|With April 30 coming our way soon, now is the time to start thinking about income tax. There is a bit of administrative work required for income tax filing, even before obtaining your T4 from your employer. Some things that I like to get out of the way are:
- Open a folder or get an envelope to put your tax documents in for 2013. Call it “2013 Tax folder”
- Keep an eye on all the tax slips and tax receipts you will soon receive in the mail . Look and file them in that “tax folder”.
- These receipts are RRSP receipts, Donation receipts, T5, T3, T4s, T4E etc.
- Students, go to your school or university website and print your tuition receipts now.
- Gather receipts for childcare, children fitness programs , arts programs, prescription drugs, dentist visits; and, ask your Group Insurance company for a year end print out of medical and dental expenses.
- Print our useful checklist and use them to ensure you are not missing any valuable document.
- Our tax deadline for submission is asap please but not before March 1st as you will unlikely have received everything and not after April 15 to meet the April 30 deadline.