A taxpayer has asked me if they need to file a tax return for their 16-year-old son with their taxes.
According to the father, the teenager made just over $16k from two jobs. I realize this is barely above the Basic personal amount but I believe the teenager needs to file.
Would it be best to create a new return for the teenager?
Add the son as a family member.
I would put him in as a dependent in the parent’s file and enter his T4’s. He only has to file if he owes/has refunds - he’s not old enough to get GST credits although his employment income will give him RRSP room for future years.
Yes absolutely file! The sooner they start to file the sooner they start building their RRSP contribution room. Plus if they turn 19 before next May (2025), they will get the GST Credit based on this tax return.
Edit Sorry just re-read your post and he’s only 16. I always recommend filing.
Doesn’t NEED to file, but he probably will get a refund (i.e. tax withheld from paycheques), not to mention RRSP room (as noted by @laurie and @Versa ). So, it’s in his best interest to file. Inform the client, and let them decide.
Its always great to see a responsible parent guide his son to professionally qualified and schooled experts, rather than rely on his mates or the internet!
Good for him! 