PERSONAL TAX

Canada levies personal income tax on the worldwide income of individuals resident in Canada and on certain types of Canadian-source income earned by non-resident individuals.

After the calendar year, Canadian residents file a T1 Tax and Benefit Return for individuals.

It is due April 30, or June 15 for self-employed individuals and their spouses, or common-law partners. It is important to note, however, that any balance owing is due on or before April 30. Outstanding balances remitted after April 30 may be subject to interest charges, regardless of whether the taxpayer's filing due date is April 30 or June 15.

We provide T1 (Personal tax) filing services throughout the year. If you are looking for personal accounting in Brampton, Mississauga and Etobicoke for help with a personal tax return? Ashwani Sood offers accurate & affordable tax preparation services for personal in Brampton, Mississauga and Etobicoke. Please contact us to discuss on this matter.

FAQS' - PERSONAL TAX

1. Why my tax refund is less than my colleague, earning same amount of income.

The tax calculations are done on individual to individual and considering family circumstances, RRSP contributions, Tuition fees credit and other claims/credits. These are different for each and every individual.

2. I made donations to Charitable Organization in India, can I claim them as donations?

No, only donations made to Canadian Charities and some of US are claimable

3. Can I claim for Utilities, mortgage interest?

No, claim for utilities, mortgage interest and other personal expenses are covered under Basic personal amount of $12,298 for year 2020, which everybody is eligible.

Utilities can be claimed as an expense in-proportion to portion of your house is rented.

4. I drive to work, can I claim Gas expense?

No, driving from home to work and back is not claimable. If you drive from your work for office purpose and your employer doesn’t reimburse you can claim it as employment expense, subject to a condition your employer gave you form T2200

5. My spouse is unemployed; can I claim child care expense?

No, child care expenses can only be claimed when both spouses are working or one of the spouse is in college for more than 4 weeks

6. I paid tuition fees, why I am not getting any refund?

Tuition fees credit is settled against income, so if you do not have any income the fees credit is carried forwarded to next year until the full tuition fees credit is settled. Therefore the year you have income and corresponding tax deducted, you will get tax refund.

7. I received call from CRA, saying I owe money and if not cleared immediately or else face arrest.

Beware, this is a fraud call, don’t pay any attention to it. CRA will never call to pay immediately and whatever amount you owe is stated on your NoA.