You typically need documents such as T4 slips for employment income, T5 slips for investment income, receipts for deductible expenses like charitable donations and medical expenses, and any other relevant financial records.
The tax filing deadline for most individuals in Canada is April 30th. However, if you or your spouse are self-employed, the deadline is June 15th, but any taxes owed are still due by April 30th.
Filing your taxes online with Chat Filer Inc. is simple and convenient. Our software provides a user-friendly interface that guides you through the process step-by-step. Simply create an account, input your financial information, and Chat Filer will automatically generate your tax forms. You can then securely submit your return directly to the Canada Revenue Agency (CRA) using our integrated NETFILE service. With Chat Filer, you can file your taxes accurately and efficiently from the comfort of your own home.
Similar to the US, a tax deduction in Canada reduces your taxable income, while a tax credit directly reduces the amount of tax you owe.
In Canada, you can deduct expenses such as union dues, certain employment expenses, childcare expenses, medical expenses, and charitable donations, among others. It's essential to refer to CRA guidelines or consult with a tax professional for specific deductions.
The basic personal amount is the amount of income you can earn without paying federal income tax. The eligibility and amount vary based on factors such as your province or territory of residence and your income level.
You generally need to file taxes in Canada if you owe taxes, want to claim a refund, or are requested to file by the CRA. The specific requirements depend on factors such as your income, residency status, and age.
Yes, you can claim dependents such as children or eligible relatives on your Canadian tax return, which may qualify you for certain tax benefits such as the Canada Child Benefit or the Child Care Expense Deduction.
The Canada Child Benefit is a tax-free monthly payment provided by the Government of Canada to eligible families to help with the cost of raising children under 18 years of age. Eligibility is based on factors such as your family income and the number of children you have.
You can track the status of your tax refund in Canada using the CRA's My Account service, the MyCRA mobile app, or by calling the CRA's Tax Information Phone Service (TIPS).