The Canada Revenue Agency officially kicks off this tax season with the opening of the electronic filing system on February 11, 2013. Although the filing deadline for most people is April 30, the system will continue to accept 2012 tax returns until November 30, 2013. After this, you will need to paper file your return.
If you are filing your own return, the NETFILE system has undergone some changes to simplify the process. They are:
- No more NETFILE access codes: These used to be mailed separately but now the CRA will just need your Social Insurance Number and Date of Birth to file your return. So you will have one less piece of paper to keep track of when you prepare your return.
- First-time filers can use NETFILE: No longer will first-time tax filers be unable to use NETFILE to submit their first tax return. However, new Canadians still cannot NETFILE their returns.
- Longer window: The CRA added an extra 60 days to the electronic filing deadline last year, so you can procrastinate even longer.
- No paper forms mailed: If you are expecting a tax package from the CRA, you will be disappointed. You have to request a package by phone or pick one up at a Service Canada office or post office. You can also download the tax forms on the CRA site.
If you are planning to use NETFILE, you have to use a certified tax software package. You can find a complete list of approved products on the CRA’s website.
You may also want to investigate registering for the CRA’s My Account, which will give you access to more of your tax information online, including old T4s and Notices of Assessments. It can be handy to refer to your older returns when you are filing, and now you no longer need to dig out your paper files.
With these changes, the CRA has made NETFILE even better and easier to use. And if you are not signed up with My Account already, consider doing so now. Signing up doesn’t take too long.