Tax Preparation - Canada 🇨🇦
Living a stress-free life means getting your taxes sorted out.
Who should file a tax return?
Canadian residents, Non-residents of Canada, International students, Seasonal workers, Deemed residents​, Newcomers to Canada (immigrants)
Simple tax situation
In general, a tax situation is simple if an individual has employment income or if their income comes from these sources:
• Employment
• Pension
• Benefits, such as the Canada Pension Plan
• Old Age Security
• Disability insurance
• Employment Insurance
• Social assistance
• Registered Retirement Savings Plans (RRSPs)
• Scholarships, fellowships, bursaries, or grants
• Interest (under $1,000)
Why it’s Important to File Your Taxes Every Year
Interruption of Benefits
If you’re receiving the Canada Child Benefit or Old Age Security benefits, filing your return on time is especially important. Your eligibility for these benefits is updated every July and determined by the numbers on your tax return so if you fail to file your tax return by the April 30th deadline, you risk having your benefits delayed.
You maybe eligible to receive addition government benefits such as: GST/HST, Ontario Trillium benefit (OTB), Ontario climate action incentive and other various province benefits are determined by numbers on your tax return, so it’s essential to get it in on time to take advantage of these credits.
As you can see, filing your tax return on time can bring many economic benefits to you and your family and not filling them can bring you consequences. Even if you can’t pay your balance in full by April 30th, file your taxes anyway. You’ll be saving yourself money and hassles in the long run!
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