Keeping Your Finances in Order: The Big Picture (Part 5/5)

Beyond the immediate benefits, filing a tax return is simply a vital part of staying financially organized. It ensures you have a clear picture of your income and expenses for the year.

Peace of Mind: Staying on top of your taxes provides peace of mind and prevents future complications. If the CRA requests a return from you, you are legally obligated to file. Ignoring these requests can lead to penalties, interest charges, or a disruption in benefits.

By filing your return, you fulfill your obligations, access the benefits you are entitled to, and build a solid financial record. It's a simple annual task that pays off in big ways!

Source: https://www.canada.ca/en/services/taxes/income-tax/personal-income-tax/who-should-file-tax.html