Canada Tax Session 2021: How to File Your Taxes
There are a lot of ways available for filing taxes in 2021. You can choose any of these options according to your preference. Some of these options include:
Online Tax Software: Many brands of tax software offer you ways to file your taxes. You can choose either the free versions or paid versions depending on the amount of assistance you need through the process. Some of the popular tax software in Canada include TurboTax Online, Simple Tax, H&R Block Tax, Studio Tax, and Cloud Tax.
Turbo Tax offers both free and paid versions of the software. Simple Tax, on the other hand, is free.
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Tax software makes it easy for you to file your taxes by allowing you to connect to an existing CRA My Account and use the “autofill” feature to fill out some of your information. With this automated process, you are also less likely to make any errors.
Using online software also allows you to send your tax returns directly to CRA through NETFILE and get your refund back within 8 business days. Moreover, you will also have the tax information for the previous year saved online that can be accessed for reference in the future.
Paper Return via Mail: Many people choose to do their taxes in old ways. In some years, CRA mails tax forms to paper filers in order to make the process quicker. If you are someone who prefers to file a paper return and have not received the mail, you can order a paper copy starting on January 12, 2021.
Paper filers who are expecting a tax refund will need to wait up to 8 weeks.
CRA File My Return: The CRA is offering to assist low-income individuals to file their tax returns via automated phone service for the 2021 tax session. It is an entirely free service and eligible persons will be informed through the mail. (Details here )
Community Volunteer Income Tax Programs: This program brings tax clinics across Canada to assist individuals with modest incomes and simple taxes in completing their tax returns. The program will be available in 2021 through video conference, phone, and through document drop-offs arrangements.