E-File
E-File is an automated system that allows registered service providers to submit income tax return information directly to CCRA. Majority of Canadians are eligible to use E-File. Usually CCRA provides an acceptance file within three hours after submitting income tax information by E-Filer. It is very important to ensure the accuracy of the preparation of tax return for first-time acceptance.
Benefits
- Fast refund - usually 10-14 working days since some manual steps cut.
- Paperless - tax return information is transmitted directly to CCRA terminals.
- Direct deposit - income tax refund, GST/HST credit payment and Child Tax Benefit could be deposited to taxpayer account directly.
- Greater accuracy - since series of checks performed by special computer programs and filters
Taxpayer has to show all necessary documents to E-File service provider and keep all information slips, receipts and other supporting documents used to prepare return for six years in case CCRA may asks to see them.