Navigating Your First Tax Return: A Guide for Indigenous Youth
Session Objective
This free financial literacy session is for Indigenous youth ages 14 to 18 and covers the process of filing your first tax return.
Students will learn why taxes are important, and how they can successfully prepare to file a tax return, removing any anxiety or confusion and increasing confidence in the process.
This session can be held virtually or in-person. and typically runs for 60 minutes with a 45-minute presentation followed by 15 minutes of Q&A
Learning Outcomes
- understand the purpose of taxes in Canada
- learn what it means to file a tax return and what rules apply to you if you are status
- learn the steps for filing your first tax return and what tools and resources can help you along the way
Session Outline
- the importance of taxes in Canada
- taxation and its role in society
- how Canada’s tax system works
- the role of the Canada Revenue Agency (CRA)
- filing a tax return
- what to do if you are status
- explanation of the TD1 Form
- when to file your tax return
- the steps for filing your first tax return
- the importance of a SIN number
- gathering needed documents
- tax clinics and how they can help
- free tax software and the role of the CRA
- tools and resources
- Q&A
Learning Materials
- Essential Tax Forms
- List of Common Acronyms
