Tax return (Canada)

A Canadian tax return consists of the reporting the sum of the previous years (January to December) taxable income, tax credits, and other information relating to those two items. The result of filing a return with the federal government can result in either a refund (money owed to the person or corporation filing the return), or an amount due to be paid. There is a penalty for not filing a tax return.[1]

Normally, Canadian individual tax returns for any specific year must be filed by April 30 of the following year. There is no provision for generally extending this deadline, but there are a few exceptions.

Canadian federal tax returns are filed with the Canada Revenue Agency (CRA).

In addition, the return plays a role in voter registration by including a checkbox asking if the signee if they are willing to have their personal contact information included on a national voter registry which is accessible by Elections Canada and its provincial equivalents.

Provincial returns

All provinces have their own Income Tax Acts, but most employ a system of Federal-Provincial agreements whereby the tax is collected by the Federal government. Only the Quebec provincial government collects its own personal income tax. Alberta, Ontario and Quebec all collect their own corporate income tax. Filing deadlines generally match those of the federal government. Quebec tax returns are filed with the Ministère du Revenu du Québec.

Who should file a Canadian tax return

Canadians who live abroad can sometimes continue filing a Canadian tax return, even if they are not required to do so. Three primary factors are used to determine a taxpayer’s tax residence: dwelling place (or places), spouse or common-law partner and dependants.[2]

Tax return software

There is various commercial software available to file tax returns. There is also non-commercial tax preparation software (freeware).

Tax returns may be filed online at no charge through a government service run by the CRA called NETFILE.

See also

References

  1. "Interest and penalties". Canada Revenue Agency. 11 April 2016.
  2. "Edwin and Elise Britton battle Canada Revenue Agency over $18K tax bill". cbc.ca. 28 November 2014.

External links

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