All relevant and most up to date information is readily available on CRA web site Canada Revenue Agency - General Info.
Most information and answers to FAQs provided below is taken from CRA's General Income Tax and Benefit Guide.
Generally, there is no minimum age to file a tax return. If you meet one of the above requirements, CRA expects to receive a return from you.
Even if you do not have any income it is still a good practice and is recommended that you file your taxes once your age is 18 years or older. This lets CRA know your income situation and that you are up to date. Failure to file a tax return will result in termination of various benefits such as Child Tax Benefit, Universal Child Care Benefits, the Working Income Tax benefit, etc.
"Zero" return is an income tax return when you have no income to report or income tax to pay for that tax year. It is still a good idea to file a "zero" return, as you may qualify for tax benefits such as GST/HST Tax Credit, Canada Child Tax Benefit or various Provincial tax credits.
In order to file a tax return you need to have:
You should have received most of your slips and receipts by the end of February. However, T3 and T5013 slips do not have to be sent before the end of March.
If you are missing T-slips, we will contact the CRA on your behalf to get the missing information.
If you have to file a return for any given tax year, file it on time even if some slips or receipts are missing. You are responsible for reporting your income from all sources to avoid possible interest and/or penalties that may be charged.
If you know you will not be able to get the missing slip by the due date and if you have registered for My Account, you may be able to view your tax information slips online by going to www.canada.ca/my-cra-account.
In addition, you can use your pay stubs or statements to estimate your income and any related deductions and credits you can claim. Enter the estimated amounts on the appropriate lines of your return. Always keep the original documents for future reference.
In general, that date is usually sometime in late February. The actual date that you can file your taxes electronically is announced by CRA annually early in the year.
Tax returns can be prepared and filed for up to 10 prior years. Don't let another year go by, call us today. You may be entitled to Federal and/or provincial tax credits or benefits that you are missing out, because you did not file.
Keep copies of your tax returns for at least 6 years or longer. Most people don't need to worry about tax fraud investigations and unreported income but you should keep a copy of your return, particularly if you enlist the help of a tax professional. Your previous tax returns will help you to see trends in your income taxes to better prepare for your future tax returns. If you switch tax preparers it is beneficial for them to review previous years to determine whether any credits or deductions that where missed or need to be carried forward from previous years.
Generally, you need to be 19 years old to be eligible for this credit, but in some circumstances even at a younger age; when you have a child that lives with you for instance or you have a spouse or common-law partner. But you must file your tax return for a previous year, the year you turned 18 years old (or earlier in some circumstances), in order to be eligible.
On a first pay period after you turn 19, but remember that you have to file your tax return for a previous year, the year you turned 18 years old, in order to be eligible.
Generally, YES, you can claim those premiums as part of your medical expenses.
You do not have to claim all of the donations you made this year on your current year return. It may be more beneficial to carry them forward and claim them on your return for any of the next five years. Generally, the amount of donations over first $200 will give you higher tax savings.
When you make an RRSP contribution you get to deduct that amount from your taxable income. The investments inside your RRSP grow free of tax while they stay in the plan. Down the road, however, when money is withdrawn directly from the RRSP or from the registered retirement income fund (RRIF) or annuity to which the RRSP has been converted, it will be taxable.
TFSA is the mirror image of an RRSP. You contribute after-tax dollars. In other words, you don't get a deduction for your contribution in the current year. But once the money is in the plan, it not only grows free of tax, but also comes out free of tax.
Both RRSP and TFSA has limits as to how much you can contribute annually. Check your Notice of Assessment for those limits.
The deadline is February 28 (most years).