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Life Advice from Ellie & Dutch

Q: Help! I don’t know how to do my taxes! – A very confused Doggo

 

E: Might I suggest that you just tear up the paper? I don’t know what taxes are, but I would reckons they aren’t that important if you can’t easily figure it out on your own.

D: Well, first and foremost, you must gather your tax information. Commonly this includes a T3 Statement of Trust Income Allocation and Designation, T4 Statement of Remuneration Paid, or T5 Statement of Investment Income. If you’ve received CERB, CESB, CRB, CRSB or CRCB payments, these are considered taxable income. You will need to file the amount you received on your return. You should have received a T4A and/or T4E tax slip in the mail with the information you will need.

You can file your taxes using a software program, or by paper. You can also file your taxes by phone with File my Return. You can also use the Community Volunteer Income Tax Program, where community organizations host free tax clinics for those with a modest income and simple tax situation.

Make sure you understand all of the information you are required to submit, and be sure to review your tax return a few times to make sure all the needed information is there.

For most individuals, your taxes are due by April 30, 2021. If you are self-employed or have a partner that is, those taxes are due by June 15, 2021.

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