Should I File Taxes For Previous Years?

[mimi-]

I haven't filed a tax return for the years 2007-2009 since I thought I didn't need to because I wasn't employed or made very little income (less than $2000) as a student. Should I file taxes for those years? Would I get back any money or benefits?

[Angela273]

The government with no income tax filed claims that a person made $30,000 net. You will need to do income tax for those years because when you do your taxes for future years (without doing these ones first) the government will not give you any money back.

[Midnightly]

you should file.. because even though you were a student making little to no money they need to have a record to follow.. plus you may have been eligable for things like GST/HST rebates, and other rebates offered (i remember a climate action rebate a few years back) which could add up to a nice chunk of change

[mhk]

Best to file. Like Midnigtly says, you get the GST credit, etc back, and also begin to build up RRSP room (even if your income was minimal - it still adds up).

[ashedfc]

I haven't filed a tax return for the years 2007-2009 since I thought I didn't need to because I wasn't employed or made very little income (less than $2000) as a student. Should I file taxes for those years? Would I get back any money or benefits?

For sure, You must file your taxes. Infact its in your best interest to file your taxes.
1. You may be eligible for a refund (cheque from CRA),
2. Your rental expense is eligible for a credit.
3. Your income (whatever the amount is) has a tax component, which might be refunded back to you.
4. In future when you have higher income, you still have to clear your backlog tax filing.
5. HST credit (cheque in the mail) is given only to those who have filed their taxes.

So you have nothing to loose & a lot to gain

[Gsxrboy]

I have used Genutax tax program that allows you to do previous years taxes, and it only costs $40 for the program, and it is free after that. You don't need to purchase the same program for the previous years.

http://www.genutax.ca/

[mimi-]

thanks for the advice, everyone! i'll start on back filing my taxes
am i suppose back file from the year i turned 18 or do i need to go back further than that?

[save_girl]

You should back file for every year you had an income (particularly if you had tax deducted from your paycheque) or that you had credits from something like tuition, which carry forward.

[Insane]

2. Your rental expense is eligible for a credit.

Not in every province.

If you were a student you might also be eligible for tuition credits that can be carried forward to future years.