Roberts Nash Advisory Group

When to File Your Taxes

Each year many Canadians rush to complete their taxes in an effort to gain back hard earned dollars that CRA has been holding onto - interest free.

However, in this rush many Canadians forget to include many important tax slips, and this can cause subsequent costly re-assessments.  In this technological age, CRA is receiving information directly on a digital basis for reporting. Mistakes are getting caught sooner, and more frequently.

Tax Slip Deadlines you should know:

T Slip or Form

Reporting Deadline

T4 Slips (T4, T4A, T4OAS, T4A(P), T4E, T4RIF, and T4RSP

February 28

T5 Slips  T5 Statement of Investment Income

February 28

T5007 Statement of Benefits  

February 28

T5008 Statement of Securities Transactions – individuals  

February 28

T3 Slips Statement of Trust Income Allocations and Designations

March 31 (often late and often amended

T5013  

March 31 (and often late and often amended)

RC62 Universal Childcare Benefit Statements  

February 28

RC210 Working Income Tax Benefit Advance Payments Statements

February 28

RRSP Contribution Receipt –

                  First Period – last 10 months (March to December) of the tax year                     

                  Second Period – first 60 days of the following year

 

Gain Loss Reports – Produced by your investment firm

By Request

T1135 Foreign Income Verification Statement – Produced by your investment firm

March 31

 

  • “Reporting Deadline” refers to latest date at which each form is supposed to have been filed with CRA

  • Additional slips may be needed before filing your tax returns dependent upon your personal situation. The slips reported above are the most common with regards to investments.

The particulars contained herein were obtained from sources that we believe reliable but are not guaranteed by us and may be incomplete. The opinions expressed herein do not necessarily reflect those of National Bank Financial. National Bank Financial is not a tax advisor and we recommend that clients seek independent advice on tax-related matters

 

** I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of National Bank Financial Group. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by the Research Department of National Bank Financial **

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