Get CRA Tax Refund In less Than 2 Weeks

canadian dollars Get CRA Tax Refund In less Than 2 WeeksThe first quarter of the year is what I consider a crucial moment that directly affects my financial goals, and the first on the list is getting my CRA tax refund as fast as possible without spending.

In just 10 days I will have the much-awaited tax return in my account.

As to how much is a top-secret information, but how did I do it is what I’m going to gladly share. If it is your first time of filing, I suggest reading the General and Income Tax Benefit Guide. And as I’ve expressed before, I’m going to file the income tax return online though I’m surrounded by doubts and negative notion. Well, I’m glad I did. I highly suggest for you to give it a try whether you are a beginner or a tax payer still preferring the conventional way through snail mail. Just  a reminder, if you are planning to submit online, this post is very much applicable and timely; otherwise, you can still glean some tips that are surely helpful.

How to Get CRA Tax Refund: Fast and Easy

  1. Prepare your income tax return using Studio Tax, a free software. If you want an easy-to-use, fast software, it is just what you need. Make sure all the receipts and credits are claimed, but don’t worry Studio Tax will remind you of the credits you can possibly claim while using the wizard.
  2. Create a NETFILE using your chosen software. (The file have a “.tax” an extension name after the file name.) I also use Turbo Tax Basic and the result just have minimal discrepancy that will be a drop in a bucket upon claiming the refund.
  3. Make sure your personal information is updated and similar to the record of CRA. Otherwise, you cannot make an online submission until the update occurs. You can change you address and other information by logging in your “My Account” which is just one of the many easy methods. Date of birth and social insurance number are what you’re going to provide before submitting the NETFILE.

The first set of steps is all about preparing and submitting the income tax return online. If you are thinking of filing via snail mail maybe it is time to consider the electronic method. I’m not sure how long before you can claim the refund through the former method. Still, the next step might help in the process.

How to Check CRA Tax Refund Status

According to CRA if you have a direct deposit you can get your refund within eight days from the day of NETFILE filing.

  • If you’re not yet registered try the “Quick Access” and don’t forget to create an account which can show the tax information, RRSP, and TFSA information relevant to your financial status.
  • If within two weeks and you haven’t received your refund you can call Telerefund (1-800-959-1956) or log in on CRA. ( My Account is so invaluable that you really must have one. Sorry for harping too much about this.)

That’s how fast and easy you can receive the tax refund in less than 2 weeks. This is by far a great improvement compare to last year which left me in more than a month in waiting. So from now on I’m going to submit online, use a free tax software, and avail from all the credits and refunds I am qualified. Most importantly, I’ll make sure to increase the tax refund and avoid owing the CRA which is worse than not having a refund at all.

More Tax Tips From Canada Agency Revenue:

How are you doing so far?

Still mulling as to which method to try or still digging in your drawers or cabinets for that elusive (or misplaced or forgotten) receipt.

Take your time.

And once you have it all, don’t waste time: file online.

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