Monday, May 14, 2012

Tax Tips: Addressing myths about CRA online filing

Did you know?

Many of the ideas floating around about filing online are actually not true.

There are so many great reasons to file your income tax and benefit return over the Internet–more than half of the returns that come in to the Canada Revenue Agency (CRA) arrive electronically. Canadians know how easy, simple, and fast it is to file online, plus they get their refunds faster.

Why are some returns still coming in on paper? Here's a common myth:

"If I file online, I am more likely to be audited."

Not true. When you file online, the CRA may request a copy of one or more of your receipts to support the claims on your return. This is a routine verification, not an audit. When the CRA flags a file for audit, the criteria are broad, complex, and not based on filing method.

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