Those of you who wonder if you should file personal tax return, CRA has prepared the following:
You must file a return for 2019 if:
• You have to pay tax for 2019.
• CRA has sent you a request to file a return.
• You and your spouse or common-law partner elected to split pension income for 2019. You received working income tax benefit advance payments in 2019.
• You disposed of capital property in 2019 (for example, if you sold real estate, your principal residence, or shares) or you realized a taxable capital gain (for example, if a mutual fund or trust attributed income to you, or you are reporting a capital gains reserve you claimed on your 2018 return).
• You have to repay any of your old age security or employment insurance benefits. See line 235.
• You have not repaid all amounts withdrawn from your registered retirement savings plan (RRSP) under the Home Buyers’ Plan or the Lifelong Learning Plan
• You have to contribute to the Canada Pension Plan (CPP). This can apply if for 2019 the total of your net self-employment income and pensionable employment income is more than $3,500.
• You are paying employment insurance premiums on self-employment and other eligible earnings.
Even if none of these requirements apply, you should file a return if:
• You want to claim a refund.
• You want to claim the working income tax benefit for 2019.
• You want the goods and services tax/harmonized sales tax (GST/HST) credit (including any related provincial credits.
• You or your spouse or common-law partner want to begin or continue receiving Canada child benefit payments, including related provincial or territorial benefit payments.
• You have incurred a non-capital loss in 2019 that you want to be able to apply in other years.
• You want to carry forward or transfer the unused part of your tuition, education, and textbook amounts.
• You want to report income for which you could contribute to an RRSP and/or a pooled registered pension plan (PRPP) to keep your RRSP/PRPP deduction limit for future years current.
• You want to carry forward the unused investment tax credit on expenditures you incurred during the current year.
• You receive the guaranteed income supplement or allowance benefits under the old age security program. You can usually renew your benefit by filing your return by April 30. If you choose not to file a return, you will have to complete a renewal form. This form is available from Service Canada.
Although CRA did not enlisted, financial institutions ask for your Notice of Assessments when you apply for mortgage. Immigration officials request them when you need to sponsor someone or you are sending an invitation letter to family and friends.
