Expert Tax Accountants in Port Moody

Several NETFILE certified programs are free to use for straightforward returns, and the CRA publishes the certified list each filing season. If your income is modest and your return is simple, a free volunteer tax clinic can prepare and file it for you. Some people also receive a CRA invitation to file through a simplified phone or digital service. Free tools cover most employment and pension returns; self-employment, rental or foreign income usually needs more.

Yes, tax is withheld from Employment Insurance benefits before the money reaches you, but the amount held back is often less than you end up owing. It is worked out on the benefit alone and ignores the employment or self-employment income you earned in the rest of the year, so a balance is common at filing. You can ask Service Canada to withhold more. Report the full benefit on your T1.

Often yes. GST at 5% generally applies when vacant land is sold in the course of a business or an adventure in the nature of trade, including subdivided or development land. Bare land sold by an individual from personal use, or severed from a principal residence in limited circumstances, can be exempt. BC's 7% PST does not apply to real property. Get the status confirmed in writing before closing, since the seller usually bears the assessment.

Your obligations are to report all income, file on time, pay what you owe, and keep records that support both. For an individual that means a T1 each year, due 30 April 2026 for the 2025 tax year. Business owners add GST/HST returns once registered, payroll remittances if they have staff, a T2 for a corporation, and instalments where required. Keep records six years from the end of the last tax year they relate to.

No. While your taxable revenue stays under the $30,000 small-supplier threshold for 2026, unchanged from 2025, you are not required to register for GST/HST or charge it. The threshold is tested over four consecutive calendar quarters or within a single quarter, and crossing it in one quarter ends small-supplier status on the sale that takes you over. You may still register voluntarily so you can claim input tax credits on your costs.

No PST. British Columbia's PST does not apply to food for human consumption, and that exemption covers candy and confectionery, so a chocolate bar carries no 7% PST. GST is a separate question: candy and snack foods are not basic groceries for GST purposes, so the 5% GST does apply. Sweetened carbonated drinks are the notable exception on the provincial side and do attract PST. The province's PST bulletin on food and beverages sets out the lines.

The CRA publishes a benefit payment calendar each year. The Canada child benefit and CPP and OAS pensions are paid monthly, while the GST/HST credit is paid quarterly. Direct deposit lands on the scheduled day; a cheque takes longer to arrive. Check the CRA's benefit payment dates page for the exact days, and My Account for your own next payment. Payments stop if your return is not filed, so file every year even with no income.

Richmond has no municipal empty homes tax of its own, that levy is Vancouver's. Richmond property is instead inside British Columbia's provincial speculation and vacancy tax area, so owners there receive an annual declaration and pay if the home sits empty without an exemption. Rates and exemptions change, so confirm the current year on the province's speculation and vacancy tax pages before you rely on a figure.

No. TFSA withdrawals are not taxable and are not reported as income, however much the account has earned, and that is still true for 2026. The amount you take out is added back to your contribution room, but only on 1 January of the following year. Putting it back in the same calendar year without room to cover it creates an excess taxed at 1% per month. Withdrawals do not affect income-tested benefits.

Restaurant meals in British Columbia carry GST at 5%. BC PST is not charged on food or non-alcoholic drinks served in a restaurant, so most of the bill shows only the federal tax. PST does apply to alcoholic drinks and to sweetened carbonated beverages under their own provincial rates, which is why a bill including wine or pop shows a second tax line. The BC bulletin on restaurants and liquor sellers sets out each category.

The owner. Municipalities bill the registered owner, so the landlord is responsible and any arrears become a charge against the property rather than the tenant. In practice residential rent is set to cover it, so tenants fund it indirectly. Commercial leases work differently: a net lease commonly requires the tenant to reimburse the property tax directly. For a landlord, property tax on a rental property is a deductible expense against the rental income it relates to.

Students cannot deduct residence fees or apartment rent from income, and rent earns no federal credit. What a student can claim is tuition, the interest paid on an eligible government student loan, and moving costs in some situations. Where the province pays a rent-based benefit, Ontario and Manitoba among them, the rent goes on that provincial schedule instead. Filing a return with little or no income still preserves unused tuition amounts and keeps benefit payments flowing.