Filing Taxes And Getting Refund Is Easy
It isn’t until the middle of February that the Canada Revenue Agency (CRA) starts processing the Canadian income tax returns. Irrespective of how much early you file the income tax returns even if it is before the Canada tax deadline, you won’t be able to get the details regarding the status of the income tax refund till the middle of March.
You need to wait until four weeks after filing the tax return before you check the status of the income tax refund. Suppose you are filing the returns after April 15, then you have to wait until six weeks just before checking the status of your return.
Processing Time Involved For Tax Refunds
Here the amount of time it takes for the CRA to process your income tax return and file taxes, as well as the refund, would be based on when and how you are filing your return.
What Are The Processing Time Required For Paper Returns?
â Commonly, the paper returns will take about four to six weeks for processing.
â Now for paper tax returns that are filed before the date of April 15, just wait for about four weeks before checking the refund.
â In case of paper tax returns that are filed after or on April 15, you need to wait for six weeks just before you check on the refund.
Processing Times Involved For Electronic Returns
Regarding the electronic returns (EFILE or NETFILE), it might take about eight business days for processing. But you need to wait until or at least four weeks just before checking out the refund.
File Tax Return Selected For Review
Certain income tax returns, which can be in the form of electronic and paper will be selected for a detailed tax return review. This is by the CRA just before they get assessed and even afterward. Sometimes the CRA might ask you to submit certain documents for identifying and clarifying the common areas of misunderstanding, especially in the Canadian tax system. Suppose your tax return is selected for a review, then it can immediately slow the assessment and even the refunds too.
Details Required For Checking Tax Refund As Well As Ontario Trillium Benefit
For checking the status of the income tax refund, you need to provide the below-given details –
1) The month and year of your birth
2) The social insurance number
3) Amount entered as the total income on line 150 of the income tax return of the previous year
Checking Tax Refund Online
There are various online tools like income tax calculator Ontario that can be used for checking the status of the income tax returns as well as refund. Also, by using the My Account tax service, you can easily get the required details. All you have to do is register using your current online banking details. Even you can create the account using the CRA user ID as well as password.
The security code will be mailed to you within 6 to 10 days, however, you won’t be needing it just to access certain limited service options.
Keywords: Canada Tax Deadline, Ontario Trillium Benefit, Income Tax Calculator Ontario, file taxes
For More:- File Taxes Online Canada
