In a good way, I was reminded the other day that tax-filing season is just about here.
After logging into one of my dozen or so online accounts, I noticed a message saying that tax receipts for the 2024 tax year will be ready soon. Banks and financial companies used to handle tax slips in a way that sounded to their customers like, ‘you’ll get them when you get them.’ Today, they’re increasingly offering guidance on when slips can be expected.
Check your bank or broker’s website for the latest on your slips – many now have calendars showing the availability dates for all types of tax documents. Some also send e-mails to alert clients that these documents are now available.
If you rely on the mail for your tax slips, consider switching to online delivery. You can print your documents as required and store copies on your computer.
Here are some key tax-filing dates provided by H&R Block:
- Monday, Feb. 24: The Canada Revenue Agency’s Netfile service opens, which means tax returns can be filed online.
- Friday, Feb. 28: The final day for employers to issue T4s and T4As.
- Monday, March 3: The deadline to contribute to a registered retirement savings plan for the 2024 tax year.
- Wednesday, April 30: The tax filing deadline for most people. If you don’t meet the deadline, you could start incurring penalties if you owe money to CRA.
- Monday, June 16: The deadline for self-employed people to file their taxes. Any balance owing is due April 30.
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Rob’s personal finance reading list
Tariffs and the housing marketA Q&A with a mortgage broker on how a trade war with the United States might affect the housing market. Potentially positive news here for young buyers who feel priced out of housing. Now, for a look at what’s ahead for
mortgage rates, and at the chilly state of the
Toronto housing market.
Canada vs the U.S. – an 11-point comparisonIn his daily brief to clients, a bank economist looks at how Canada compares with the U.S. in income and other non-financial measures. On income, the difference may not be as much you think.
Rome, not TexasA retired couple on why they ditched their much-anticipated trip to the United States this winter and decided to visit Europe. Now for a broader look at the "
anywhere but the U.S." travel trend.
Save time on laundry dayA household productivity tip – how to fold fitted sheets properly. Save those multiple do-overs.
From our Readers
Ask Rob
Question
With Bank of Canada interest rates down 2 percentage points from last spring, why are mortgage rates offered by the big banks and others not down more?
Rob says
Variable-rate mortgage costs have fallen by the same 2 percentage points as the Bank of Canada’s overnight rate, but fixed-rate mortgages have been stickier. They take their cue more from interest rates in the bond market than the Bank of Canada. Bond yields are influenced by the outlook for economic growth and inflation, which has been unsettled lately by stubborn inflation and uncertainty over home U.S. economic policy will play out under Donald Trump.
Do you have a question for me? Send it my way. Sorry I can’t answer every one personally. Questions and answers are edited for length and clarity.
Tools and guides
A calculator that shows how much sales tax adds to your purchase in all provinces and territories.
More PF from The Globe
Consider these seven useful things you can do with
your RRSP
Canadian
rents, already dropping from peaks, could drop further from Trump’s tariffs
