Three Tips to Help Streamline Your Tax Filing
- 11 hours ago
- 3 min read
With tax season approaching, now is a great time to talk about best practices for filing your return accurately and efficiently.
As a reminder, the personal tax filing deadline is April 30.
If you are self-employed and still working, your deadline is June 15.
After the challenges Canadians experienced in 2025, this conversation feels especially relevant.
What Happened in 2025?
Many retirees faced significant tax filing issues, including:
Delayed T4A slips due to technical difficulties
New CRA electronic filing and validation systems causing submission errors
T3 and T5 slips not uploaded until May in some cases
Delays in CRA My Account slip visibility
Canada Post strikes slowing mail delivery
Reassessments when late slips appeared after returns were filed
The result?
Interest arrears, installment requests, and frustration.
To help you avoid similar headaches, here are three simple strategies.
Tip #1: Create a CRA My Account
Everyone should have access to their CRA My Account. This is separate from your My Service Canada Account, which handles CPP, OAS, and Employment Insurance.
A CRA My Account allows you to:
View RRSP and TFSA contribution room
Access notices of assessment
Monitor installment reminders
Review prior-year slips
Track which slips have been uploaded
For our clients, we request disclosure-only access so we can verify TFSA room, confirm slips, and ensure accuracy. This level of coordination is uncommon but incredibly valuable.
Having proper access reduces errors, protects your time, and improves the accuracy of advice.
Tip #2: Wait Before Filing
This is simple but powerful.
Many people rush to file early, only to receive additional slips afterward. T3 slips often have a late-March mailing deadline and can arrive later than expected.
If you have non-registered investment accounts, these are typically the last slips to arrive.
Even if 2025 was unusual, the best practice remains the same:
Slow down. Review your documents. File once you’re confident everything has arrived.
Tip #3: Create a Tax Slip Checklist
If you typically receive multiple slips each year, a checklist is a game changer.
Here’s how to create one:
Review last year’s return and list every slip received.
Check your non-registered accounts for T3 slips from mutual funds or ETFs.
Account for T5 slips from individual stocks, GICs, or interest-bearing investments.
Track deductible investment advisor fees.
Even small missed entries can lead to reassessments.
If you work with an advisor, ask them to provide a customized checklist outlining what slips you should expect from their firm. This year, our team is implementing personalized tax slip checklists for clients to reduce errors and make life easier for both households and their accountants.
Additional Tax Value Adds
Beyond slip tracking, we believe real financial advice includes:
Coordinating with accountants
Providing corporate tax packages for business owners
Delivering customized fall tax strategy letters for retirees
Acting as a second set of eyes on filed returns
If you pay for advice, you deserve more than investment management. You deserve coordination and proactive tax planning.
A Personal Reflection on Retirement
On January 31, my wife and I welcomed our third child, Naomi. I took three weeks away from work — something I had not done in 15 years.
Stepping away was harder than expected. It reminded me how much identity can be tied to career.
For retirees who struggle with the emotional side of stepping away from work, I understand that more deeply now. Retirement is not just a financial transition. It is a personal one.
My hope for you is that you plan for purpose just as carefully as you plan for income.
Action Items
Create or log into your CRA My Account and review prior-year slips.
Build a tax slip checklist if you receive multiple documents annually.
Wait until you are confident all slips have arrived before filing.
If retirement feels difficult to envision, start planning for purpose early.
Retirement planning is about more than numbers. It’s about creating a life you feel confident stepping into.
For more resources, visit retiringcanada.ca and sign up for the Retiring Canada newsletter.
And when it comes to your retirement, don’t take chances.
Make a plan so YOU can retire with confidence.
All comments are of a general nature and should not be relied upon as individual advice. The views and opinions expressed in this commentary may not necessarily reflect those of Harbourfront Wealth Management. While every attempt is made to ensure accuracy, facts and figures are not guaranteed, the content is not intended to be a substitute for professional investing or tax advice. Please seek advice from your accountant regarding anything raised in the content of the podcast regarding your Individual tax situation. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.