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Email this10:25 am
September 7, 2018
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Warwick111 said
For those who are anxious about their T3 slips, TDDI has just posted mine today on my TDDI account.
Yes TDDI has always received top marks as an online brokerage.
There are no T3s posted yet on iTrade but, hey, it is only March 19 today so they have time before the Monday March 31 deadline.
12:57 pm
August 17, 2010
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nothing yet on BMO Investorline or Wealthsimple
1:20 pm
October 27, 2013
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My past experience with both BMOIL and Scotia iTrade T3 tax slips is early the last week of March. This year could be different should cetain issuers use the CRA extensions granted to them.
9:24 am
September 21, 2022
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UFile software (btw made in Canada) now seems to have correction for Netfile... changes forms seem to have approved by CRA - no more cap gains issue preventing sending :-p
11:03 am
October 27, 2013
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Indeed. Banner at the top of https://community.ufile.ca/
11:12 am
April 6, 2013
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All the desktop NETFILE software listed on CRA: Certified tax software have now been re-certified and now marked "*Certified for Capital Dispositions 2024".
5:29 pm
March 30, 2017
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interesting looks like most t3 will be issued before the mar31 deadline. but the jun2 file date without penalty still applies !!
5:56 pm
September 7, 2018
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savemoresaveoften said
interesting looks like most t3 will be issued before the mar31 deadline. but the jun2 file date without penalty still applies !!
If my T3s show up by March 31 and I have a tax refund, I will file my T1 immediately, but if I owe money to CRA, then I will file my return June 2. Just like Mr. Carney says, "I follow the rules"!
6:23 pm
October 27, 2013
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canadian.100 said
If my T3s show up by March 31 and I have a tax refund, I will file my T1 immediately, but if I owe money to CRA, then I will file my return June 2. Just like Mr. Carney says, "I follow the rules"!
Just remember the penalty free extension to June 2nd only applies to 'impacted T1 returns', i.e. only those that have data inputs to Schedule 3. It does not apply to all T1 returns.
6:37 pm
September 7, 2018
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AltaRed said
Just remember the penalty free extension to June 2nd only applies to 'impacted T1 returns', i.e. only those that have data inputs to Schedule 3. It does not apply to all T1 returns.
Yes - I do have data inputs (dispositions/capital gains/capital losses) to Schedule 3.
So bring on the T3s - the sooner the better. As I said, if they come in a timely manner, I will file my T1 as soon as I can if I have a refund - but I am eligible to use the June date, which I will use if I owe CRA a balance.
6:49 am
August 30, 2023
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AltaRed said
Just remember the penalty free extension to June 2nd only applies to 'impacted T1 returns', i.e. only those that have data inputs to Schedule 3. It does not apply to all T1 returns.
@AltaRed: What if I have an impacted an impacted T1 and my wife doesn't. I have currently compiled our combined returns on Wealthsimple and not yet filed. I don't think I can just submit hers separately as it is optimized as a combined return. The NETFILE access code only shows under my return.
So how do I go about it? Can I wait till June 2nd for both and there would be no penalty?
Your inputs or from any other members here would be really appreciated thanks.
7:33 am
April 6, 2013
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There is no such thing as a combined or joint income tax return in Canada. Two returns may be co-ordinated. Like the returns of spouses or the returns of a student and the student's parent. But, the returns are still separate returns that can be filed individually.
There has been no indication that a return is considered impacted and has relief until June 2 if the return has nothing to report in Schedule 3.
7:38 am
October 27, 2013
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Every taxpayer has their own Netfile Access Code* from their 2023 CRA NOA and each taxpayer netfiles separately since our tax code is individually based. While you will want to prepare both T1 returns together to optimize the benefits, they are not combined returns and there is no requirement to netfile at the same time. Only certain benefits are subject to optimization anyway, such as certain deductions, tax credits and pension income splitting and those are already know by Feb 28th.
Guidance from accounting firms suggests a 'non-impacted' T1 return must be filed by April 30th to avoid penalties while 'impacted' T1 returns have a grace period to June 2nd. It is what I will do IF I cannot netfile my impacted T1 return by April 30th, i.e. netfile my spouse's return and hold mine back.
* A Netfile Access Code is supposedly not even necessary to actually netfile a T1 tax return. https://www.canada.ca/en/revenue-agency/services/e-services/digital-services-individuals/netfile-overview.html
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