Tax Returns Simplified for Newcomers to Canada

3 minute read

Are you an immigrant or newcomer to Canada, wondering how to file your taxes for the first time? It may seem overwhelming to collect all the information required and find out how to file your tax return correctly. This guide will outline everything you need to know about filing a tax return in Canada.

Written by My Visa Source Team
Published on: Apr 10, 2023

Who Needs to File Taxes in Canada?

You must file taxes in Canada if you have significant ties to the country. Whether you have just become a Canadian citizen, permanent resident, or temporary resident on a work or student visa, it is recommended by the Canada Revenue Agency (CRA) that you file your taxes even if you did not make an income during the tax year. You should file your tax return even if you did not live in Canada for the entire tax year.

By filing your taxes, you can determine if you are eligible for any credits from the government. Submitting your tax return and making any outstanding payments on time is essential to ensure that you will receive refunds or credits promptly.

What is the Deadline to File Taxes?

The deadline to file your taxes in Canada is usually April 30. However, when the deadline falls on the weekend, the deadline will move to the next business day, making the deadline for this year May 1, 2023.

For self-employed individuals and their spouse or common-law partner, the deadline to file taxes is June 15, 2023.

You can begin filing your taxes online on or after February 20, 2023.

What Do I Need to File My Taxes?

First and foremost, you need a valid social insurance number (SIN). This number is required to work in Canada or open a bank account and will also be needed for your taxes. You can request a temporary tax number (TTN) from the CRA if you cannot obtain a permanent or temporary SIN.

You will also need to collect all of your tax slips. Some common forms that you may have include:

T4 or T4A slip. This document is a report of your income and should be provided by your employer.
T5 or T3 slip. These forms will report any investments you may have. You can get this form from your bank if applicable.
T2202A slip. If you are a student, this form will report your tuition and payments to your educational institution.

How Can I File My Tax Return?

You can file your Canadian taxes in a few different ways. To file your tax return online, you can use certified tax software to submit your return independently. You can also have a professional tax preparer file your taxes electronically. Electronic filing typically has a processing time of two weeks. However, if you choose to submit your tax return by mail, your processing time can be eight weeks or more.

For those with a modest income who may require additional support when filing their taxes, you can look for a free community volunteer tax clinic in your area. The entire purpose of these clinics is to assist anyone who may need guidance filing their taxes, like a newcomer or immigrant to Canada filing for the first time. You can usually receive assistance from a community tax clinic in person or virtually.

In some cases, the CRA may contact you about completing your tax return over the phone through an automated system or with help from a CRA agent. This option is available by invitation only.

After You File Your Taxes

After you have submitted your tax return and made any outstanding payments, your submission will be processed, and you will receive a notice of assessment. This document evaluates your tax return submission and is sent to you by the CRA. Your notice of assessment will tell you if you owe any outstanding payments, or it will inform you of any credits you will be receiving.