TAXES & INCOME

Be sure to update the CRA if any of the following has changed:

Your marital status

The number of children in the household

Your banking & direct deposit information

Your home address

Provides in-person access to a wide range of federal government services and benefits. Many services are also offered online, by phone, or by mail. Provides computers, printers, and internet to access all Government of Canada websites, including Job Bank. Services include topics related to employment, financial assistance, and personal identification, such as Canada Pension Plan (CPP), Old Age Security (OAS), Employment Insurance (EI), Social Insurance Numbers (SIN), birth certificates, Records of Employment (ROE), tax credits, and direct deposit. Also offers Veterans Affairs Canada (VAC) services for veterans and their families. As a Passport Receiving Agent, accepts standard passport applications and sends to the Passport Program for processing. Wheelchair accessible. Service offered in English and French, with telephone interpretation for many other languages. Hours are 8:30 am to 4 pm Monday to Friday.

Service Canada

520 Seymour St,

Kamloops, BC V2C 2G9

1-800-O-CANADA (1-800-622-6232)

Monday-Friday 8:30am-4:30pm

Preparing to File Your Taxes

 

If you were a B.C. resident on December 31 or earned income in B.C. you may need to file an income tax return for the tax year. Taxes are due to be filed on or before April 30 annually. For those who are self-employed, or who have a spouse or common-law partner who is self-employed, the deadline to file your tax return is June 15, 2020

Be aware that you may be facing additional late charges if you file your taxes, or paid your due taxes after April 30th. In a situation where you may not be able to afford paying your tax dues, contact the CRA to discuss payment plan options.

Get everything you need to calculate your income and support any credits, deductions and expenses you’ll claim. You will need to report income from all income sources, both inside and outside Canada - even if you were paid in cash.

If you were employed or had an investment income in 2019, your employer or financial institution will send you statements commonly referred to as ‘’slips’’. Here are some common examples:

  • T3 Statement of Trust Income Allocation and Designations

  • T4 Statement of Remuneration Paid

  • T5 Statement of Investment Income

  • T2022A (University Tax Form)

It is never too late to ensure you are on the right track with your taxes! Check out this 2019 Year End Tax Tips created for individuals such as elders, student, families & more.

Given then we are now three months into 2020, here is an article of changes in our taxes that you might want to know about.

If you choose to file your taxes at home, this is a website of government approved tax software's - some being free, some having additional or starter charges.

SimpleTax-logo1.png

Free for students

with code "CFS1981"

Filing Your Taxes Online using Certified Tax Software

When it comes to filing your taxes, I learned early on that it is incredibly beneficial to have a knowledgeable person helping you with filing your taxes. Fastfile Taxes & Mandy's Accounting Services are the most highly rated local services in Kamloops. Alternatively, H&R Block locations appear across the city when tax season arrives.

Hiring an Accountant & Supporting Local

Through research, it appears that this is one of the more popular local bookkeepers for tax season. They offer many services such as income tax preparation, reception, budgeting, letters, resumes and bookkeeping.

T&M Bookkeeping

2623 Young Place
BC, V2B 8A4

250-572-6603

Monday-Friday 9am-4pm

Provincial Tax Exemptions

At times, you may find yourself in a situation where you can be excempt from provincial taxes. When buying items such as food, bicycles, children's clothing and literature you will automatically have your PST removed from your bill. Be mindful, however, because if you are buying adult-sized clothing for a child under 15 years of age, you will be required to fill of out the appropriate form in order for this to be in effect. You may leave the form with the store you purchased the clothing from.

While on indigenous reserve land, those with indigenous status cards are entitled to being tax exempt. 

School supplies are tax exempt however this requires you to prompt your cashier & fill out a form.

Protective & safety equipment is tax exempt as well, with the appropriate form being found here.

Canada Child Benefit

Using this booklet, you can find out if you are eligible for this program.

GST Refunds

April 3, 2020

You may be eligible to receive the GST/HST credit if you meet any of the following criteria:

  • You are 19 years of age or older

  • You have (or had) a spouse or common-law partner

  • You are (or were) a parent and live (or lived) with your child

You must be a Canadian resident for income tax purposes and have a social insurance number (SIN) because the government uses your income tax return to determine whether or not you are eligible.

July 3, 2020
October 3, 2020
January 3, 2021

2020 Canada Personal Tax Credits Return, TD1

There is a national form, and a provincial form for you to fill out. You will be given this at the start of any employment, and should continue to be offered it on an annual basis. It is important that you do your best to fill this out annually. 

This Youtube video is a great simple explanation of how to fill it out properly with the appropriate numbers. This resource updates with a new video every tax year.

Registering for Direct Deposit

Begin by filling out your personal information that matches that of your account at the bank. You can personally request a teller to make one of these up for you, but I have created some detailed instructions for you if you are unable to access an in-person bank at this time.

When asking for branch information, this means that they want to know the primary bank you work with, or the bank you originally opened the account with. If you have moved recently, you should likely seek the information of the branch you opened your bank account with. Via google you should be able to identify the branch address. The Branch Identification Number is a 5 digit number that identifies your home branch, you can usually find this using Google as well. There is also a number identification for each Banking institution, the Institution Number is a 3 digit number easily found on Google. The Bank Account Number can normally be found under accounts in your online banking app. This is a 7-digit number that’s used to refer to one of your unique bank accounts.

ABOUT ME

This is a Student Directed Project, designed by a fourth year Bachelor of Social Work student at Thompson Rivers University.

The goal is for this page to provide a sense of community and support for individuals who experience life with a lower-income. Please browse the thoughtfully curated pages to provide accurate and informational resources for you; whoever you are.

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