Who needs to wait before filing their taxes?

Many people only realized after March 31 that a slip was missing.

Last year, frequent policy changes caused delays in the submission of T-forms from banks, leading many to complain to us that their previous accountants were unreliable and failed to remind them to submit complete T-forms, resulting in the need to submit them retroactively after filing their taxes. Every year when filing taxes, we always remind our clients to prepare their tax information as early as possible and to collect the T-forms issued by banks and financial companies, as well as receipts for special tax accounts. Some clients even feel they are being very efficient and repeatedly confirm that there are no other forms required.

But then we'll find out again in early April—he received a notification from the bank that the T3 slip has been sent.

He was stunned on the spot.

Because that T3 contains:

• Dividend income

• Capital gain

• Interest

But his tax return has already been submitted.

Why does this happen every year?

Many people know:

• T4 → End of February

• T5 → End of February

But a crucial point was overlooked:

T3 usually doesn't come out until after March 31st.

Especially:

• Mutual funds

• ETFs

• Trust Products

• Some investment accounts

If you have an investment account but file your taxes in March, what you're reporting is likely only a "half-finished product".

The CRA won't remind you that you're missing a slip.

What will the system do?

👉 Wait for the bank to upload the data 👉 The system will automatically match 👉 Inconsistent → Reassessment

Many people didn't intentionally underreport, but rather—

"I thought that was all."

There is a detail that many people overlook.

One of our clients told us:

"I didn't make much money this year, just a few hundred yuan in investment returns."

The problem isn't the amount, but rather—

The system will compare as long as there is a slip.

Even if it's 200 yuan, an adjustment will be triggered if it doesn't match.

You can ask yourself three questions before filing your taxes:

1️⃣ Do I have an investment account?

2️⃣ Do I have a mutual fund/ETF?

3️⃣ Did I wait until early April for the final review?

If you have an investment account, filing taxes in March does not guarantee safety.

I'll leave you with a question.

When you file your taxes this year, do you make sure you have all your T-slips?

Or perhaps you'll only find out you're "missing a card" after the bank updates its records in April.

Every year, many people don't miscalculate their taxes, but rather file their taxes too early.