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Tax related questions
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Hello I have a few tax related questions in regards to taxes for people living in Ontario;

  1. is "doing your taxes / paying taxes / filing my taxes" the same as when you say you are "filing your tax return"? like are they the same process?
  2. if I am someone who works full time and has a savings account will the only documents I need in order to do my taxes / file my tax returns be my T4 & T5 slip or will there be another slip or document that I need to hand over? I don't know if this helps but I just graduated, I don't own a house, don't own a car nor do I pay rent seeing as I am living with family at the moment to save money so I don't think I have any other type of tax related thing right?
  3. who hands me my T4 and T5 slip and when? Will my T4 be handed to me by my employer and will my T5 be mailed to me by my bank?
  4. where do I even file my taxes / do my taxes / file my tax returns?
  5. why do i hear that some people provide receipts for various things when they file their taxes? For example someone said they put a receipt of their monthly OC transpo bus pass for tax returns. I thought the only thing you needed to do your taxes was to hand over your T4 slip, your T5 slip (if you have a savings account) and like some other documents if you own property / a house / a car or something.
  6. I have student loans...I don't know if that has anything to do with taxes? I'm going to start paying the monthly 160$ I need to pay to OSAP to pay off my loans in time.

Thank you so so much and I am certain so many of these question might seem idiotic but I am just so darn confused about the whole tax process in general.

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5 years ago