You must file a return for all years you were a resident of Canada if any of the following situations apply:
* You have to pay tax for any year.
* Canada Revenue Agency sent you a request to file a return.
* You and your spouse or common-law partner elected to split pension income for any tax years.
* You received Working Income Tax Benefit (WITB) advance payments or you want to apply for WITB advance payments.
* You disposed of capital property (for example, if you sold real estate or shares) or you realized a taxable capital gain (for example, if a mutual fund or trust attributed amounts to you, or you are reporting a capital gains reserve you claimed on a previous return).
* You have to repay any of your Old Age Security or Employment Insurance benefits.
* You have not repaid all amounts withdrawn from your registered retirement savings plan (RRSP) under the Home Buyers’ Plan or the Lifelong Learning Plan.
* You have to contribute to the Canada Pension Plan (CPP). This can apply if, the total of your net self-employment income and pensionable employment income is more than $3,500 (subject to change).
* You are paying Employment Insurance premiums on self-employment and other eligible earnings.
Even if none of these requirements apply, you may want to file a return if any of the following situations apply:
* You want to claim a refund.
* You want to claim the WITB for the current year.
* You want to apply for the GST/HST credit (including any related provincial credit). For example, you may be eligible if you turn 19 before April of the next year.
* You or your spouse or common-law partner want to begin or continue receiving Canada Child Tax Benefit payments, including related provincial or territorial benefit payments.
* You have incurred a non-capital loss previously that you want to be able to apply in other years.
* You want to carry forward or transfer the unused part of your tuition, education and textbook amounts.
* You want to report income for which you could contribute to an RRSP and/or a pooled registered pension plan (PRPP) in order to keep your RRSP/PRPP deduction limit for future years up to date.
* You want to carry forward the unused investment tax credit on expenditures you incurred during the current year.
* You receive the guaranteed income supplement or allowance benefits under the old age security program. You can usually renew your benefit by filing your return by April 30.
We can help you with filing your income tax returns. Our tax professionals offer convenient, accurate, and affordable preparation of all types of tax filings. We’re equipped to handle any tax situation, including personal returns, rental properties, estate or trust issues and more. We’ll make sure that you get the maximum refund possible. Give us a call now to book your appointment and file your taxes the right way.
Below are the Canada Income Tax Filing Deadlines and dates:
|Payment dates for Canada Child Tax Benefit (CCTB).||January 20
|Deadline for filing tax return for taxpayer who was not self-employed.||April 30 for prior tax year.|
|Deadline for filing tax return for taxpayer who was self-employed.||June 15 for prior tax year.|
|Deadline for filing tax return on behalf of a taxpayer who died in current tax year.||April 30 for prior tax year for taxpayer who was not self-employed, or
June 15 for prior tax year for taxpayer who was self-employed.
|Payment dates for Goods and Services Tax/Harmonized Sales Tax (GST/HST) credits.||January 5
|Deadline for buy or have built a qualifying home under a Home Buyer�s Plan (HBP).||September 30 of the year after the year taxpayer withdraws funds from his/her RRSP(s).|
|Deadline for information slips to be issued by employers, payers, and administrators.||Last day of February of the following calendar year to which the slips apply.|
|Deadlines for installment payments.||March 15
|Deadline to receive a written offer to enroll in a Lifelong Learning Plan (LLP).||Last day of February of the year after the taxpayer withdraws funds from his/her RRSP(s).|
|Deadlines for contributing to a Registered Retirement Savings Plan (RRSP).||Last day of February for prior tax year, and
December 31 of the year taxpayer turns 71 years of age (may not contribute in any amount at any time thereafter).
|Deadline for making tax owing payments for taxpayer who was not self-employed.||April 30 for prior tax year.|
|Deadline for making tax owing payments for taxpayer who was self-employed.||April 30 for prior tax year.|
|Deadline for making tax owing payments on behalf of a taxpayer who died in current tax year.||April 30 for prior tax year if taxpayer died January 1-October 31, whether taxpayer was self-employed or not, or
Six months after taxpayer�s date of death if taxpayer died November 1-December 31, whether taxpayer was self-employed or not.
|Payment dates for Universal Child Care Benefit (UCCB).||January 20
|WITB advance payment dates||January 5
If you owe tax for the current year and do not file your return on time, you will be charged a late-filing penalty. The penalty is 5% of your current years balance owing, plus 1% of your balance owing for each full month your return is late, to a maximum of 12 months.
If you were charged a late-filing penalty on any of your past 3 years returns, your current year late-filing penalty may be 10% of your present balance owing, plus 2% for each full month your return is late, to a maximum of 20 months.
When to expect your tax refund: Four to six weeks for a paper return. CRA does not begin to process returns until mid-February, so do not call before mid-March even if you filed your return in January. If you filed your return on or before April 30th wait four weeks before calling. If you filed you return after April 30th wait six weeks before calling.
E-file : If you electronically file your return could be processed in as soon as five business days but wait at least three weeks before you call.
To find out about your tax refund: Call CRA at 1-800-267-6999 press |1|.
- 15% on the first $45,282 of taxable income
- 20.5% on the next $45,281 of taxable income (on the portion of taxable income between $45,283 and $90,563)
- 26% on the next $49,825 of taxable income (on the portion of taxable income between $90,564 and $140,388)
- 29% on the next $59,612 of taxable income (on the portion of taxable income between $140,389 and $200,000)
- 33% of taxable income over $200,001
To report your business income and expenses, you can complete either one of the following forms:
- This form used to calculate your income from professional activities using the same rules as for a business. However, some aspects of professional activities are different from those of other types of businesses.
You have to complete a separate form for each business or professional activity you operate. For more information, see IT206, Separate Businesses.
For further topics for reporting your business income and expenses like:
- Completing Form T2125 – Statement of Business & Professional Activities
- Getting Form T2125 – Statement of Business & Professional Activities
- Industry codes – Industry codes list to be used when completing the form T2125
- Capital cost allowance – How to deduct the cost of capital property over the years
- Eligible capital expenditures – Definitions, calculations, election and replacement property
- Important Dates – Due dates for filing your returns and making your payments. Establishing a fiscal year-end and calculating installment payments.
- Other Forms and Publications
Click CRA link: CRA Reporting your business income and expenses
Information slips are prepared by your employer, payer, or administrator and must be issued by the last day of February of the following calendar year to which the slips apply.
If you have not received or have lost or misplaced your current year’s T4 slip or any other information slip you believe you will need in order to complete your tax return, you have to ask your employer or the issuer of the slip for a copy.
The following is a list of some of the information slips you may receive:
- T4 Statement of Remuneration Paid
- T4A Statement of Pension, Retirement, Annuity and Other Income
- T4AStatement of Old Age Security (OAS)
- T4A (P) Statement of Canada Pension Plan (CPP) Benefits
- T4E Statement of Employment Insurance (EI) and Other Benefits
- T4RSP Statement of Registered Retirement Savings Plan (RRSP) Income
- T5007 Statement of Benefits
- RC62 Universal Child Care Benefit statement
- T5018 Statement of Contract Payments
The links below provide access to both electronic and print media for current CRA Income Tax Forms. Please click on the links below for the upldated yearly tax forms.
Schedule 1 – Federal Tax
Schedule 2 – Federal Amounts Transferred From Your Spouse or Common-law Partner
Schedule 3 – Capital Gains (or Losses)
Schedule 4 – Statement of Investment Income
Schedule 5 – Details of Dependant
Schedule 6 – Working Income Tax Benefit
Schedule 7 – RRSP Unused Contributions, Transfers, and HBP or LLP Activities
Schedule 8 – CPP Contributions on Self-Employment and Other Earnings
Schedule 9 – Donations and Gifts
Schedule 11 – Tuition, Education, and Textbook Amounts
Other Common Forms:
T1-ADJ T1 Adjustment Request
T1-DD(1) Direct Deposit Request – Individuals
T1-M Moving Expenses Deduction
T1153 Consent and Request Form
T1032 Joint Election to Split Pension Income
T1036 Home Buyers’ Plan (HBP) Request to Withdraw Funds from an RRSP
TL2 Claim for Meals and Lodging Expenses
T776 Statement of Real Estate Rentals
T778 Child Care Expenses Deduction
T2121 Statement of Fishing Activities
T2124 Statement of Business Activities
T2125 Statement of Business or Professional Activities
T2032 Statement of Professional Activities
T2222 Northern Residents Deductions
T2042 Statement of Farming Activities
T2200 Declaration of Conditions of Employment
T2201 Disability Tax Credit Certificate
T2203 Provincial and Territorial Taxes – Multiple Jurisdictions
RC65, Marital Status Change
Select the province or territory in which you resided on December 31, of the tax year. If you were a deemed resident or non-resident of Canada in that year, see Income Tax and Benefit Package (for non-residents and deemed residents of Canada).