A Tax Return is the form where you report your income, deductions, credits, and taxes paid. A Tax Refund is the reimbursement of the excess tax paid over the amount owed.
Anyone with a valid Social Insurance Number (SIN): permanent residents, Canadian citizens, or temporary residents such as students or workers.
If you don’t have a SIN, you can use an ITN (Individual Tax Number) or TTN (Temporary Tax Number).
Even without employment income, students can file taxes using forms like T2202 or TL11A Even without employment income, students can file taxes using forms like T2202 or TL11A.
Canadian tax residents must declare foreign assets valued at CAD $100,000 or more that generate income. Use form T1135 (Foreign Income Verification Statement). Late filing penalties start at CAD $25 per day, with a minimum of CAD $100 and a maximum of CAD $2,500.
According to Canadian tax rules, all worldwide income earned by Canadian tax residents must be declared.
This includes income from abroad, but it doesn’t necessarily mean you’ll owe more tax.
Canada has tax treaties with several countries, including Brazil.
Yes, as a Canadian tax resident, you must report all global income, including income from Brazil, as well as assets over CAD $100,000.
If needed, a tax specialist will contact you.
Through our personalized system, attach necessary forms like T4, T4A, T4E, T4RSP, T2202, etc. Basic information such as full name, SIN, address, marital status, and dependents is essential for all personal tax returns.
Gather your income slips and year-end tax documents (e.g., T4s), receipts, last year’s Notice of Assessment, and a copy of the previous year’s tax return. Most slips and receipts should be available by the end of February. Access your tax and benefit information online through the CRA My Account.
If you’re not registered, request a CRA security code in advance.
No, you can scan or take photos of the documents and upload them to the system.
In Canada, tax returns are filed individually but connected for benefits calculation. If one spouse has no income, we can report zero income for them, allowing the other spouse to receivepersonal credits. Both spouses must file to access benefits like the Child Care Benefit and GST credit.
For certain types of investments, the managing institutions issue tax slips, such as T3, T5, or T5008. If no slips are issued, gains and losses must still be reported.
Yes, you’ll receive a Notice of Assessment from the Canada Revenue Agency (CRA) a few days after filing, either by mail or online through your CRA account.
It can be submitted electronically or by mail.
Electronically filed returns: ~2 weeks.
Paper returns: ~8 weeks.
Non-resident returns: up to 16 weeks.High-demand periods (February–April) may extend these timelines. Refunds are deposited after processing, with direct deposit being faster.
Employees who worked more than 50% of their time from home for at least four consecutive weeks in 2021 due to COVID-19 may claim a deduction. The new temporary fixed-rate method allows a deduction of $2 per day worked from home, up to a maximum of $400. It’s not necessary to fill out the T2200S form.
There are two options to calculate the deduction:
No, due to specific tax rules in Quebec.
Yes, the individual tax return must be filed by April 30th. If filing by mail, the envelope should be postmarked before April 30th to avoid penalties.
If you or your spouse are self-employed, you can file by June 15th. Small business owners also have until June 15th to file, but must pay the previous year’s balance by April 30th.
The deadline is April 30. If it falls on a weekend or holiday, it extends to the next business day.
Self-employed individuals and small business owners have until June 15, but taxes owed must be paid by April 30.
If you file your tax return late and have taxes to pay, the CRA will charge you interest and late penalties:
Note: Even if you can’t pay immediately, file on time to avoid penalties. If no tax is owed, there are no penalties.
RRSP contributions reduce taxable income, but withdrawals are taxed.
Interest income is the interest earned on your investments.
Yes, if you declare as a resident of Canada, you must report income from foreign investments.
Yes, tips are considered income, even if they are not included on your T4. They should be reported on your personal income tax return.
No, the CCB is a tax-free monthly payment for eligible families with children under 18 years of age.
Yes, maternity leave benefits are part of Employment Insurance (EI) and are taxable.
Yes, EI is taxable.
No, you do not have to pay tax in the year of withdrawal under the HBP. You must start repaying the RRSP within two years of the first withdrawal.
If you received any of the following payments, they are considered taxable income:
You must report the total amount of benefits received.
You will receive a T4A (for benefits issued by the CRA) and/or a T4E (for benefits issued by Service Canada) with the information to file.
These slips will also be available online on your My CRA Account starting February 2021.
Depending on your personal situation, you may owe taxes when filing your 2021 income.
A Tax Return is the declaration where we report income, deductions, and credits. A Tax Refund is the reimbursement of the excess taxes paid throughout the year.
No, Canada doesn’t tax money received from Brazil. However, in Brazil, a 0.38% IOF tax applies to transfers between your accounts, with higher rates for other transactions.
Capital gains from property sales are taxed at a lower rate than regular income. However, the sale of a principal residence may be exempt from income tax.
The T4 is equivalent to the statement of income received for salaried work. The T4A, on the other hand, is a statement for payments related to retirement, commissions, services rendered, profits, scholarships, and more.
Charitable Donations are contributions made to registered charities that qualify for a tax credit, reducing the amount of income tax owed.
Medical Expenses are eligible health-related costs that qualify for a tax credit, thereby lowering income tax payable. Common eligible expenses include medication, dental services, and most treatments prescribed by a doctor.
Union & Professional Dues are expenses associated with professional or union memberships, which reduce the taxable income used to calculate your income tax.
The RRSP (Registered Retirement Savings Plan) is a government-registered retirement savings plan. It allows taxpayers to allocate a portion of their salary towards retirement, reducing their taxable income.
This refers to the interest paid on student loans for university education, which qualifies for a tax credit, reducing the amount of income tax owed.
Tuition fees paid to most Canadian universities qualify for a tax credit, reducing income tax payable. For international students, this credit can significantly lower tax owed since tuition fees for non-residents tend to be high. After the academic year, the university provides a T2202 form to all students who paid tuition.
These are expenses incurred for services or individuals caring for children while the taxpayer is working. These costs qualify for a tax credit, reducing the income tax owed.
These are payments made for spousal support, which generally reduce taxable income, or child support, which does not.
This is a tax credit available to taxpayers who do not have a spouse but financially support a dependent.
This is a tax credit available to taxpayers who do not have a spouse but financially support a dependent.
Certain work-related expenses may reduce your taxable income. Typically, these are expenses that your employer requires you to pay.
This refers to pension income received from other countries by Canadian residents.
Certain expenses incurred when relocating for work or study may reduce taxable income. One eligibility criterion is that the move must bring you at least 40 km closer to your new place of work or education.
The T4RSP outlines withdrawals from an RRSP and the tax withheld, including withdrawals under the Home Buyer’s Plan or Lifelong Learning Plan.
The CRA is Canada’s federal tax authority, responsible for collecting and administering taxes and distributing tax benefits at the federal, provincial (except Quebec), and territorial levels.
This form is used to report rental income from properties.
This form is used to report business or self-employment income and expenses.
This form is for Canadian tax residents to report foreign property with a total value exceeding CAD $100,000. It must be submitted by the end of April.
This form is used to disclose ownership of foreign corporations or trusts with a total value exceeding CAD $100,000.
In Canada, you can choose from three main structures: corporation, partnership, or sole proprietorship. Each offers different tax and liability benefits.
The process involves selecting a business structure, naming your business, registering at the provincial or federal level, and obtaining the necessary business and tax numbers.
Businesses in Canada pay Corporate Income Tax, GST/HST (Goods and Services Tax/Harmonized Sales Tax), and Payroll Tax if they have employees.
It depends on the scope of your business. Federal registration allows you to operate across all provinces, while provincial registration limits your business to that specific jurisdiction.
The registration process can take from a few days to a few weeks, depending on the complexity of the business and the province.
Businesses can deduct operational expenses such as rent, marketing, salaries, and even necessary equipment for business operations.
Corporations pay income tax on annual profits, with rates varying by province and corporation type (e.g., small businesses may receive a reduced rate).
You will need an approved business name, a physical address, identification of owners, and the necessary tax numbers for registration.
GST (Goods and Services Tax) and HST (Harmonized Sales Tax) are sales taxes applied in most provinces. Businesses earning more than $30,000 annually must register and charge GST/HST on goods and services.
A partnership doesn't pay tax directly. Instead, profits or losses are passed on to the partners, who report them on their personal tax returns.
A legal entity separate from its owners, offering limited liability and tax benefits.
A business where two or more individuals share profits, responsibilities, and tax obligations.
A person who works independently and is responsible for their own taxes and legal obligations.
A tax on the profits generated by a corporation. Rates vary by province and the size of the business.
Goods and Services Tax (GST) and Harmonized Sales Tax (HST) that businesses must collect and remit to the government.
A unique identifier issued by the CRA for each business, used to manage taxes and business programs.
An expense that can be subtracted from taxable income to reduce the amount of tax owed.
A tax businesses must pay on employee wages, including contributions to the CPP (Canada Pension Plan) and EI (Employment Insurance).
The process of registering a business in a specific province, allowing it to operate within that jurisdiction.
An annual document that corporations must submit to the CRA, detailing profits, expenses, and taxes owed.
We’re ready to assist you.
Português BR
English Canadá