What do I do with my T4 statement?

Question

I'm 17 years old and as far as tax returns and the such go, I have no idea how to go about it. I was given my first T4 form a week or so ago, but I don't know what to do with it. It seems that th boxes applicable to me have been filled by my employer, so now what?

Answer 1

Seed,

Try reading the information in the below link, after choosing your province of residence.

You need to complete a T1 personal income tax return. If you read through the guide you should be able to do it by hand. Or you can go to Staples or wherever and buy a cheap income tax prep software such as QuickTax.

Good luck!

Answer 2

Now that you have your T4, you can file your tax return.

Information on your Canadian Tax Return can be found at http://www.cra-arc.gc.ca/tax/individuals/topics/income-tax/menu-e.html

Gather up your RRSP contribution slips, tuition receipts, charitable donations slips, and anything else you might have, and sit down with the tax forms and work your way through them.

Hope this helps.

Answer 3

go to H & R block with those slips, all your reciepts from donations, any RRSP statements. They will file your taxes for you and give you a nice cheque.