Expert Tax Accountants in Edmundston

Property tax is billed by your municipality, not the CRA, so payment goes to the city or town that issued the bill. Most municipalities accept online or telephone banking once you add the property tax roll number as a payee, pre-authorised instalment plans, cheque, or payment at your bank. If your mortgage lender collects tax with your mortgage payment, the lender remits it for you. Condominium owners get their own bill, separate from monthly condo fees.

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.

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.

Each municipality sets its own due dates, so they differ from city to city and no national rule applies. Most issue an interim bill early in the year and a final bill once the budget and rates are set, with each bill split into instalments. Many municipalities also offer monthly pre-authorised payment plans. Late amounts attract penalty and interest charged monthly on the balance, so confirm the dates printed on your own bill.

It is the line on the T1 where you pay back part of your Employment Insurance benefits or Old Age Security pension because your income for the year was above the threshold set for that year. The return works the amount out from your slips and your net income, then adds it to what you owe. For Old Age Security, the CRA normally recovers it through reduced monthly payments over the following year. Check the CRA's threshold for the year you are filing.

New Brunswick charges 15% HST, which combines the 5% federal GST with a 10% provincial part in a single tax collected at the till. Most goods and services carry it, with the familiar exceptions such as basic groceries and prescription drugs, which are zero-rated or exempt. A business registered for GST/HST charges 15% on its New Brunswick sales and claims input tax credits on the tax it pays on purchases.

Tax legislation is the written law that imposes and administers tax: federally the Income Tax Act and the Excise Tax Act, plus each province's own statutes and the municipal bylaws behind property tax. A change usually begins as a budget announcement, is drafted into a bill, passes Parliament and takes effect on royal assent. Regulations and CRA guidance sit beneath the statutes and explain administration without replacing them. Some proposals are administered before they pass, and a few never do.

It can, though not automatically. Rent is taxable income, and against it you deduct mortgage interest (not principal), property tax, insurance, utilities you pay, repairs, condo fees, advertising and management costs. A genuine rental loss can reduce your other income. Improvements are capitalised and written off over time rather than deducted at once, and claiming that write-off usually increases the tax when you eventually sell.

There is no single national start date. Each participating province harmonised its own sales tax with the GST at a different time, and some later changed course, one province reversing harmonisation entirely and returning to a separate provincial sales tax. The Atlantic provinces harmonised first and Ontario followed years afterwards. Because the answer depends on the province, check the CRA page on GST/HST rates and participating provinces, which sets out the rate history for each.

Yes. Cash from odd jobs, side gigs, handyman work, tutoring or online platforms is self-employment income and is reported on a T2125 with the personal return, even with no slip and no business name. You deduct the related costs, so tax applies to the profit. Watch two thresholds that follow: GST/HST registration once taxable revenue passes $30,000 over four consecutive calendar quarters, and CPP contributions on net self-employment earnings.

Property tax funds municipal services: roads, water and waste collection, transit, fire and police, parks, libraries and local administration. In most provinces the bill also carries a separate education portion collected for the province's school system. None of it goes to the CRA, and it is not income tax. Property tax on the home you live in is not deductible on your T1, while property tax on a rental or a business property is a deductible expense.

Child care costs are a deduction, not a credit, so there is no fixed percentage refunded. The eligible amount comes off your income, and the saving equals your marginal tax rate on what you deduct, which is why it is worth more to a higher earner. Annual limits apply per child and are smaller for older children, and the claim generally has to go on the lower-income spouse's return. Keep receipts showing the provider's name and number.