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HomeNewsTax season is upon us, here is what you need to know

Tax season is upon us, here is what you need to know

It is that time of year again.

Tax season is here, and Canadians from coast to coast are starting to file their paperwork.

“It is always to start off by being as organized as possible,” David Nunes, a spokesperson from Canada Revenue told Vista Radio.

He said your tax return will look nearly identical to 2021’s return, “which is a great thing. Keeping taxes simple makes it easier to file and prevents a few headaches.”

Even with it looking the same, Nunes said common mistakes still happen, and to prevent future headaches, give everything a good once-over before submitting.

“Common mistakes we see can be as innocent as keying in a wrong number,” he said. “It is a good reminder to have your books and records for anything you are claiming… so if there is a mistake, it is really easy to refile your tax return and fix those mistakes.”

Jeffery Zhang, H&R Block’s District Manager, added keeping organized is very important to tax season in general, not just for correcting mistakes.

“Filing taxes can be very intimidating,” he said. “Get all your documents in place, make sure you aren’t missing anything.”

Zhang said he advises all of his clients to file away all of their documents in a file or safe place to make the process quick and easy.

This year, Zhang said there are new tax credits, including a new renter’s credit, a housing benefit, a dental benefit, and a working from home claim.

Tax season also comes with a spike in scam calls, Nunes warns people to be cautious of suspicious calls and emails, and that the CRA is available to help discern what might be real or not.

This year’s deadline is May 1st. If you miss that date, there is a 5% additional fee on any balance owing.

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