Expert Tax Accountants in Dieppe

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.

Most tax saving comes from a short list of levers: contributing to an RRSP or a spousal RRSP, holding investments inside a TFSA, FHSA or RESP so growth is sheltered, claiming every deduction and credit you actually qualify for, and splitting income where the rules allow, such as pension income splitting. Business owners add expense timing and salary versus dividend planning. Order matters, so decide before year end rather than at filing time.

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.

There is no single percentage. Canada uses graduated brackets, so the rate climbs as income climbs and each rate applies only to the income falling inside its own bracket. Your total combines a federal bracket with your province's bracket and is then reduced by credits, which is why two people on the same salary in different provinces pay different amounts. The share withheld from a paycheque also covers CPP or QPP and EI. Check the CRA bracket table for the year concerned.

Sign in to My Account and open the sections for filed returns and notices, where past returns, notices of assessment, slips and carry-forward amounts can be viewed, printed or saved. Without online access, ask the CRA by phone or in writing at the tax centre shown on your notice, or ask whoever prepared the return for their copy. Keep your own records six years from the end of the last tax year they relate to.

Interest on a student loan gives a non-refundable tax credit, not a deduction, and only the interest counts: repaying principal claims nothing. The loan has to come from a federal or provincial government student loan program, so interest on a line of credit, a bank loan or money borrowed from family does not qualify. Interest you cannot use because you owe no tax may be carried forward and claimed in a later year instead of being lost.

The CRA charges compound daily interest on an unpaid balance from the day after the payment deadline until the balance is cleared. The charge uses the prescribed rate, which the CRA resets every calendar quarter, so it moves with market rates rather than staying fixed. Arrears interest is not deductible. Look up the current quarter on the CRA's prescribed interest rates page, and pay something against the balance to slow the daily charge.

For 2026 the lowest federal bracket rate falls to 14%, which cuts tax for anyone with taxable income, and the federal basic personal amount rises to $16,452, tapering at higher incomes. The capital gains inclusion rate stayed at one-half for 2025 and 2026 because the proposed increase was never enacted. Ontario's small business rate drops to 2.2% effective 1 July 2026, and Nova Scotia's HST fell to 14% on 1 April 2025. Provincial credits change separately.

Largely by self-assessment. Employers withhold income tax, CPP and EI from each pay and send it to the CRA; people with other income pay quarterly instalments; then everyone files a return that reconciles the year into a refund or a balance owing. Businesses collect GST/HST from customers and remit it on their own schedule. The CRA administers federal tax and most provincial income tax, while Quebec collects its own through Revenu Quebec.

Land valuation is the assessed value that a provincial or municipal assessment body assigns to a property, normally based on what it would have sold for on a set valuation date. Your municipality multiplies that assessment by its own tax rate to produce the property tax bill, so the valuation drives the bill rather than being a tax itself. Assessments can usually be appealed within a fixed window. Assessed value is not the cost figure used to work out a capital gain on sale.

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.

In most Canadian municipalities the property tax year is the calendar year, so the levy covers the whole of that year even when the bill arrives months later. Assessment runs on its own cycle: a provincial assessment authority values your property as of a fixed valuation date, and that value is then applied for one or more tax years. When a property changes hands mid-year, the lawyers adjust the tax between buyer and seller on closing.