If you wish to file your Canada tax return to the Canada Revenue Agency (CRA) before the deadline, you should know how to do it accurately.
It is the middle of February, when the Canada Revenue Agency begins the process of Canadian Income Tax Return. You should file your taxes early so that your return may get processed early. You have to wait for at least four weeks to check the status of your refund. You will not be able to know about the status of your tax refund until the middle of the March.
It is really difficult to learn about the processing time taken by the CRA for your return because it depends on the way you file your taxes and the time when you submit your return file. If you file your return before the 15th April and you choose paper filing then you will get your return processed within four weeks. If choose TELEFILE, EFILE or NETFILE for your return, then your file will be processed within two weeks.
And, if you file your income tax return after 15th April using paper filing method, then you will have your return being processed within six months. For TELEFILE, EFILE or NETFILE return will take two weeks to get your file processed.
There are certain things you should remember while filing your Canadian taxes online. You should pay the exact amount of tax you owe. You can also benefit from certain things like HST/GST Credit or the Guaranteed Income Supplement under the Old Age Security Program.
You should not miss the deadline for paying taxes set by the CRA. The deadline for filing Tax Return is 30th April. Generally, Canadian individual returns for any specific year must be filed by April 30 of the subsequent year. If you file your income tax return after the deadline, then the Canada Revenue Agency will charge you a penalty and interest on your unpaid amount.