Expert Tax Accountants in Beaumont

For the 2025 tax year the filing and payment deadline is 30 April 2026. If you or your spouse were self-employed, the filing deadline moves to 15 June 2026, but any balance owing is still due 30 April 2026. Interest starts the day after the payment deadline, and a late-filing penalty applies on top when a return with a balance owing is filed late. File on time even with nothing owing, because income-tested benefits are recalculated from the filed return.

CRA online filing for 2025 returns opened 23 February 2026 and closes 29 January 2027. Most people file between late February and the 30 April 2026 deadline, and that stretch is what tax season refers to. You can gather documents and prepare a return earlier, but it cannot be sent electronically before the system opens. Employment and investment slips such as T4 and T5 are issued by payers early in the year, and the CRA's Auto-fill service can pull the ones it already holds once you have set up My Account.

Multiply the pre-tax price by the rate for the province of supply. On a $100 purchase in 2026 that is $13.00 in Ontario (13%), $14.00 in Nova Scotia (14%), and $15.00 in New Brunswick, Newfoundland and Labrador or Prince Edward Island (15%). In the non-participating provinces and the three territories only the 5% GST applies, so $5.00, plus any provincial sales tax billed separately.

Multiply the assessed value of the property by the tax rate for its property class. Assessment is set by a provincial assessment authority on its own cycle and increases are often phased in, so the value lags the market. The rate is set each year by the municipality out of its budget, with an education portion added by the province. Both figures appear on your notice, which is why identical homes in different municipalities carry different bills.

Non-taxable income is money you receive that never enters taxable income. Common examples are lottery and most gambling winnings, gifts and inheritances, growth and withdrawals inside a TFSA, the GST/HST credit and Canada child benefit, most life insurance death benefits, and child support under current-rule agreements. A few amounts are reported and then deducted, such as workers' compensation and social assistance, because they still affect benefit calculations, so report anything that arrives on a slip even when no tax results.

Your refund is the tax already withheld or paid by instalments minus the tax you actually owe after credits and deductions, so the amount depends entirely on your own numbers - there is no standard figure. Timing is more predictable: the CRA aims to process an online return in about two weeks, and up to 16 weeks for a non-resident return. Direct deposit is faster than a cheque, and amounts owing to government can be offset.

Most municipalities let you spread the bill over several instalments or a pre-authorized monthly withdrawal instead of two lump sums, and many lenders will collect it with the mortgage payment and remit it for you. Several provinces and municipalities also run deferral programs for seniors, people with disabilities, or lower-income owners, with the deferred amount plus interest repaid when the property is sold. Contact the municipal tax office before a payment is missed.

A municipal accommodation tax, often called a hotel or occupancy tax, is a local levy on short-term accommodation charged by the municipality rather than by the CRA. Ontario municipalities are permitted to impose one, and each city or town sets its own rate, exemptions and remittance rules in its bylaw. It is separate from GST/HST, which still applies to the room charge at 13% in Ontario in 2026. Confirm the current rate with the municipality itself.

No. In Canada severance, pay in lieu of notice and a retiring allowance are fully taxable in the year you receive them. There is no tax-free slice of a redundancy payment the way some other countries allow, and tax is withheld before payment. A direct transfer to an RRSP is available only for older years of service under a narrow rule, so your ordinary RRSP room is usually the only shelter. Have settlement wording reviewed before you sign.

Total income is measured before tax. On a T1 it is the sum of your income sources for the year, such as employment income from your T4, self-employment, investment, and pension amounts, added up before deductions and before any tax withheld. Tax withheld at source is a payment toward your final bill, not a reduction in income. Deductions take total income down to net income, and further deductions give taxable income, which the rates apply to.

Yes, and it is usually worth doing. With no income you generally owe nothing, but filing is how the CRA works out the GST/HST credit, provincial credits and the Canada child benefit, and how unused tuition amounts carry forward. Report zero income on the T1 and claim what you qualify for. Benefit payments pause when a return is missing, so file even for a year with no earnings at all.

TRACS is Alberta's Tax and Revenue Administration Client Self-Service portal. Corporations and other filers use it to submit and view Alberta provincial returns, make payments, check balances and authorise representatives. It matters because Alberta does not have the CRA administer its corporate income tax: an Alberta corporation files a federal T2 with the CRA and a separate Alberta corporate return with the province through TRACS. Quebec runs a comparable system.