Parvati is 21 years old and a full-time student at Concordia. She has never filed...
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Parvati is 21 years old and a full-time student at Concordia. She has never filed a personal income tax return but was thinking of doing so for her 2022 income tax returns. She has always lived in Quebec and held summer internships and part-time jobs throughout her studies since she was 18 years old. Her employers have always withheld Federal and Provincial taxes and she has consistently earned $13,000 a year. Which statement reflects the best advice to Parvati regarding her 2022 personal income tax returns?
Parvati should file her tax returns as she may owe taxes; she may also be entitled to claim certain benefits and credits that may be due to her.
Parvati should file her tax returns as she may be entitled to refunds; she may also be entitled to claim certain benefits and credits that may be due to her.
Parvati should file her tax returns as she owes taxes and will have penalties and interest owing as it is past the April 30, 2023, filing deadline.
Parvati is entitled to refunds. By filing her tax returns, it will allow her to carry forward her tuition non-refundable tax credit to use in future years and to accumulate Registered Retirement Savings Plan (RRSP) contribution room as well as claim certain benefits due to her.
Parvati can wait until Canada Revenue Agency (CRA) sends her a formal request to file her tax returns.
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