![]() At this point, taxpayers have two main options: using software that is loaded onto the computer's hard drive or using interactive web-based programs.Ĭanadians can choose from web-based tax software or downloadable and CD-ROM-based programs that can be used to file electronically or to simply fill out returns that will be mailed in by post. ![]() This list is updated through March as more programs satisfy the certification requrements. The CRA has a list of certified programs on its website. Once you have the access code, all you need now is a "certified" tax program. (You'll need last year's tax return handy.) Unfortunately, if you've never filed a tax return before, you won't be able to Netfile. You can find that on the label sheet of your T1 personal income tax return package, or you can go online and enter some key data. You'll need an access code to Netfile your taxes. Most people who Netfile likely still print a copy of their returns for their own records.) How to Netfile The CRA suggests these electronic tools are more environmentally friendly because they use less paper. The much-less popular Telefile option lets those with relatively simple returns file by phone using an interactive program. (EFile is the internet-based filing system used by professionals who prepare tax returns for a living). This is the web-based service that allows taxpayers to be their own accountants and file their returns themselves over the internet. Number of returns Netfiled in 1999 (the first year of availability): 530 More than 60 per cent of all tax returns are now delivered electronically to the tax department - a percentage that has seen steady growth every year since Efiling and Netfiling began. But these days, it's a lot easier (fun would be a stretch), thanks to the same kind of technology you're using to read this - the computer. After all, few people really enjoy filing their taxes. The annual tax filing ritual will unite more than 26 million of us in the mad scramble to confess all things financial by the deadline (which will actually be Monday, May 2 this year, because April 30 falls on a Saturday).Īsk Canadians to name their favourite way of filing their taxes, and you'll get a lot of strange looks. ((iStock))It's that time of year to give it up for the Canada Revenue Agency. About 18 per cent filed electronically through Canada Revenue Agency's Netfile system and about 40 per cent had a tax professional file electronically on their behalf. Scotia Smart Investor is a trade name of Scotia Securities Inc.described herein are annual rates.Only 40 per cent of Canadians who filed taxes last year sent in paper returns. ![]() is a limited partnership the general partner of which is wholly-owned by Scotiabank. and are available from Scotia Securities Inc. ScotiaFunds are managed by 1832 Asset Management L.P. is a mutual fund dealer and is a corporate entity, separate from, although wholly-owned by, The Bank of Nova Scotia ("Scotiabank"). The terms, including the Bonus Rate, may be changed, cancelled or extended at any time, in whole or in part, without notice. It is the SSAA account holder’s responsibility to determine his or her maximum allowable annual contributions in SSAAs held in registered plans.Īll other terms and conditions of the SSAA continue to apply, refer to for details, including calculation of interest. A SSAA is not in 'good standing' if it has a negative balance, or the account holder is in breach of the account agreement with Scotiabank. SSAAs must be open and in good standing in order to receive any interest calculated at the Bonus Rate. All interest rates described herein are annual rates. The bonus interest earned during the Bonus Rate Period will be calculated daily and paid monthly. The Bonus Rate will cease to apply as of September 1, 2023. In addition, New Deposits will continue to earn interest at the posted annual interest rate for the SSAA (click here for current rates). The “SSAA Daily Balance” means, with respect to any particular day, the closing balance in the eligible SSAA. SSAAs held within a RRSP, RRIF, LIF, Registered Locked-In RSP, RESP, RDSP or any other registered plan or non-registered account at Scotiabank are not eligible for this Bonus Rate.ĭuring the Bonus Rate Period, the Bonus Rate of 3.25% will be earned only on that portion of the SSAA Daily Balance that is greater than the SSAA Daily Balance as of (“New Deposits”). The bonus interest rate (The “Bonus Rate”) applies to New Deposits (defined below) made into an eligible Scotiabank Savings Accelerator Account (“SSAA”) between and Aug(the “Bonus Rate Period”) Eligible SSAAs include only those held within a Tax-Free Savings Account (TFSA) at either The Bank of Nova Scotia or Scotia Securities Inc.
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