How to File Your Taxes 101

What are Taxes?

Taxes are a sum of money that is requested by the government to support specific facilities and services within Canada. There will be an income tax deduction on your paystub that will be accumulated over the year. During the tax season, your employer will provide you with a T4 Slip that is needed in order to submit your taxes each year.

What is a T4 Slip?

A T4 Slip is a summary of your employment earnings and deductions for the year. If you do not get your T4 Slip by the end of February, you can ask your employer for a copy.

Is there a Deadline to do Your Taxes?

Yes! April 30^th of each year is the deadline to file personal income taxes. June 15^th of each year is the deadline to file your taxes if you and your spouse or common-law partner are self employed.

What is Needed Before Starting to File Your Taxes?

• Social Insurance Number (SIN)
• T4 Slip(s) from place(s) of employment
• Set up your Canada Revenue Agency (CRA) account

Three Options to File Your Taxes

1. File your taxes for free online using Turbo Tax
2. Walk into a Liberty Tax Service and pay a fee ($75+) to get your taxes handled by a professional
3. Find a free tax preparation clinic near you

More Helpful Resources on Filing Your Taxes

Get ready to do your taxes – Get ready to do your taxes – Personal income tax – Canada.ca

After Completing Your Taxes for the First Time

You can manage your taxes and benefits through your CRA Account. This is where you can set up an option to have your tax return directly deposited into your bank account. If you do not have this option selected, your tax return will be sent to you in the mail as a cheque.

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