How do I close or dissolve a corporation in Canada?

Property tax is an annual municipal levy on real estate, charged by the city or town where the property sits rather than by the CRA. The bill is the assessed value of the property multiplied by the tax rate the municipality sets each year, and it funds local services such as roads, waste collection, policing and the education portion the province adds. Assessed value is set by a provincial assessment authority, so it is not the price you paid.

There is no single rate. Federal personal income tax for 2026 runs through five brackets: 14%, then 20.5%, 26%, 29% and 33% on the highest band, and your province's brackets stack on top, so your combined marginal rate is the federal rate plus the provincial one. The 2026 federal basic personal amount is $16,452, tapering to $14,829 as net income rises from $181,440 to $258,482. Capital gains and Canadian dividends are taxed on a different basis.

Rent on your home is not deductible on a Canadian return. Two situations change that. Self-employed people, and employees who meet the work-space-in-the-home conditions, may claim the share of rent tied to the area used for work. Several provinces also run a property tax or rent based credit, applied for on the provincial schedule filed with your T1, where rent paid affects the amount. Keep receipts and your landlord's details either way.

A balance owing means the tax withheld or paid by instalments during the year came to less than the tax your return calculates. Common causes are two employers each withholding as though theirs was your only job, self-employment or gig income with nothing withheld, investment or rental income, an RRSP or RRIF withdrawal where only the base amount was held back, pension and OAS payments taken without deductions, or a benefit you have to repay.

No. Age creates no exemption. Income tax is withheld from a young worker’s pay in the usual way, though many earn less than the basic personal amount and recover the withheld tax by filing a return. EI premiums apply at any age. CPP contributions begin with the month after the worker turns 18, so no CPP comes off before then. Filing anyway is worth it, because earned income builds RRSP room for later.

Two different things get called an exemption. Exempt supplies, such as most residential rent, many health and dental services and most financial services, carry no GST/HST and the supplier cannot claim input tax credits on related costs. Zero-rated supplies are taxed at 0% and the supplier still recovers input tax credits. Separately, a small supplier with taxable revenue at or under $30,000 for 2026 need not register or charge tax at all.

GST at 5% applies to newspapers across Canada, because they are not zero-rated. Ontario gives a point-of-sale rebate for the provincial part of the HST on printed newspapers, so an Ontario purchase is effectively taxed at 5% rather than 13%. Digital subscriptions are taxable and the rebate does not reach them. A personal credit for digital news subscriptions existed for certain tax years, so check the CRA page for the years it covers before claiming it.

The address depends on where you live and on what you are sending, because the CRA splits the work across several tax centres. The current one is printed in the paper return package and listed on canada.ca under where to mail your return, and any letter from the CRA shows the centre holding your file. Reply to the address on that letter. Filing online removes the question and shortens the assessment time.