Tax Links

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Do you have to file a tax return?

You have to file a tax return for 2003 if any of the following applies:

  • You have to pay tax for 2003.

  • CRA sent you a request to file a tax return.
  • You disposed of property in 2003 (for example, if you sold real estate or shares) or you realized a taxable capital gain (for example, if a mutual fund or trust attributed amounts to you, or you are reporting a capital gains reserve you claimed on your 2002 return).
  • You have to pay back any of your Old Age Security or Employment Insurance benefits.
  • You have not repaid all of the amounts you withdrew from your registered retirement savings plan (RRSP) under the Home Buyers' Plan or the Lifelong Learning Plan.
  • You have to contribute to the Canada Pension Plan (CPP). This can apply if, for 2003, the total of your net self-employment income and pensionable employment income is more than $3,500.

Tax return filing due date and mailing address

Your tax return for 2003 has to be filed by April 30, 2004. Mail your taxes to:

St. John's Tax Centre - (888) 832-1728
290 Empire Avenue St. John's NL A1B 3Z1

Fast cash

Did you know ... If you file your income tax return electronically, you may get your refund within eight business days. If you file electronically and use direct deposit, you can get your refund even faster.

Filing electronically is easy, convenient, and environmentally friendly. If you use NETFILE, EFILE, or TELEFILE, you get immediate confirmation that your return has been received, you have no mailing costs, and you don't need to send any receipts unless the CRA asks for them.

If you want us to deposit your refund directly into your bank account, you need to send a request for direct deposit to the CRA.

For more information on electronic filing and direct deposit, CLICK HERE.

Take it to the limit

Did you know ... A Registered Retirement Savings Plan (RRSP) can help you save for retirement, education, or even to buy your first home. You have until March 1, 2004, to make your contributions so that you benefit from your RRSP on your 2003 tax return.

To find out your RRSP deduction limit for 2003, you can use the new My Account online service or call the Tax Information Phone Service (T.I.P.S.) at 1-800-267-6999.

My Account lets you get personalized information about your RRSP contributions and deduction limits and your contributions to the Home Buyers' Plan or Lifelong Learning Plan. You can also access information about your Canada Child Tax Benefit and goods and services tax/harmonized sales tax credit, as well as information about payments, instalments, outstanding balances, and statements of account.

For more information on RRSP, visit www.ccra.gc.ca/rrsp or log on to My Account at www.ccra.gc.ca/myaccount.

The Top 10 Deductions Missed by Taxpayers

We have included a printable list compiled by MSN.ca of some common areas where people miss out on deductions. CLICK HERE to go to the list.

 

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Canada Revenue Agency (CRA)

RRSP Tax Savings Calculator

Taxtips.ca - Canadian Tax and Financial Information

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Tax Tips For Canadians For Dummies

Tax Tips For Canadians For Dummies
 by Christie Henderson

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