01 Mar

It’s Income Tax Season! Should I File My Taxes?

Should I File My Taxes?

While the answer is probably obvious, many people don’t realize all the reasons why you should file your taxes.

First and foremost you might be entitled to a refund, and if your like me, if the government owes me money I want it.  🙂    Ultimately you have to have paid taxes to be entitled to a refund, so if your only source of income last year was Disability or Social assistance then you won’t likely qualify for a refund, but if you worked and had taxes taken off each pay you will likely have a nice refund coming your way.


Other Benefits Of Filing Your Taxes

Regardless of whether or not you are getting a refund you also need to file your taxes to qualify for and to receive other benefits like these:

  • GST/HST Credits (usually paid every 3 months if you qualify)
  • Trillium (usually paid monthly if you qualify)
  • Child Tax Credits

There can be many other reasons to make sure you stay current on your taxes so don’t put it off, file your taxes and make sure that you get all the benefits that you qualify for.

The good news is that Mac Frugal’s/Cash Depot has recently added an Income Tax Service to help you get them done.    If you have a basic return and want to E-File, which means that any refund owing to you will get sent to you generally within 5 to 10 days,  we only charge $29.98 + tax (less than 1/2 the cost of most tax places).      If you don’t qualify for a refund this is your only option.

If you do qualify for a refund, then you can elect to get Cash Back.   The fees for this are set by the government, which is 15% on the first $300.00 and 5% after that.   The good news is that unlike most places, we will give you Cash and not a Cheque!

Either way we are here to help you Maximize Your Refund!