Budgets, Debt Management and Financial Planning for Women

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  • Have You Done Your Taxes?

    A chore few people like to do but one that must be done! The due date for filing personal income taxes to Canada Revenue Agency is April 30th. If you owe taxes, submitting by this date means you will avoid fees and penalties.

    I read an article recently that said that most Canadians would rather clean the bathroom than do their taxes! I think it may be because we only do it once a year and there are often changes that take time to figure out. Tax preparation software can help to make the process smoother but good organization probably makes the biggest difference.

    • Gather all your tax slips and receipts
    • It can be helpful to have your 2010 Notice of Assessment and Income Tax
    • Do it (it will take less time than you think!)
    • Make notes on 2011 for your reference
    • Make notes for 2012

    If all else fails, there are plenty of people who will do your taxes for you. It usually takes less time than you think it will.

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