Forgot to File Your Taxes Last Year? What You Need to Know Jun 6th

The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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Aeroplan eStore Back to School event - Earn up to 7x miles for online shopping until August 18 + MORE Aug 7th

August is here and the three words that most kids dread have returned - Back to School! Yes it is time to start thinking about Back to School shopping and if you are like me, a lot of that shopping will be done online. When you online shop you should always try to go through an online shopping porta.... More »

AIR MILES Bonus Boom - Over 1,000 Bonus Miles available from participating partners June 27-30 + MORE Jun 27th

AIR MILES Bonus Boom is here for the next four days! There are lots of bonus miles offers up for grabs at AIR MILES sponsors across Canada. Once you get to the Bonus Boom page you can select your province to see your offers. I selected Alberta and there were 30 offers available from American Express.... More »
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July 3 Update: Travel Hacking 101 update, More Rewards Visa being discontinued, Montreal to Casablanca flights for $796 + MORE Jul 3rd

It's been a long time coming but we have finally brought our Travel Hacking 101 article back up to date. This article shows how you can earn Aeroplan Miles or British Airways Executive Club Avios for free It's definitely not like the good old days when the article showed how to get 80,000 or more.... More »

When are credit-card rewards worth paying an annual fee? + MORE Aug 1st

For the last decade or so, Jim and Willina Collins have enjoyed a regular bonus by using their no-fee cash-back credit card to pay for many of their expenses, including holiday flight and accommodation bookings, gasoline, vehicle repairs, and insurance on their vehicles (the couple have a car and a .... More »
Forgot to File Your Taxes Last Year? What You Need to Know
If filing your taxes before the deadline went over your head this year, procrastinating can only make things worse.
Unlike sales tax, which is a pay-at-the-pump proposition, Canada’s income tax system is based on self-assessment. Make your money, plan your affairs as best you can and then, pay up.
Not everybody does though. So if the April 30 deadline sneaked up and passed you, here are a few things to keep in mind.
Better to file late than never
Did you just realize that you forgot to file last year?
Some people may neglect to file one year and then freeze when it comes to the next year’s tax return because of the old unfiled return.
This type of procrastination hurts since the Canada Revenue Agency will monitor your financial behaviour over time, using identifiers like your SIN and your date of birth to access data from your bank accounts or credit card transactions.
At this point, it’s best to contact the CRA to find out any penalties you may have incurred, as well as the best way to file and pay off your outstanding balance immediately…

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