Know your Taxes!

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Do I need to file a tax return?

If you earn over $3,500 per year through an employer or through self-employment, the CRA requires you to pay Canada Pension Plan premiums, and it also requires you to submit an income tax return. Additionally, if you are paying employment insurance premiums on your income you typically have to file a return.

 

Where can I do my taxes?

Option 1: you can access SAITSA’s Community Volunteer Income Tax Program. They will be set up outside MC107 starting March 12, 2018. See details below.

Option 2: you can pay an organization such as H&R Block

Option 3: you can do them yourself online through a program called TurboTax.

 

What do I need to file a tax return?

The basics are as follows:

  • A Social Insurance Number or Individual Tax Number (for those without a SIN)
  • T4s from any employer that you worked for
  • T2202A – proof of tuition fees paid; this will be available to you via mysait.ca
  • T4A – scholarships or bursaries
  • T4RSP – RRSP contribution

 

Community Volunteer Income Tax Program

To be eligible to use our free service, you must fall within the categories below:

  • Maximum salary of $30,000 for an individual
  • Individual with one dependent $35,000 (add $2,500 for each additional dependent)
  • Married/common-law couples must have a combined income of less than $40,000 (add $2,500 for each dependent)
  • Single parents with income less than $35,000
  • Have less than $1000 in interest income (We will process dividend and interest income, RRSP and RESP slips but they must be below $1000)
  • Must not own rental property or have rental income
  • Must not own foreign property
  • Must not have capital gains or losses
  • Must not be self-employed or have self-employment income
  • Must not have farming income or commission income

 

What do I bring?

In order to have your taxes done through SAITSA, please bring all your paperwork to MC107. Paperwork should include:

 

T4 (employment income)
Old age security
T4E (Canadian Pension Plan)
RC-62 (Universal Child Card Benefit)
T4A or other (Scholarships and Bursaries
T22-02A (Tuition, Education Credits)
T4E (Employment Insurance)
T4RSP or RRSP (RRSP Income) (Requires Previous Notice of Assessment)
RL-5 (Worker’s Compensation)
T5007 (Social Assistance)
Donation, Political Contributions
Transit Pass Receipt (does NOT include U-pass paid with tuition)
Universal Transit Pass Receipt (from Mysait)
Moving Expenses (must include receipts)
Alimony, Maintenance Income
Medical Expenses (must include receipts)
Notice of Assessment (previous year)
Childcare expenses (must include receipts)

 

For More Information

Go to MC107 or email SAITSA.TaxProgram@gmail.com