8 Simple Steps to Prepare for the 2021 Tax Season

8 Simple Steps to Prepare for the 2021 Tax Season

Your Bottom Line   |  

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Find out what's new for the 2021 tax season and your filing and payment due dates. Begin by gathering your documents to report income and claim deductions, and choose how you want to file and send your completed tax return to the CRA. You can find our 2021 Tax Checklist at the end of this email, free to download!

Steps to get ready for 2021 taxes

Find out what's new

How COVID-19 benefits impact your taxes

Reporting COVID-19 benefit amounts on your tax return, tax slip issues and payments options

What's new for 2021 taxes

Changes to benefits, credits, and expenses for individuals and families, and updates to the 2021 income tax package

Be aware of key dates for 2021 taxes

Filing and payment due dates for taxes, contributions, installment payments, and any amounts you may owe

Filing dates for 2021 taxes

  • April 30, 2022 (May 2, 2022 since April 30 is a Saturday): Deadline to file your taxes
  • June 15, 2022: Deadline to file your taxes if you or your spouse or common-law partner are self-employed

Payment date for 2021 taxes

  • April 30, 2022 (May 2, 2022 since April 30 is a Saturday): Deadline to pay your taxes

Know what to report and claim

Report your income

What to report as income, including COVID-19 benefits, self-employment income, foreign investment income, income from assets, or other earnings

Claim deductions, credits, and expenses

Find and claim tax deductions, credits, paid tax instalments and expenses such as home office expenses for employees or paid tax instalments

If you are a small business owner or self-employed

Get free tax help to better understand your tax obligations by booking a call with us to discuss

Get your tax slips

Understand your tax slips like the T4 and T4A, when you will receive them, and how to get copies

Keep your CRA information up-to-date

Update your personal information

Tell us or CRA about changes to your address or marital status. An incorrect address may result in not receiving your refund, if eligible

Set up or change direct deposit information

To ensure you get your payments and refunds faster, you can sign up for direct deposit or change your account information through the CRA or your financial institution

Try CRA's easy-to-use digital services

If you registered for My Account or the MyCRA mobile web app, you can change your address, phone number, or other personal information that the CRA has on file, as well as enroll for direct deposit

Ways to do your taxes

File your taxes online or by paper, or find other options such as having someone else complete them for you:

  • NETFILE and EFILE Certified tax software (electronic filing)
  • Authorize a representative (Like us!)
  • Community volunteer tax clinic
  • Discounter (tax preparer)
  • File my Return - Automated phone line (by invitation only)
  • Tax filing assistance from a CRA agent

Send the CRA your completed tax return

File your tax return online or mail CRA your completed tax return to your tax center

Make a payment or wait for your refund

Have a balance owing

Pay the taxes you owed, options if you cannot pay, or arrange to pay over time

Getting a refund

You will get a refund if you paid more taxes than needed

After you file your tax return

Get your notice of assessment, find out the status of your refund, or make a change to your tax return

To formally dispute your notice of assessment or reassessment, credit or benefit decision, you may want to file a notice of objection.

2021 Tax Checklist

We've created our 2021 Tax Checklist for you to ensure that your tax filing process is as simple as possible. Check out the NEW tax changes on page 2 so you're not missing a penny of deductions or credits. If you're self-employed, make sure to check out pages 3 and 4 to find some tips on what you might be missing. 


  • Read it carefully to maximize your deductions
  • Let us help make the process as simple as possible
  • Contact us if you have any questions

Contact Our Professional Accountants at Your Bottom Line for Personal and Corporate Tax, Bookkeeping, Payroll, Virtual CFO services, QuickBooks Setup & Trainings, HST filing services and much more across Oshawa, Whitby, Ajax, Pickering, Bowmanville, Newcastle, Port Perry, Cobourg and more.