The biggest financial mistake newcomers make: not filing in their first year because "I didn't earn anything." Filing a $0 tax return unlocks GST/HST Credit ($500+/yr), Canada Child Benefit (up to $7,787/yr per kid), and Climate Action Incentive ($400-1,000/yr). Real money.
Quarterly tax credit · most newcomers eligible · file even with $0 income
Monthly · tax-free · need SIN + 18mo residency for child
Quarterly carbon rebate · 8 provinces · refundable credit
T4 (employment), T2202 (tuition), T5 (interest), bank summaries. Employers send by Feb 28.
Wealthsimple Tax (free), TurboTax ($20-50), or accountant ($75-200). Most newcomers use free Wealthsimple Tax.
GST/HST Credit + CCB auto-applied. Make sure SIN entered correctly + CRA My Account set up.
Deadline = April 30 of following year. Self-employed: June 15. Late filing = 5% penalty on unpaid balance.
CRA My Account → Direct Deposit. Get refunds + benefits 2 weeks faster than paper cheque.