Even though it’s not, tax returns feel like a gift. FREE MONEY!
I found the whole process of getting my tax money back quite perplexing but it’s actually piss easy. If you work and part of your earnings go to the Canadian government in the form of tax, then you are more than likely to be eligible to get that tax back!! You have been a good citizen/resident and now you are are entitled to get your paper back! You have until APRIL 30th to do so.
If you are a wiz with numbers, I’m sure you could save a couple of bucks and do it yourself. I on the other hand am not and opted to get someone else to do it for me and keep my stress levels to a minimum. Here’s what I did…
1. Collect T4’s from your employer. These should be available to you in February. I also kept my payslips but was told that I didn’t need them to claim my tax back.
2. You can also claim extra money back by saving the following things and bringing them with you when you go to get your tax returns done.
- Metro passes
- Rent receipts
- Proof of medical expenses
- Proof of charitable expenses
3. There are various places you can go to get someone to do your tax returns. The most well known one in Toronto is the H&R Block. There are quite a few dotted around Toronto (www.hrblock.ca/office/). For a basic tax return it will cost you $95. H&R block also keep 10% of your overall tax return, so I opted to go with Tax To Go instead (www.taxtogo.ca). There is only one office in Toronto, which is a bit far out but it is well worth it, as it only costs $45 and you get to keep ALL YOUR MONIES!
4. When I arrived at Tax to Go I literally did nothing but hand the lovely guy there my T4s and metro passes and let him do his thing. It took about 15 minutes and now I am set to receive a cheque in the post for $2318 in two weeks. Easiest money I’ve ever made.
Get it done ladies and gents!