Can I refile a 2018 T1 that has been carried forward to 2019?

I carried forward my 2018 T1 in to 2019 this evening and paid the "one-pay" fee then saved it as a 2019 T1. Then I discovered a mistake in the 2018 T1 (missing some RRSP contributions). I need to refile the 2018 T1 (I have the original assessment from CRA which matched my original filing). Can I refile the 2018 T1 given that it has already been carried forward to 2019? Will I lose the 2019 T1 that I already prepaid?


Answer

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Hello there, if you choose to reFile the 2018, you'll do it from to 2018 file but you may have to pay again the "one-pay" one more time (Call Intuit about that). But here's an idea for you, consider putting the 2018 RRSP in the 2019 tax year, you're allowed to do that as long as the contribution has not yet been deducted, it will be easy for the CRA to check because the info is most likely online already. Another tip to consider is if the income is higher in 2019 than 2018 (people's incomes usually grow from year to year) than the RRSP contribution will yield a bigger tax savings. I often "switch" years on contributions for clients, especially the ones who file multiple years at the same time. Hope this helps...

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