Expert Tax Accountants in Campbellton

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.

Online banking is the simplest route: add the CRA as a payee, select the account and tax year precisely, and pay from your chequing account. CRA My Payment takes debit card payments, and pre-authorised debit can be scheduled in My Account or My Business Account for a single amount or a run of instalments. Corporations and GST/HST registrants use the same channels under their business number. Keep the confirmation number and allow several days for the payment to post.

Pay through your bank's online banking by adding the CRA as a payee and choosing the right account and year, through My Payment with a debit card, by pre-authorised debit scheduled in My Account, by credit card through a third-party provider that charges its own fee, or at a bank counter with a remittance voucher. For 2025 personal returns the payment deadline was 30 April 2026, including for the self-employed, and interest runs daily on anything unpaid after that.

Medical costs give a non-refundable credit rather than a deduction. Eligible items include prescription drugs, dental work, eyeglasses and contact lenses, fees paid to medical practitioners authorised to practise, private health plan premiums, attendant care and travel for treatment unavailable locally. Over-the-counter products and most cosmetic procedures do not qualify. Only the portion above an income-based threshold counts, the claim period may end at any point in the tax year rather than following the calendar year, and pooling the family claim on one spouse usually helps.

You can file a Canadian personal return at no cost using CRA-certified free tax software, which sends the return through NETFILE. Volunteer clinics run by community organisations also prepare simple returns free of charge for people with modest income. Paper filing costs only postage. Free software suits straightforward employment and pension income; self-employment, rental or foreign property usually needs a preparer. CRA online filing for 2025 returns opened 23 February 2026 and closes 29 January 2027.

Yes, and it is usually worth doing. Filing with little or no income is how you claim the GST/HST credit, provincial and territorial credits and, if you have children, the Canada child benefit - these are based on an assessed return each year. Filing also carries forward tuition and other unused amounts, creates RRSP room from any earned income, and keeps your CRA record current for later years.

Your municipal assessment notice, or your province's assessment authority, shows the assessed value and usually separates land from buildings. That split matters for tax: land is not depreciable, so a rental or business property's cost has to be allocated between land and building before you claim capital cost allowance, and the allocation must be reasonable and documented. A purchase agreement, an appraisal or comparable land sales support it better than the assessment alone.

Land value normally comes from an appraisal, or from splitting a single purchase price between land and building on a reasonable basis such as an appraisal or the land-to-building ratio on the municipal assessment notice. The split matters because capital cost allowance can be claimed on the building but never on land, and each part carries its own cost for calculating a gain on sale. Keep the appraisal or assessment notice with your records to support the allocation.

Massage therapy is generally taxable rather than exempt. The health care exemption reaches a practitioner's service only where the profession is regulated widely enough to meet the test in the legislation, and massage therapy has not met it, so a therapist charges GST/HST once past the $30,000 small-supplier threshold that applies for 2026. Proposals to exempt it have been raised but not enacted. The offset is input tax credits on rent, table, linens and supplies.

The RESP lifetime contribution limit is $50,000 per beneficiary, unchanged since 2007 and still the figure for 2026, and there is no annual limit. Contributions are not deductible. If total contributions for one child go over $50,000, each subscriber pays tax of 1% per month on their share of the excess for every month it stays in a plan, so track deposits across every plan for that child.

Your purchase price does not set your property tax directly, but it becomes part of the sales evidence assessment authorities use to value comparable homes, so paying well above market can pull your assessment up at the next valuation. A private appraisal done for a mortgage or refinancing is not shared with the assessor and changes nothing on its own. The assessed value on your notice, times the municipal rate, is what drives the bill.

Not always, but filing every year is usually the better choice. A return is required when you owe tax, when the CRA asks for one, and in situations such as disposing of property or repaying certain benefits. Even with no tax payable, filing keeps benefit and credit payments flowing, builds RRSP room and records tuition amounts or capital losses you can carry forward. Personal returns for the 2025 tax year were due 30 April 2026.