Filing Tips for Beginners
Filing Tips for Beginners
Tax Services
Tax Services
Tax Services
Most commonly used tax forms
T1
This is not an actual form you fill, but an overall umbrella of forms that you will look for when you want to file your taxes. The main federal tax and benefits form that is used by all Canadians, and anyone who has worked in Canada, to file their taxes.
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WHO IS IT FOR?
Anyone who has earned an income in some capacity in Canada must file this form. Once you begin earning an income, you must start filing this form, and you must continue to do so even if you do not earn an income in subsequent years.
RELEVANT DATES
This form and taxes payable are generally due April 30th. If April 30th falls on a Saturday, Sunday, or CRA-recognized public holiday, then the form and payment are due on the following business day.
This form must be filled out and filed during April of every year, so it is best to ensure you have all relevant/required documentation before this time.
A federal tax form that is provided to post-secondary students as proof that they’ve paid tuition. Information on this form can be used as a tax credit on your T1 form to lower the taxes you have to pay (see: deductions vs credits for more info).
**Note: Only fees you have actually paid appear on this form. Fees owed are NOT included, although they will appear on the next T2202 form after they have been paid.
WHO IS IT FOR?
This form is filed by qualified educational institutions (e.g., Windsor University). Students DO NOT have to include this form when filing their personal income taxes; however, students must be able to provide the form if the CRA requests it, so the form should be kept in a secure location (preferably with other tax-related documentation).
RELEVANT DATES
Applicable students should have access to their most recent T2202 forms in February.
T2202
T4
Tax form that employees received if they have gotten salaries, wages or compensation at their current workplace(s).
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WHO IS IT FOR?
Even though this form is filled by employers for their employees, this applies to any individual who works in the current taxation year or the year that the tax return is being filed for.
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RELEVANT DATES
Applicable individuals should have access to their most recent T2202 forms in February.
Statement of Pension, Retirement, Annuity, and Other Income.Basically, this slip looks into any other income received. This is commonly seen when a student receives a scholarship as well.
WHO IS IT FOR?
This is for any individual who takes part in the activities mentioned above, or the ones that CRA approves furthermore. Very commonly, you are to treat these as T4's since they are income.
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RELEVANT DATES
Applicable individuals should have access to their most recent T2202 forms in February.
