon as you can and, if you know you’ll owe money be sure to pay what you expect to owe before the tax deadline. Your 2023 tax return needs to be filed on or before April 30, 2024.