Expert Tax Accountants in Medicine Hat

File a T1 return for the year, sending it electronically with CRA-certified software or mailing a paper return. Gather your slips and receipts first and check them against the ones listed in My Account. For the 2025 tax year the filing and payment deadline was 30 April 2026, or 15 June 2026 to file if you or your spouse were self-employed, with payment still due 30 April 2026. CRA online filing for 2025 returns closes 29 January 2027.

Canadian income tax is built up in layers. You total your income for the year, subtract the deductions you qualify for to arrive at taxable income, then apply the federal brackets and your province's brackets to that figure. Each bracket rate applies only to the income sitting inside it, so earning more never retaxes the dollars below. Non-refundable credits, starting with the basic personal amount, come off the tax afterwards. Look up the CRA bracket table for the tax year you are filing.

Yes, the CRA does telephone people, usually about a balance owing, a missing return, an audit or to verify information, and calls can come from many different numbers, so caller ID proves nothing either way. A real agent never demands payment by gift card, cryptocurrency or e-transfer, never threatens immediate arrest or deportation, and never asks for a password. If a call feels wrong, hang up, check your balance and mail in My Account, then call back using a number from canada.ca.

Yes. Tips and gratuities are income and must be reported, whether they reach you through your employer or straight from the customer. Controlled tips your employer distributes appear on your T4 with payroll deductions already taken. Direct and cash tips usually appear on no slip at all, so you report them yourself on your T1 from your own records. Keep a daily log, because the CRA can estimate unreported tip income.

The route depends on the structure. A sole proprietor or partner reports business income on Form T2125 and files it with the personal T1 return; for the 2025 year the self-employed filing deadline was 15 June 2026, while any balance owing was due 30 April 2026. An incorporated business files a separate T2 corporate return for each fiscal year, due six months after that year end, on top of whatever the owner reports personally.

Yes. Canada has no floor below which income stops being reportable: every dollar of employment, self-employment, tip, gig, interest and foreign income goes on the return, whether or not a slip was issued. What a small total does change is whether tax is payable, because credits such as the federal basic personal amount ($16,452 for 2026, tapering to $14,829 at higher income) can reduce the balance to nil. Filing anyway protects benefits and builds RRSP room.

Municipal property tax is billed by your city and is separate from income tax. The bill is your assessed value multiplied by the local rate, so the lever you control is the assessment: read your assessment notice, compare it against similar nearby properties, and file a request for reconsideration or an appeal with your provincial assessment authority inside its deadline. Also check local programs, such as senior, low-income or disability deferrals and rebates, and confirm the property class is right.

Most of your options are claims made on the return rather than expenses. Contribute to an RRSP to cut taxable income, use a TFSA for tax-free growth, and open an FHSA if you are saving for a first home. Claim tuition, eligible medical expenses, childcare, donations, and union or professional dues where they apply. Employment expenses are deductible only when your employer certifies them. You can also ask the CRA to reduce the tax withheld from your pay.

TPS is simply the French name for the GST, taxe sur les produits et services. It is the same federal tax at the same rate, 5% for 2025 and 2026. In Quebec you will also see TVQ, the French name for QST, at 9.975% applied to the pre-GST price, giving a combined 14.975%. Quebec receipts usually show both lines separately, and Revenu Quebec administers the returns for both taxes there.

For the 2025 tax year the payment deadline is 30 April 2026, and that date applies even to self-employed filers who have until 15 June 2026 to file the return itself. Pay by online banking, the CRA's payment service, pre-authorised debit or through a financial institution. Corporations run on their own fiscal year: the T2 is due six months after year end, with the balance due two months after year end, or three months for an eligible CCPC claiming the small business deduction.

Generally no. PST in British Columbia at 7%, Saskatchewan at 6% and Manitoba's RST at 7% are provincial taxes with no general refund route for a visitor or online buyer from Alberta, and Alberta charges no PST of its own. Narrow refunds exist in each province for specific situations and are claimed from that province, not the CRA. A business can recover GST through input tax credits, but provincial sales tax stays a cost.

Online sellers charge the sales tax of the province where the goods or service are delivered, not where the business sits. For 2026 that means GST 5% alone in Alberta and the territories, HST 13% in Ontario, 15% in New Brunswick, Newfoundland and Labrador and Prince Edward Island, and 14% in Nova Scotia, down from 15% on 1 April 2025. British Columbia, Saskatchewan, Manitoba and Quebec add PST, RST or QST on top of the GST. Large foreign platforms and digital subscription providers must register and charge tax too.