Haven’t filed your 2012 tax return? The good news is, you’ll still be able to file it electronically until January 2014.
Previously, Canada Revenue Agency (CRA) cut off electronic filing through its NETFILE service on September 30. But now, for the 2012 tax year, the CRA will accept electronic returns until January 17, 2014.
There are some restrictions, like you can only file your own return through the service, not someone else’s. And you must use software or a Web application that generates a data file with a .tax extension; you can find a list of them at http://www.netfile.gc.ca/sftwr-eng.html.
Additionally, you can’t change any personal information, like your address or marital status, through NETFILE, since that information isn’t transmitted with the .tax file. The CRA will use the address it in its records. To change your personal information, open a My Account account with the CRA before filing electronically.
Five million Canadians used NETFILE to file their tax returns last year, and for many good reasons. The data doesn’t have to be rekeyed from the paper version, so there are fewer errors; you receive your refund more quickly, in a little over a week if you use direct deposit; there’s no need to enclose receipts (but keep them on hand in case the CRA asks to see them later); and you get an immediate confirmation that your return has been received.
Also, as of this year, you don’t need an access code mailed to you by the CRA. The system verifies your information by social insurance number (SIN) and date of birth.
There are circumstances under which you can’t use NETFILE. For example, if you are a non-resident, have income from a business outside the country or if you declared bankruptcy in 2012 or 2013, you’re not eligible to use NETFILE.
If you want to get a jump on your 2013 tax return, you’ll have to hold your horses until early February, when the system opens for the current tax year. If you owe the government money and want to avoid a penalty, though, get on it early – the system gets extremely busy as the deadline approaches, and if you wait until the last minute, you might miss the deadline.