Electronic filing of tax returns grows in popularity
30.05.2008 21:01
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- Source: cbc.ca
Canadians are increasingly embracing electronic tax returns rather than filing on paper, the Canada Revenue Agency says. New figures show that more than 55 per cent of returns filed this tax year have been by Netfile (where taxpayers file their returns themselves through the web) or Efile (where professional tax preparers use the web to file client returns). | Tax returns filed |
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| Method | 2008 | 2007 | Change |
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| Efile | 9,014,295 | 8,259,416 | +9.1% |
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| Netfile | 4,150,737 | 3,957,938 | +4.9% |
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| Telefile | 478,023 | 505,966 | -5.5% |
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| Paper | 10,044,362 | 10,376,644 | -3.2% |
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| TOTAL RECEIVED | 23,687,417 | 23,099,964 | +2.5% |
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| Source: Statistics Canada (figures as of May 28, 2008) |
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Just over nine million returns were Efiled — a jump of 9.1 per cent from last year. More than 4.1 million returns were Netfiled. That's up 4.9 per cent from last year, the tax department said. About 10 million returns have been filed on paper, down 3.2 per cent from the 10.38 million paper returns received last year. Telefile — which allows people with simple returns to file over the phone — continued to drop in popularity. Only 478,000 returns were telefiled this year, down 5.5 per cent from last year. The average refund so far is $1,440 — up almost $200 from last year. Retroactive tax cuts contained in last year's fall economic update explain the increase. The Canada Revenue Agency is expecting about 25 million returns to be filed this year. As of May 28, almost 23.7 million returns had been processed. Self-employed individuals have until midnight on Monday, June 16, to file their returns. In late April, the Canada Revenue Agency announced that taxpayers who were Netfiling would have until May 6 to file their returns. The six-day extension was granted after some people found it difficult to connect online with the tax department during the last few days of April because of the crush of late filers. Story Tools: E-MAIL | PRINT | Text Size: SMLXL | REPORT TYPO | SEND YOUR FEEDBACKRelatedInternal LinksIN DEPTH: A guide to the latest tax softwareNetfile users get May 6 tax extensionMoney HeadlinesSlowing auto sector drives economy into Q1 decline: StatsCanThe Canadian economy shrank at an annualized rate of 0.3 per cent over the first three months of the year, the first such contraction in almost five years. Electronic filing of tax returns grows in popularity Canadians are increasingly embracing electronic tax returns rather than filing on paper, the Canada Revenue Agency says. U.S. consumer spending stallsAmerican consumer spending barely budged in April and growth in personal income growth slowed sharply even though the U.S. government started sending out billions of dollars in economic stimulus payments.Montreal Climate Exchange starts tradingThe Montreal Climate Exchange, a joint venture between the Montreal Exchange and the Chicago Climate Exchange, is the first market in Canada to allow the trading of futures contracts on greenhouse gases. United Airlines, US Airways ground merger talksThe CEOs of United Airlines and US Airways formally shelved their effort to create the world's largest airline, backing away from a deal that could have shored up their finances but would have resulted in fewer routes and higher ticket prices. Money FeaturesMONEY TALKSEllen RosemanComparing credit card travel rewardsECONOMYDreaded 'R-word'What a recession really is, and what it means to youBIZ HITVideo UpdateHourly market wrap from CBC NewsworldPeople who read this also read …
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