T1 General: A Simple Guide to Filing Your First Tax Return

The T1 General Income Tax Return plays a vital role in every Canadian taxpayer’s life. This complete form summarizes your financial year. You need to file this document to report your taxable income and deductions to the Canada Revenue Agency (CRA). It also determines if you qualify for various government benefits. First-time filers often find this process overwhelming.

Your T1 form must be accurate and submitted on time. Most taxpayers need to file by April 30 of the following year. Self-employed individuals get extra time until June 15. Late filing comes with steep penalties – 5% of your balance owing, plus 1% more each month you delay, up to 12 months.

The T1 General form matters even when you don’t owe any taxes. Regular filing helps you keep your access to key benefits like the Canada Child Benefit and GST/HST refundable tax credits. You must report all your income – from employment wages to rental income and investment earnings. This includes any money from foreign investments.

This piece aims to make things easier for first-time filers. You’ll find everything you need to know about the T1 General form here. We’ll show you how to complete it successfully, whether you’re new to the workforce, just moved to Canada, or filing by yourself for the first time.

Understanding the T1 General Form

Canadian taxpayers need to know about one vital document – the T1 General. The T1 General (officially called the “Income Tax and Benefit Return”) helps individuals file their personal income tax with the Canada Revenue Agency (CRA).

What is the T1 General?

The T1 General shows a detailed summary of your financial activities throughout the tax year. You’ll find all your income sources, deductions, and credits that determine whether you owe tax or get a refund. This form also helps you access government benefits such as the GST/HST credit and Canada Child Tax Benefit.

You should file a T1 return even if you don’t owe any tax. Without filing, you can’t receive certain government benefits that need your income assessment.

Key components of the form

The T1 General has five main sections that create a full picture of your tax situation:

1. Identification – Your personal details go here, including your name, social insurance number (SIN), address, and marital status. Business owners must add their business information too.
2. Total Income – List all your income sources for the tax year. This includes employment earnings, self-employment income, interest, dividends, capital gains, rental income, and foreign income.
3. Net Income – Your net income appears after taking away eligible deductions from total income. This number determines if you qualify for various tax credits and benefits.
4. Taxable Income – This shows how much of your income will be taxed after applying all allowed deductions.
5. Refund or Balance Owing – The final numbers reveal whether you’ll get money back or need to pay more tax. A negative number means a refund, while a positive number means you owe tax.

Differences between T1 and other tax forms

People might mix them up, but T1 and T4 forms serve different purposes. Employers give T4 forms to employees who earned more than $696.68 in a calendar year. T4s only show earnings and contributions from that specific job.

In stark comparison to this, the T1 General combines information from all income sources to show your complete tax situation.

Corporate business owners use the T2 Corporation Income Tax Return instead of the T1 form. Sole proprietors and partnerships use the T1 but must also fill out the T2125 Statement of Business or Professional Activities.

The T1 General is different from a Notice of Assessment (NOA), which CRA sends after processing your return. Both have similar information, but banks and lenders want the NOA as the official tax document for loans or other financial needs.

Who Needs to File a T1 Return?

Your T1 general form filing requirements depend on your residency status in Canada. You need to know which category applies to you before determining your tax obligations.

Residents of Canada

We filed T1 returns mainly to pay owed taxes or claim tax credits and benefits. Many government programs link to your income tax filing, so you should submit a return even if you don’t owe taxes. This applies to residents who live in Canada and have strong residential connections like a home, spouse, or dependents in the country.

Non-residents and deemed residents

Non-residents belong to several distinct categories with different filing requirements:

• Non-residents who stayed outside Canada throughout the tax year and earned Canadian source income (such as rental income or employment earnings)
• Deemed residents who lived in Canada for 183 days or more without strong residential ties
• Deemed non-residents who tax treaties recognize as residents of another country

Non-residents must file a Canadian tax return if they earned employment or business income in Canada, or have tax owing. The type of Canadian income you receive determines your tax package. To name just one example, see those with only employment income – they would use the package from the province where they earned that income.

Newcomers to Canada

New permanent residents get their tax residency status right after arrival. You don’t need to file taxes until the year after becoming a resident for tax purposes. You should apply for benefit payments quickly.

First-time filers must report their worldwide income during their time as Canadian residents. This covers income from all sources inside and outside Canada, though tax treaties might exempt certain foreign income.

Deceased individuals

The legal representative (executor, administrator, or liquidator) must file a final T1 return after someone’s death. People often call this the “Final Return.” It reports the deceased person’s income, investments, and taxable property.

The date of death sets the filing deadline. Deaths between January 1 and October 31 need returns filed by April 30 next year. Deaths between November 1 and December 31 get six months from the death date to file.

Filing Deadlines and Penalties

Your T1 General form submission to the Canada Revenue Agency (CRA) needs to meet specific tax filing deadlines. You should learn these key dates and what happens if you miss them to avoid extra penalties and interest charges.

Standard deadlines (April 30, June 15 for self-employed)

The CRA expects you to file your T1 General income tax return by April 30, 2025 for the 2024 tax year. If you’re self-employed, you and your spouse or common-law partner can file until June 15, 2025.

The payment deadline stays April 30, 2025 for everyone. This means self-employed taxpayers must pay any taxes they owe by April 30, even though they can file their returns later.

The CRA gives you extra time if a due date lands on a weekend or public holiday. Your return counts as on time if the CRA receives it by the next business day. To cite an instance, self-employed individuals can file until June 16, 2025, because June 15, 2025, falls on a Sunday.

Late filing penalties and interest

The CRA applies automatic penalties if you file your T1 General late with a balance owing. You’ll pay 5% of your 2024 balance owing, plus 1% more each full month your return is late, up to 12 months.

Repeat late filers face tougher penalties. If you paid a late-filing penalty in any year from 2021-2023, the CRA will charge 10% of your balance owing, plus 2% more each full month your return is late, up to 20 months.

The CRA’s interest on unpaid amounts compounds daily starting the day after your payment is due. You can avoid the late-filing penalty by submitting your return on time, even if you can’t pay everything you owe.

Extensions and special circumstances

The CRA has announced tax relief for certain people filing 2024 returns. “Impacted T1 Individual filers” who report capital gains or losses have until June 2, 2025 to file without penalties or interest. This also applies to T1 filers with capital gains from T3 slips.

T3 Trust filers affected by these changes can file until May 1, 2025 without facing penalties or interest. The relief covers additional forms and elections usually included with returns, like the T1135 Foreign Income Verification Statement.

The CRA might cancel or waive your penalties and interest in special circumstances beyond your control. You must ask for this relief within 10 years from the date of your request.

Required Documents and Information

Your first step to complete an accurate T1 general return starts with gathering all your paperwork. A complete set of documents helps you avoid overlooking income, missing deductions, or making mistakes that could delay your refund.

T-slips (T4, T5, T3, etc.)

Employers and payers prepare T-slips to report your income for the tax year. You should receive most T-slips by February’s end. T3 and T5013 slips might arrive by late March.

The most common T-slips include:

• T4 – Shows employment income, including wages, salaries, and deductions withheld
• T4A – Reports pension, retirement, annuity, scholarships, fellowships, and RESP payments
• T4E – Details Employment Insurance benefits received
• T4A(OAS) and T4A(P) – Show Old Age Security and Canada Pension Plan benefits
• T5 – Reports investment income such as dividends and interest
• T3 – Details income from trusts, including some mutual funds

Missing slips can be requested through your CRA My Account or by calling CRA directly. The CRA’s verification process requires your SIN, full name, birth date, address, and notice of assessment details.

Receipts for deductions and credits

We collected these essential receipts throughout the year that support tax deductions:

• RRSP contribution receipts
• Medical expense receipts
• Charitable donation receipts
• Childcare expense receipts
• Tuition receipts (T2202)
• Home office expense receipts
• Moving expense receipts
• Student loan interest statements

Electronic filing doesn’t require submitting these receipts with your return. Keep them safe in case CRA asks for verification later.

Personal identification and banking info

Your T1 general form needs this simple personal information:

• Social Insurance Number (SIN)
• Full name and date of birth
• Complete current address
• Marital status
• Banking information for direct deposit

Your return’s processing and any refunds might be delayed with incorrect or missing information. New filers should double-check their banking details to receive refunds quickly.

Income Types to Report

The T1 General form needs you to report all your income sources accurately, whatever official slips you have received. You should know what income types to declare to avoid omissions that could lead to penalties.

Employment income

Your T1 return shows employment income on line 10100. Your employer’s T4 slip provides details of wages, salaries, and any deductions already withheld. Line 10400 has other employment income like research grants, clergy’s housing allowance, foreign employment income, and royalties. You must declare your employment income even without a T4 slip.

Self-employment and business income

Self-employment income covers earnings from a business, profession, commissions, farming, or fishing. You must report this non-employment income on lines 13499 to 14300 of your T1 return. Form T2125 (Statement of Business or Professional Activities) helps calculate your gross income and allowable expenses. Partners should report their share of net income or loss from T5013 slip on the applicable return lines.

Investment income

Line 12100 shows investment income from bank accounts, term deposits, GICs, Canada savings bonds, treasury bills, and life insurance policies. Canadian corporation dividends go on lines 12000 and 12010, while investment sales’ capital gains appear on line 12700. Financial institutions issue T5 slips for amounts over $69.67, but you must report all earned interest even without a slip.

Rental income

Your T1 return shows property rental income on line 12599 (gross) and 12600 (net). Form T776 helps calculate your rental income and eligible expenses. Rental income can come from cash payments, in-kind goods, or tenant services.

Foreign income

You must report foreign income in Canadian dollars using the Bank of Canada exchange rate. This covers foreign employment, investments, dividends, and rental income. Foreign tax credits on line 40500 might reduce your Canadian tax liability when you pay taxes to foreign governments.

Deductions and Credits

Tax savings depend on claiming the right deductions and credits on your T1 general return. Your final tax bill changes based on how well you understand these two tax-reducing options.

Common deductions (RRSP, childcare, moving expenses)

Your taxable income drops through deductions before tax rates apply. We used RRSP contributions as the main way to get tax benefits. The maximum deduction limit shows up on your most recent notice of assessment. You can deduct your 2024 contributions to lower your income tax. Any unused contributions roll over to future years when your tax bracket might be higher.

Parents who need care while working or studying will find childcare expenses are a great way to get deductions. You might qualify to deduct eligible moving expenses if you moved more than 40 km to work or study full-time. These expenses include travel costs and utility hookups.

Non-refundable tax credits (basic personal amount, tuition, disability)

Non-refundable credits work differently from deductions. They reduce your tax payable directly but can’t go below zero. The basic personal amount lets you earn CAD 21,882.72 tax-free in 2024. This forms the foundation of these credits.

The tuition tax credit helps with post-secondary education costs over CAD 139.34. People with prolonged physical or mental impairments can claim the disability tax credit. You can carry forward or transfer some unused credits like tuition amounts to eligible family members.

Refundable tax credits (GST/HST credit, Canada Workers Benefit)

Refundable credits stand out because you get them even without owing tax. Low to modest-income Canadians receive the GST/HST credit to help with consumption taxes. Filing your taxes starts these quarterly payments.

Single individuals can receive up to CAD 2,215.44 through the Canada Workers Benefit (CWB). This applies to income over CAD 4,180.08 but under CAD 36,434.98. Families see this benefit rise to CAD 3,816.41. Eligible individuals can also get a disability supplement worth up to CAD 1,143.95.

Provincial and Territorial Tax Considerations

Canadian taxpayers need to pay both federal income tax and provincial or territorial taxes based on their location. Your T1 general return must accurately reflect these regional taxes to avoid surprise tax bills.

How provincial taxes are calculated

Tax rates vary by a lot throughout Canada. Quebec stands alone while other provinces and territories follow the federal tax calculation method. They apply graduated rates to different income brackets. Your residence on December 31 of the tax year determines your provincial tax rate.

Each region creates its own tax credits, rates, and deductions but uses the federal definition of taxable income. The process starts with federal tax calculations on your T1 general, moves to provincial taxes, and combines both amounts to find your total tax obligation. The CRA collects provincial taxes from all regions except Quebec.

Special rules for Quebec residents

Quebec’s tax system works differently from other provinces. Quebec residents file two separate returns – a federal return to the CRA and a Quebec income tax return to Revenu Quebec. This happens because Quebec manages its own provincial tax collection.

Quebec has set its provincial tax brackets for 2024: 14% on income up to $72,148.19, 19% on income from $72,149.58 to $144,275.48, 24% on income from $144,276.88 to $175,563.39, and 25.75% on income over $175,563.39. Quebec residents receive a 16.5% reduction in their basic federal tax to balance this separate system.

Multi-jurisdictional income (Form T2203)

Business income from multiple provinces or territories requires Form T2203 (Provincial and Territorial Taxes for Multiple Jurisdictions). This form helps people who earn business income from permanent establishments outside their home province or Canada.

Provincial tax usually goes to the province where you earned the income. Form T2203 helps split your income between different jurisdictions and calculates each region’s percentage. Your total taxable income faces provincial tax rates, and the final tax amount gets divided based on each province or territory’s income share.

Benefits Linked to T1 Filing

Your T1 general tax return gives you access to valuable government benefits that can affect your financial well-being by a lot. Your annual return does more than just meet your tax obligations – it works as an automatic application for several benefit programs.

Canada Child Benefit (CCB)

The CCB gives tax-free monthly payments to families with children under 18. Eligible families can receive up to CAD 10,850.10 annually (CAD 904.17 monthly) per child under 6 years, and up to CAD 9,154.38 annually (CAD 762.86 monthly) for children aged 6-17 in the 2024-2025 benefit year. These amounts start going down when your adjusted family net income goes above CAD 50,860.43.

You must be the primary caregiver of a child under 18, a Canadian resident for tax purposes, and meet citizenship requirements to qualify. Your T1 return filing each year will give you continuous benefit payments—even without any income to report.

GST/HST Credit

Low and modest-income Canadians receive this quarterly tax-free payment to help with consumption taxes. The maximum annual amounts from July 2024 to June 2025 are CAD 723.15 for singles, CAD 947.48 for couples, and CAD 249.41 for each child under 19.

You need to be at least 19 years old and a Canadian resident during payment periods to qualify. Parents and those with spouses have some exceptions. The payments usually arrive on the 5th of July, October, January, and April.

Climate Action Incentive

The government has renamed this program to Canada Carbon Rebate (CCR) to help offset federal pollution pricing costs. The government announced the end of the federal fuel charge on March 15, 2025, and will issue the final payment starting April 22, 2025.

The CCR has a supplement for people living in small and rural communities, which went up to 20% in April 2024. You can claim this supplement by checking the right box on page 2 of your T1 return.

Disability Tax Credit and related benefits

People with severe, prolonged impairments in physical or mental functions can reduce their income tax with the Disability Tax Credit (DTC). You need to apply separately using Form T2201, unlike the benefits mentioned above.

DTC approval opens doors to extra benefits like the Child Disability Benefit, which offers up to CAD 4,628.74 annually (CAD 385.72 monthly) per child who qualifies for the DTC.

Filing Methods

You have several options to submit your T1 general return based on your comfort level with tax matters. Each method gives you different benefits in speed, help, and processing time.

Online (NETFILE-certified software)

The CRA’s NETFILE service is the quickest way to get your refund – you’ll typically receive it within two weeks instead of eight weeks for paper returns. The service starts from February 24, 2025, at 6:00 a.m. (Eastern time) until January 30, 2026. This method lets you file tax returns from 2017 through 2024.

NETFILE requires CRA-certified tax software to prepare your return. Some software packages are free if you have a simple return or low income. These packages have features like Auto-fill my return that imports information directly from CRA and checks for errors.

Note that NETFILE allows 20 returns per computer or online account for each tax year. Starting in 2024, you’ll need your eight-character Access code from your previous year’s Notice of Assessment to file.

Paper filing

Paper filing still plays a vital role in specific situations – we used it mainly for rejected electronic returns or by choice (tax preparers can submit up to 10 returns this way without penalty).

The process involves printing and mailing the T1 Condensed with your required slips and receipts. Paper filing takes about eight weeks to process if submitted on time. The T1 Condensed is a shorter version that might have barcodes to help with CRA’s data entry.

Filing through a tax professional

Tax professionals use EFILE to submit returns electronically. EFILE services run from February 24, 2025, to January 30, 2026 for tax years 2017-2024.

Professional preparers do more than just file your return. They identify all possible deductions and credits and protect you during CRA reviews. In fact, many firms provide audit protection services and handle CRA correspondence for you.

File with BOMCAS Canada

Tax regulations can be complex, so many first-time filers seek professional help. Tax experts manage everything from organizing documents to maximizing refunds through available deductions and credits. Professional tax preparation will give a stress-free experience and ensure your T1 general return meets all CRA requirements.

CRA My Account and Online Services

The CRA My Account portal has transformed T1 general tax filing in the digital world. This secure online hub lets you manage your tax affairs without mailing documents or waiting on hold.

Setting up and using CRA My Account

Your Social Insurance Number, date of birth, and information from your most recent tax return are needed to register for My Account. You can register through these three methods:

• CRA user ID and password
• Sign-In Partner (using your online banking credentials)
• Provincial partner (BC Services Card or Alberta.ca Account)

The document verification service offers immediate access to verify your identity. You could also request a CRA security code by mail that takes about 10 business days to arrive. Multi-factor authentication becomes mandatory after registration. You’ll need to pick between an authenticator app, phone verification, or a passcode grid to enhance security.

Accessing notices of assessment

My Account gives you instant access to view and print your Notice of Assessment (NOA) online. You can request your NOA right after filing through EFILE or NETFILE certified tax software during tax season.

The CRA’s phone line at 1-800-959-8281 remains available for people without internet access. You’ll need to verify your identity with personal details including your SIN and information from a previous assessment. The CRA website displays NOAs from the current and previous three years only.

Tracking refunds and benefit payments

My Account’s Progress Tracker service provides up-to-the-minute data analysis on your T1 tax returns, adjustment requests, and benefit applications. You can see where your submission stands – from “Received” to “In progress” to “Completed” – along with target completion dates based on CRA service standards.

Files currently in progress or completed within the past 30 days appear on the tracker. My Account offers the quickest way to check your tax refund status.

Common Mistakes to Avoid

Tax filing mistakes on your T1 general return can lead to major hassles with the CRA down the road. Let’s get into the most common errors new filers make and how you can avoid them.

Missing income

Not reporting all your income sources is a serious error that can trigger penalties. People often forget to include money from part-time work, foreign investments, or freelance gigs. Your 2024 return will face penalties of 10% of the unreported amount if you fail to report CAD 696.68 or more (and had similar omissions in 2021-2023). Multiple instances of undisclosed income can result in harsher penalties—up to 50% of the understated tax plus interest charges. Deliberate omissions could lead to criminal charges with penalties between 50-200% of tax evaded and up to five years imprisonment.

Incorrect banking information

Direct deposit will give a quick turnaround on refunds and benefits, usually within two weeks. Double-checking your banking details prevents payment holdups. A word of caution: don’t close your old account until your first payment lands in the new one. The CRA helpline (1-800-959-8281) should be your first call if payment hasn’t arrived within 10 business days of the expected date.

Overlooking deductions and credits

Canadian taxpayers leave money on the table by missing eligible deductions. Moving expenses (for relocations over 40km for work/school), medical expenses beyond routine care, and student loan interest often slip through the cracks. The Canada Workers Benefit goes unclaimed by roughly 240,000 eligible Canadians each year, leaving CAD 243.84 million unclaimed. Good record-keeping throughout the year helps catch these opportunities.

Filing late

Late filing triggers automatic penalties—5% of your balance owing plus 1% for each late month (maximum 12 months). Repeat offenders face steeper penalties—10% of balance owing plus 2% monthly (maximum 20 months). File on time even if you can’t pay to dodge the late-filing penalty. The CRA might waive penalties in situations beyond your control.

Audits and Reviews

The Canada Revenue Agency might select your T1 general for review despite your careful preparation. You can avoid stress and potential penalties by knowing how reviews work and the right way to respond.

What triggers a CRA review?

The CRA reviews about three million income tax returns annually to check compliance with tax laws. Several factors could flag your return:

• Differences between your return and third-party information (like T4 slips)
• Your deductions or credits, especially unusual or large amounts
• Your compliance history, particularly if you have past errors or adjustments
• Random selection as part of regular monitoring
• Big changes in your income or expenses compared to previous years

New tax filers should know that self-employed people and gig economy workers get extra scrutiny because they might misreport their income.

How to respond to a CRA request

A review letter from CRA doesn’t mean an audit – it’s just routine verification. You’ll typically have 30 days to respond. Here’s how to make the process smooth:

• Read what information they need in the letter
• Sort your documents by category and date
• Create a summary page that matches your claimed amounts
• Need help? Call the number on your letter for clarity or more time
• Send only requested documents – don’t overdo it

The CRA will reassess based only on their existing information if you don’t respond.

Keeping records and documentation

Canadian tax law says you must keep all supporting tax documents for six years after the end of each tax year. Your records should have:

• Income slips and receipts for your deductions
• Bank statements and canceled cheques that prove payments
• Your filed returns and notices of assessment

Keep property-related records until you sell the property and pay related taxes. Good record keeping will help when the CRA wants to verify your T1 general claims.

Special Situations

Tax filing can be complex for people with unique situations. Let’s get into how your life circumstances might affect your tax obligations.

Students and recent graduates

Students should file their tax returns even with little income because this helps them access important benefits. You can claim non-refundable tax credits for tuition and deduct interest paid on student loans. The tax rules treat international students as residents if they live in Canada for 183+ days in a calendar year, so they need to file taxes.

Filing your returns during school years creates RRSP contribution room you can use later. You might also receive tax-free GST/HST credit payments. Most scholarships and bursaries don’t get taxed for full-time students. Part-time students receive limited exemptions that cover tuition and program materials.

Seniors and retirees

People aged 65 and older can claim extra credits. The Age Amount stands out at CAD 12,579.26 in 2025. This amount starts to decrease once net income goes above CAD 63,428.54. Couples can split pension income to lower their tax burden and reduce Old Age Security clawbacks.

Your OAS benefits decrease by 15% if your net income exceeds CAD 130,215.08 in 2025. Each province offers specific credits. Ontario residents can claim the Seniors’ Public Transit Tax Credit worth up to CAD 627.01 per year.

Self-employed individuals

Self-employed people have until June 15, 2025, to file their returns. They still need to pay any taxes owed by April 30, 2025. Form T2125 helps report business income and claim valid expenses that generate income.

The CPP contributions work differently for self-employed people. They pay double the regular rate (11.9% in 2024) up to CAD 10,777.64. You can deduct expenses like office supplies, advertising, vehicle costs, bank fees, and home office expenses.

New immigrants and emigrants

New permanent residents become tax residents right after arrival. Their first tax return comes due the following year. They must report worldwide income earned after becoming Canadian residents. Tax treaties usually prevent paying taxes twice on the same income.

People leaving Canada permanently must deal with a deemed disposition of assets. This might trigger capital gains tax. They lose access to GST/HST credits and the Canada Child Benefit after departure. Canadian-source income received after leaving usually faces 25% withholding tax. Tax treaties might reduce this rate.

BOMCAS Canada – Your Trusted Partner for T1 Returns

Tax season becomes stress-free with professional help from a trusted accounting firm. BOMCAS Canada is your dedicated partner for T1 general tax returns. We turn tax complexity into clarity.

About BOMCAS Canada: Who we are

BOMCAS Canada is a prominent accounting and tax services provider with offices in Edmonton and Sherwood Park, Alberta. Our team delivers detailed tax solutions to individuals and businesses in Canada. We ensure compliance with changing tax regulations. We serve clients throughout Canada and provide both local and virtual accounting services if you can’t visit in person.

Why choose BOMCAS for your T1 return?

Your T1 general filing with BOMCAS comes with several key advantages:

• Expert guidance through Canadian tax system’s complexities
• Maximum available tax credits and deductions
• Audit protection and CRA representation if needed
• Error-free preparation that minimizes compliance risks

Personalized service

Each taxpayer’s situation is unique at BOMCAS. We build personal connections with our clients to understand their specific needs. Our team analyzes your financial situation to find qualifying tax breaks. New filers benefit greatly from our step-by-step guidance.

Experienced tax professionals

Our qualified team stays current with CRA’s latest amendments. This knowledge helps us provide proactive tax planning and error-free preparation. This expertise proves valuable especially when you have complex situations that need specialized knowledge.

Competitive pricing

BOMCAS charges competitive rates for accounting and tax specialist services. We offer budget-friendly solutions for T1 preparation across Canada. Our pricing matches your specific tax situation. You pay only for services you need. We also offer free consultations to help you understand costs upfront.

Full-service support (in-person and virtual)

We provide both in-person consultations at our Edmonton and Sherwood Park locations and detailed online tax preparation services. Clients throughout Canada can access our expertise whatever their location. Our support continues throughout the year, not just during tax season.

Client testimonials and success stories

Our clients praise our efficiency and thoroughness consistently. A client shared: “BOMCAS did my personal tax, the service was amazing, also the price was affordable for the excellent delivery.” Another client said: “They deliver exactly what they promise… I will always be a returning customer.”

How to get started with BOMCAS

Starting with us is simple – just call for your free consultation. We begin with a meeting to understand your specific tax situation and needs. Then we provide a document checklist, analyze your information, prepare your return, review it with you, and file electronically with the CRA.

Conclusion

Filing Canadian taxes can feel daunting, especially if you’re doing it for the first time. In spite of that, you need to understand the T1 General form and its requirements as they are vital aspects of your financial responsibilities as a Canadian taxpayer. This piece covers everything from simple filing requirements to specialized situations and gives an explanation about the tax filing process.

Meeting deadlines is the most important part of tax compliance. Note that most Canadians must file by April 30, 2025. Self-employed individuals have until June 15, 2025, but everyone must pay any balance owing by April 30. Late filing triggers automatic penalties that become more severe for repeat offenders.

Your tax return does more than fulfill a financial obligation. Accurate and timely filing gives you access to valuable benefits like the Canada Child Benefit, GST/HST Credit, and Canada Carbon Rebate. These programs are a great way to get financial support for eligible Canadians. This makes your annual filing worthwhile even when you don’t owe taxes.

New filers should watch out for common mistakes. Unreported income, missed deductions, and wrong banking information can result in penalties or delayed refunds. It also helps to keep complete records for at least six years to protect yourself during potential CRA reviews.

Tax software works well for simple returns, but complex situations need professional help. Contact BOMCAS Canada today for all your tax needs to ensure maximum refunds, accurate filing, and peace of mind throughout the process. Their team of experienced professionals will direct you through your unique tax situation’s complexities and help you avoid getting pricey mistakes.

The T1 General form might look scary at first, but proper preparation and the right support will help you meet your tax obligations confidently while maximizing your eligible benefits. Begin collecting your documents early, know your filing requirements, and think about whether professional help would suit your specific situation.

FAQs

Q1. When does the NETFILE service open for filing 2024 tax returns? The CRA’s NETFILE service for electronically filing 2024 tax returns opens on February 24, 2025 at 6:00 a.m. Eastern time.

Q2. What is the filing deadline for the 2024 tax year? The standard deadline for most individuals is April 30, 2025. Self-employed individuals and their spouses have until June 15, 2025 to file, but any taxes owing are still due by April 30, 2025.

Q3. What are the penalties for filing taxes late? The standard late-filing penalty is 5% of your balance owing, plus an additional 1% for each full month your return is late, up to a maximum of 12 months. Penalties increase for repeat late filers.

Q4. How long should I keep my tax records and supporting documents? Canadian tax law requires you to retain all supporting tax documents for six years from the end of the tax year to which they relate.

Q5. Can first-time filers use NETFILE to submit their tax returns? Yes, first-time filers can use NETFILE to submit their initial T1 personal income tax returns for tax years 2017 through 2024, as long as they use CRA-certified tax software.