Sharing Daily Discoveries About Personal Finance And Business Topics

Filing My Taxes Online With Netfile And QuickTax

financial literacy

My last post about the free Ufile tax filing for students got some people asking on what it is like to file your taxes online so I decided to make a post about it. There are quite a few different tax software products that you can use. I personally use Quicktax as that is actually the software that got me interested in filing my taxes online way back. First and foremost as well, you need a NetFile access code which you should have received from the Canada Revenue Agency which kind of looks like this:

Some people that I know had to phone in to get a code initially if they never gotten one before. They don’t even send me those traditional tax package forms anymore since this process saves paper and I have been doing this for years. You first enter in all of your general information such as your name and address.

If you are an employee, then you need to enter in details from your T4 form that you received from your employer.

Self employed people can also use this to report your income as well along with any business expenses that you have incurred during the year.

One good thing about programs like these too is that they offer basic tax advices as well to help you try and take advantage of as many things as possible to ultimately pay as little income tax as possible.

After you finish filling in all of your details, you then save your document and proceed to file your return on the Netfile website.

This is where your four digit access code comes into play as you will need to provide this in order to be able to use Netfile.

Once you do that, you need to attach your tax document which should be saved on your computer and simply submit it online.

That’s it as you are done and from my experience if you are receiving a refund the payment actually arrives fairly quickly within a week or less. So for anyone who is intimidated by this process, hopefully this shows how simple it can be as in my opinion it makes things a lot easier without the hassle of dealing with all those paper forms and calculating things yourself.

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