Filing Your Income Tax Returns
In order for the government to know how much RDSP Grant and Bond you will receive, you need to file your income taxes every year. If you have never filed income taxes or have missed a few years, you will need to file taxes for the past two years.
There are two ways to file income taxes:
1. File taxes on your own
- You will need the General Income Tax and Benefit Return for the year you are filing.
- You can get this package either online here by telephone (1-800-959-2221) or by going to any postal outlet or Service Canada office.
- Ask for a tax package for the province you lived in last December.
- Once you get the package, fill out the forms.
- If you have worked in the past year, you will need a T4 form from your employer.
- Once you have completed the forms, you will need to either: a) mail it in, b) telephone it in with telefile (not for first time tax filers).
- Canada Revenue Agency (CRA) will review your file and may ask you some follow-up questions. Keep any letter you receive from CRA in a special place for next year.
2. Get a professional to assist you
Taxes can be quite complicated, but doing it right is really important and can also result in getting more money back! If you have a complicated tax situation (you own property, you receive money from several different sources, you have significant medical expenses) or if you feel overwhelmed by the forms, you might want to get professional help. There are several types of professionals that can assist:
- If you need help but cannot pay for it, the Community Volunteer Income Tax Program will help people who have low incomes for free. Call 1-800-959-8281 for the location closest to you
- You can go to a walk-in tax clinic. The staff are not usually accountants but the service can be relatively cheap.
- You can go to a professional accountant who understands disability taxes. One company we recommend is Ability Tax Group.
You must file taxes every year in order to continue to receive the Grant and Bond