When can you file your Canadian tax return? Now!

admin

Are you wondering when you are able to file your 2018 Canadian tax return? Wonder no further, as CRA have finally opened up EFILE!

Congratulations, you have made it to the EFILE opening date. Your tax refund is nigh

What is EFILE

Contrary to popular belief, EFILE is not a mythical portal invented by the tax god, although it is definitely as interesting…. Maybe not.

By opening EFILE, tax accountants around the country are now able to file tax returns online on behalf of their clients, with the click of a button. No magic involved, sorry HP fans.

To bE-FILE or not to bE-FILE? That is the question.

That really is the question. Almost everyone is able to EFILE. There are certain criteria which force some unlucky folk to print, sign and then mail their tax returns to CRA. This archaic form of communication is not only annoying for people who do not have access to a printer, it also means their refunds can take up to 10 times longer to be issued by CRA.

Some people out there (we don’t hold you personally responsible) are unfortunately spreading rumors about first time tax return filers. It is most certainly possible to file your tax return online if you are a first-time filer. There are some unlucky first-time filers who receive error messages about filing online, who ultimately believe it is the same for every other first time filer out there.

Make life easier, perks of EFILE

A few things to consider before filing your tax return. Probably the greatest thing about using a tax accountant to file your tax return with EFILE is that they can sign you up to receive your refund via direct deposit, yes you read that correctly. By letting your tax accountant know your direct deposit details you will receive your refund even quicker, and won’t have to make the long trek to the bank with your cheque.

If you have changed address since the last filing of your tax return (or have never filed a return), make sure your tax accountant updates your address with CRA when they EFILE your return, this option is not available to individuals using turbo tax or other free software to NETFILE their returns. This will make sure all CRA correspondence finds its way to you.

When using EFILE your tax accountant is required to answer to CRA. Every accountant with an EFILE number has their activity audited annually by CRA. EFILE accountants are required to abide by the rules, file tax returns accurately and serve their clients in an ethical manner.

Myths/Fake news/Terrible advice – The truth

  • You CAN file online as a first-time filer
  • Not everyone filing for the first time receives a full tax refund
  • EFILE is not NETFILE
  • You do need to declare your non-resident foreign income if you are a ‘newcomer’

If in doubt, get in contact us and we can answer any questions you may have and start preparing your free tax return quote for 2018, today.