1. Make sure you file your tax return on time – the deadline is April 30, 2019 – thus you will avoid the late filling penalty that is 5% of your balance due, plus 1% per month for a max of 12 months.
2. If any charitable donations were missed to be claimed in earlier years, you may still do it for five years after the year in which the donation was made.
3. If you moved because your place of employment has changed, and your new residence is at least 40 km closer to your new job location than your old residence, you may be able to claim some of your moving expenses. Those are limited to the employment income earned at your new location. However, any amount in excess of this can be carried forward to the next year.
4. If you are a resident of Ontario, New Brunswick, Manitoba or Saskatchewan, you will begin paying the federal carbon tax on April 1, 2019. That is a bad news. The good news is that the government is refunding you, file Climate Action Incentive Schedule 14 of your tax return.
5. If you turn 19 before April 01, 2020, make sure that you file 2018 tax return. The CRA will automatically determine your eligibility for the GST/HST credit. You will start getting it with the first payment after the month of your 19th birthday. For example, if you turn 19 in March 2020, you will receive the last quarterly payment for the July 2019 to June 2020 period, which is paid in April 2020.