For a number of years, the CRA has permitted the EFILE community to submit returns in advance of our official opening in February providing their software has been certified.  For the 2010 program (2009  tax year returns) the EOL+ (batch) filing system will accept transmissions into the stockpile inventory on January 25th, 2010 at 8:30 a.m. (eastern (Ottawa) time). These returns will be held until we open for processing on February 15th, 2010.

- EFILE HELP DESK 1/18/2010 4:38AM

For those of you who like to file early, please note that CRA will not be processing T1's filed until February 15th.  If you need your refund before the end of February, it is possible but it takes (on average) 2 weeks for a refund to appear in your mailbox after Efiling...

If you are getting a sizeable refund, as the government isn't giving you money and is merely returning your money, you may want to request a decrease in the tax deducted at source (if possible).

The Conservatives are proposing changes to the Employment Insurance (EI) system that may help the growing ranks of self-employed Canadians by allowing them to pay into EI to be eligible for maternity and parental benefits.

- Please note "extend EI special benefits including maternity, parental, sickness and compassionate care benefits" means those are the only benefits the new program will provide.

Self-employed individuals will have the option of joining the EI program anytime after Jan. 1, 2010 -- but there is nothing forcing them into the program, ever.

If you opts to join, your premiums will be the same rate as salaried employees, currently 1.73% of net income up to $42,300, or a maximum of about $730 a year. 

Although you won't have to pay the employer's premium, you have to pay employee premiums for at least a year before you will be eligible to collect special benefits for maternity, parental and sick leave equal to 55% of normal earnings up to about $450 a week.

Our Tax Dollars At Work...

The amount being reviewed is $1.

This isn't even $1 in tax savings, it is $1 in tax deductions so really is about 22 cents.

Two pages of information requested to support the claim of $1.

Postage, paper, ink, computer time and payroll costs (charged to Canadian taxpayers) to fund CRA trying to verify the taxpayer's right to claim the deduction of $1.

CRA's NEW SERVICE TO PAY TAXES ONLINE

Individuals and businesses can now pay their taxes online via a new online service, My payment, at the Canada Revenue Agency (CRA). This service, available starting October 5, 2009, allows taxpayers to complete transactions containing several payments for a combination of both individual and business accounts including among others, GST, deductions at source, individual income tax, excise tax and corporations income tax. Payments can be made from a personal or a corporate bank account at a participating financial institution. For more information, read the CRA’s news release.