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Taxation in Canada

Canada’s system is for the most part publicly funded, thus it is essential for the residents to pay their due taxes as per the province’s stated rates. As a newcomer in the country, you too are required to pay different types of taxes, including Income Tax, CPP (Canadian Pension Plan), and EI (Employer Insurance).

Here is a quick guide on filing your taxes in Canada.

Paying taxes is mandatory for all citizens. It benefits credits to make one further eligible for working income tax benefit, Canada child benefit, amongst other tax credits.

The tax returns are due usually on or before the 30th of April subsequently on the closing of the financial year. For self-employed individuals as well as their spouses, they can file tax returns on or before the 15 of June.

Steps to File Your Income Tax Return

The first-timers are required to file their tax return on paper. These forms, known as T1, can be collected from any Canada Post office. These are further mailed directly to the Canada Revenue Agency (CRA). The address of the CRA depends on the individual’s place of residence. Read the steps below to know more:

  • Collate all the relevant documents.
  • Select the software to fill out the return.
  • Inform the CRA of any major life changes, if any.
  • Report the income.
  • Check for deductions, expenses, and tax credits.
  • Mail the tax return to the CRA.
  • Keep your supporting documentation

​If the taxpayer is entitled to any benefits, these will be refunded in either 8 days or 8 weeks as per the filing medium.

If you are being perplexed about the tax procedures of the new country, then hire our qualified consultants now. ImmigCanada’s professionals are well-versed with the Canadian tax system and will file your taxes conforming to the province’s norms while ensuring that as per your income you are provided with due tax benefits.