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ARTICLE · 19 JANUARY 2022

Tax Tips For Young Adults

Crowe
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If you are 18 years of age or older it is your responsibility to file a personal tax return. Crowe MacKay's tax team reviews what you need to be aware of when filing your T1 tax return and how COVID-19 supports that you received ...

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Kaiden McIntyre
Kaiden McIntyre
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If you are 18 years of age or older it is your responsibility to file a personal tax return. Crowe MacKay's tax team reviews what you need to be aware of when filing your T1 tax return and how COVID-19 supports that you received may impact your 2021 taxes.

Tax Filing Deadline

As of the date of this article, the CRA has not extended the filing deadline for personal tax returns. Ensure you file your T1 by April 30, 2022, to avoid any late filing penalties and interest.

Even if you earned little or no income in the year, you should consider filing your T1 tax return. Doing so will ensure you are eligible for various credits, such as the quarterly GST/HST credit and related provincial/territorial programs.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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