| With the April 30 tax deadline mere days away, it is | | | | you will need to include Forms 2204 (CPP) and Form |
| time to file if you have not already done so. Filing in a | | | | PD24 (EI) in order to make this claim and get the credit. |
| hurry often leads to sloppy paperwork and unclaimed | | | | If you are using tax software, it will do this |
| receipts that could earn you a refund. With the | | | | automatically. |
| deadline so close, most people won't take the time to | | | | If you are a business owner, you can split your income |
| go in search of those medical receipts or the ones for | | | | with family members as long as that family member |
| their kids' lessons. They will simply just file what they | | | | works for the company. To claim this eligible pension, |
| have handy. | | | | Form 1032 must be completed and submitted with |
| With so many credit and tax deductions available, it | | | | your tax return. If you are collecting CPP payments, |
| can be difficult to know what to claim and | | | | you can split this income as well under certain |
| unfortunately, it is up to us to figure it out as the | | | | circumstances, but you will have to apply to Service |
| Canada Revenue Agency is not going to point them | | | | Canada for detailed information. |
| out for us. In order to take advantage of what | | | | The Canada Revenue Agency will correct any |
| Canadians are able to claim, here is a list of | | | | mistakes they find on your return, however, they won't |
| suggestions that should help with filing and earn you | | | | necessarily point out any credits or deductions you |
| back some cash. | | | | miss so it's important to make certain you take |
| If you find old receipts or expenses from things such | | | | advantage of all the claims you're allowed. It pays to |
| as medical bills, you can complete a T-1 adjustment | | | | start preparing your tax return early to give yourself |
| form and include the slip on your previous returns. | | | | enough time to find the receipts you need to get the |
| These expenses cannot just be added to the following | | | | most back from your return. |
| years tax returns. You can go back up to ten years to | | | | Even though you may receive a refund, you still need |
| correct errors, but these adjustments have to be filed | | | | to keep receipts in the event you are asked to provide |
| on paper and can take a month or two to get | | | | documents. If you do not get a refund this year and |
| processed. Charitable donation receipts can be | | | | are in need of some extra cash to make your tax |
| combined for up to five years. | | | | payment, a private bad credit loan may be helpful. |
| If you feel that you have overpaid into your CPP and | | | | Some lenders provide no obligation, on-line applications |
| Employment Insurance during this last tax year then | | | | 24-hours a day. |