The hardest thing in the world to understand is the income tax.
Like it or not, it's that time of year again, tax time! As you can see even Albert Einstein, deemed one of the smartest men in history also had a hard time understanding taxes. Not to worry, the library is here to help. If you come visit us in the Business Department department up on the fourth floor, we have some free booklets prepared by Ontario's Certified General Accountants called Your Personal Tax Planning Guide. Every year we receive these booklets around January, just in time for you to start preparing your taxes. You can also view this free publication online as a PDF.
It seems as if every year there is something new which we have to learn and include in our taxes. One of the nice features of the free booklet I mentioned above is that it includes a section called Major 2012 Federal and Provincial Changes Affecting Individuals. One of the major changes this year is that the Canada Revenue Agency (CRA) is no longer mailing income tax and benefit packages, we are all being encouraged to file online. However, this doesn't mean that you can't file your taxes on paper you can request a paper package, and it will still be accepted. You can also call the CRA at 1-800-959-8281 (press * star key to speak with an agent).
At North York Central Library, we have our annual income tax clinic:
This is a FREE, community income tax program provided by Certified General Accountants, using software supplied by Canada Revenue Agency. It is available to single persons with incomes under $30,000 or families with an income of under $35,000. Qualified accountants will help individuals to fill out their 2012 Income Tax Returns. Interest income must be under $1000. Sessions are on a First come/First served basis.
Please note clinic dates & times:
Saturdays, March 2, March 9, April 6, April 20, & April 27 - Hours are 10:00am-5pm, last client taken at 4:15pm. Concourse level.
Thursdays, March 7, March 14, March 28, April 11 & 25 - Hours are 6:00pm-8:30pm, last client taken at 7:45pm. Concourse Level.
Please call 416-395-5614 after Jan. 28, 2013 if you need more information.
There are other tax clinics available all across Ontario, the CRA has a great list of Volunteer Tax Preparation Clinics. Also, 211toronto.ca has a list of clinics available across the GTA. If you come up to the Business Department, our staff will be happy to assist you with questions you may have about your income tax, we have a great deal of resources to help you or we can direct you to other places which may help you.
Don't forget that there are always books available to help you prepare your taxes as well if you'd like to do your taxes on your own, here's a couple you can take a peek at:
Gordon Pape, Canadian Personal Finance Expert will also be coming to North York Central Library next Monday evening to present his program Retirement's Harsh New Realities where he'll discuss important things every Canadian should know including information about minimizing your taxes and protecting your financial future.
All the best with your taxes!