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Are you missing out on these tax benefit payments?

Are you missing out on these tax benefit payments?

Tuesday, March 17, 2020 @ 8:15 AM
Posted By: Joseph Giovinazzo

Filing your taxes isn’t fun, but the upside is it’s the only way to receive benefits and credits that can help you pay for things like groceries, your kids’ activities or even a dream vacation.

You only need to apply for benefits and credits once, but you do need to do your taxes on time every year to continue getting your payments without interruption. You also need to keep your personal information — like your address and marital status — up to date. Make sure to keep all the information you needed to do your taxes for at least six years, in case the CRA asks for it.

Here are some tips to help make sure you’re getting the benefits and credits you’re entitled to: 

1. Do your taxes. Even if you don’t have any income to report for 2019 or your income is tax exempt, you can still claim helpful tax credits and get benefit payments. You just have to do your taxes by April 30, 2020.  

2. If you have children under 18 in your care, you could get Canada child benefit payments every month. You need to apply (if you haven’t already); then, make sure you do your taxes on time every year so you can continue to receive it without interruption. You can also get past payments for up to 10 years prior.

3. If you have a disability, you may be eligible for the disability tax credit. And, if your child is eligible for the disability tax credit, you could get child disability benefit payments.

4. If you work but earn a modest income, you could get the Canada workers benefit (formerly the working income tax benefit) every three months. You can also apply for advance payments of this benefit.

5. Sign up for direct deposit to get your benefit payments deposited directly into your account. That way, you’ll still get your payments no matter where you are.

6. If you stopped getting benefits and credits, call the CRA as soon as possible and they’ll help you figure out why your payments were stopped and tell you what you need to do to keep getting them.

7. If you need help doing your taxes, a community volunteer may be able to do your taxes for free. If you work for a community organization and want to help your clients with taxes and benefits, you can request a free visit from the CRA. To find a tax clinic near you or request a visit, go to canada.ca/taxes-help. (NC)

Category: Economics

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