For Canadians, the beginning of a new year mean tax season for us all. For the first three months, it’s common to see people scrambling to collect all the documents they will need to file a complete return and maximize their refund. Have you filed for the 2016 tax return yet?
If you have not – you better hurry! The deadline for filing is April 30th, 2017 and since this date falls on a Sunday, your return will be considered on time if it is filed on or before May 1st 2017.
Here are some important documents you may need to begin filing your return, some may or may not apply to you:
T4, Statement of Remuneration Paid
T4A, Statement of Pension, Retirement, Annuity, and Other Income
T4A(OAS), Statement of Old Age Security
T4A(P), Statement of Canada Pension Plan Benefits
T4E, Statement of Employment Insurance and Other Benefits
T4RSP, Statement of RRSP Income
T5007, Statement of Benefits
RC62, Universal Child Care Benefit statement
RC210, Working Income Tax Benefit Advance Payments Statement
So, what happens if you’re unable to obtain a T4 from an employer you worked for and earned an income in 2016?
If you don’t have the T4, you still have to file before the deadline! To calculate your total employment income to enter on line 101 on your return, income tax deducted, CPP, EI, and any pension or union dues paid, CRA recommends using an old pay stub to calculate a prorated figures for the year.
For more information on to get help filing your 2016 tax return, contact the professionals at Softron Tax. Our tax professionals are up-to-date with current tax changes to maximize your refund or minimize your payments.