This article is all about the very simple, but important information that you need to use for filing a Canadian income tax return. There are some reasons that many Canadian resident need to file an income tax return for the prior year. They do it to pay the right amount of the tax they owe, to pay back overpayment of benefits, or to claim certain benefits.
You may also have to file a Canadian income tax return if you are an international and nonresident individual as well. However, before you start on your income tax return, then you have to ensure that you gather the information necessary for this. We’ll show you what they are:
· Your social insurance number.
· Your tax information slips – these are information slips that are sent by your employers, banks and businesses to indicate to you and the CRA the amount of income you received and the tax which was deducted from it.
· Any information you have on other financial information you have, which includes self-employment income.
· Your tax deduction receipts.
· Your personal income tax information, like your RRSP contribution limit.
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