Spring! and a Woman’s Thoughts Turn to Tax Time

Ah, Spring! This weekend my thoughts turn to Easter chocolate, crocuses, and……

a woman completing her income tax

income tax!

Unlike our colleagues in the U.S., many of us have today and possibly even Monday free from the office. What better time to sort out all those papers, gather up the receipts, and file that claim?

And yet, still so many women continue to put their heads in the sand and claim that completing a simple income tax form is “too complicated”. They recruit fathers, husbands, brothers to help or even fill out their forms for them. They may think they are saving themselves a headache and getting away with one less hassle, but I say they are doing themselves a great injustice.

Possibly I was lucky. Back in grade 7 or 8 in Quebec, we had a special “life lessons” class in which the teacher pulled out the forms and walked us through them. He pointed out how easy it really is, and it was a lesson I never forgot. With some simple math skills, and the literacy skills needed to read the form and related instructions, all the kids in that class could do it. So why don’t some adult women fill their own forms in? I don’t get it.

Key punching tax data at Canada Revenue Agency Key punching tax data at Canada Revenue Agency

Granted, I have a relatively simple form to fill out. No partnerships or employee share plans or the like. No second home in Florida or villa in France. Getting expert tax advice is important in many instances. But still, we should understand our own finances. And these days, if you are willing to pay for the e-filing software you really just need to plug in numbers. I prefer to keep it “old school” and use paper, pencil and calculator. Well, my father would laugh at my using a calculator! I do remember when they were still new things, too.

What I really value about filling in my own forms is that it gives me an understanding of what money is taken from me, and why, and where the exemptions can be found. I can get a sense of how, in the coming year, I can adjust my practices slightly to get greater benefit. And when the government each year talks about income tax rules changes, I know which are going to be important for me.

I remember once claiming some weird little exemption I had learned about. Something to do with being a student the previous year. I submitted my claim, and promptly had it returned with that exemption denied. I was sure it was a legitimate claim, so I stomped over to what was then Revenue Canada (my local office) and waited in line to see an agent. I spoke with the agent, explained my claim, and had it approved. I was triumphant!

It was then I realized the forms are really just guides. You can write outside the lines! You can put in notes! If I had just written in a little note stating why I was claiming this one exemption, I could have saved myself a couple hours’ wait appealing the denied claim. Still, it was a boost in my own confidence in understanding the income tax system.

Another secret is there is a wealth of information on the CRA website for the general public. And if you have a bit of time, check out the income tax myths page.

To get started in filing the first time, I recommend giving it a shot yourself, reading through the form and following it along with the instruction booklet. Then if you like have that significant other check it over for you. But even if you make a slight math error, the CRA will usually catch it and correct if for you anyway. As long as you don’t purposely file something wrong, they are actually fairly forgiving.

Tax returns storage Tax returns storage at the CRA.

Don’t forget, for most of us our 2005 income tax filing is due April 30, 2006 which is coming up fast.

HAPPY INCOME TAX FILING!!

Photos courtesy Canada Revenue Agency media room.

Comments

  1. Of course, you realize I am not talking about *all* female friends and relatives. Some I know do taxes for their entire families!