Closure to support your taxpayer relief request to cancel interest or penalties based on your inability to pay or financial hardship (see below for definitions and examples). Complete this form and Form RC4288, "Request for Taxpayer Relief". Send both forms together with all the supporting documentation (see below for definitions and examples) to the appropriate intake centre as indicated on Form RC4288. You may submit photocopies of supporting documentation. If you are completing this f.

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How to fill out the Canada RC376 online

The Canada RC376 form is essential for individuals seeking taxpayer relief due to financial hardship. This guide provides clear and detailed instructions on completing the form, ensuring that users understand each section and can confidently submit their request.

Follow the steps to successfully complete the Canada RC376 online.

  1. Press the ‘Get Form’ button to access the RC376 and open it in the online editor.
  2. Begin by entering your personal information, including your name, year, month, home address, and social insurance number (SIN). Ensure accuracy as this identifies your taxpayer profile.
  3. Provide your contact details such as daytime and evening telephone numbers, along with your employer's information, if applicable.
  4. If self-employed, include current business financial statements and the business number (BN). Also, list details for your spouse or common-law partner, including their names and SIN.
  5. Complete the Monthly Household Net Income and Expense Statement by detailing all forms of income you receive, including employment income, pensions, and other sources.
  6. List all monthly expenses under various categories such as housing, vehicles, medical expenses, and personal care, ensuring you do not omit any important financial obligations.
  7. In the Asset Statement section, include details of your bank accounts, real estate, investments, and any other assets. Indicate the market value for each.
  8. Provide the Liability Statement, detailing any debts you hold including mortgages, loans, and credit card balances, along with the balance owing.
  9. Review all entries thoroughly for any errors or omissions. It is crucial for the integrity of your submission.
  10. Once completed, save your changes and upload any supporting documentation as specified. After confirming all information is accurate, proceed to download, print, or share the form as needed.

Complete your tax relief request online today to ensure you receive the support you need.

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What is RC376?

In order to provide full financial disclosure, the CRA recommends that taxpayers use Form RC376, Taxpayer Relief Request — Statement of Income and Expenses and Assets and Liabilities for Individuals.

Tax-free basic personal amounts (BPA) This means that an individual Canadian taxpayer can earn up-to $15,000 in 2023 before paying any federal income tax. For the 2024 tax year, the federal basic personal amount is $15,705 (for taxpayers with a net income of $173,205 or less).

lottery winnings, and raffle prizes, unless the circumstances deem that the proceeds are considered income from employment, business or property, or a prize for achievement. For instance, prizes from employer-promoted contests could be considered employment income. See Folio S3-F9-C1 below.

What could you get? Goods and services tax / harmonized sales tax (GST/HST) credit – up to $496 per year for an eligible individual and up to $650 per year for an eligible couple. Age amount – non-refundable tax credit up to $8,396 per year if you are 65 and older.

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