Expert Tax Accountants in Belleville

Your employer withholds federal and Ontario income tax using the pay period, your annual rate of pay and the claim codes from the TD1 forms you signed, then adds CPP contributions and EI premiums until the yearly maximums are reached. Because the tax portion follows brackets, the percentage held back rises as pay rises. For an exact figure, run your gross pay through the CRA's Payroll Deductions Online Calculator, which applies the current year's tables.

Ontario charges its own graduated personal rates, plus a surtax and the Ontario Health Premium, on top of federal tax, so the combined marginal rate climbs with income. For corporations in 2026 the Ontario small business rate is 3.2%, falling to 2.2% effective 1 July 2026, which gives a combined federal and provincial small business rate of 12.2% falling to 11.2%; a 31 December 2026 year end blends to roughly 11.7%. The Ontario combined general rate for 2026 is 26.5%.

Ontario applies 13% HST to mobile service, so a $60 plan bills at $67.80. The tax covers the monthly fee, overage, roaming within Canada, device instalment charges and most add-ons, and a handset bought outright carries 13% as well. Regulatory and service fees on the invoice are generally taxed the same way. A business registered for GST/HST can claim input tax credits on the share of the bill used for commercial activity, so keep the itemised invoice.

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.

Yes. Rent from a room in your home is taxable and is reported as rental income on your T1. You may deduct a reasonable share of expenses such as utilities, insurance, mortgage interest, property tax and repairs, prorated by the space rented and the part of the year it was rented. Claiming capital cost allowance on the building can put part of your principal residence exemption at risk, so most homeowners do not. Keep receipts six years.

Wait until the original return is assessed, then request the change through My Account or by mailing a T1-ADJ with the supporting slips and receipts. Online requests are handled faster than mailed ones, and anything needing a manual review of documents takes longer again. The CRA does not publish a fixed turnaround, so track the request in My Account rather than filing a second return. A reassessment notice confirms the outcome.

A voluntary tip you choose to leave is not subject to HST, because it is not part of the price of the meal. A mandatory service charge the restaurant adds to the bill, such as the automatic gratuity on a large table, forms part of what you pay for the meal, so Ontario's 13% HST applies to it. Check the bill: tax belongs on the food and any compulsory charge, not on a tip you decided yourself.

Interest starts the day after your balance-due date and compounds daily until you pay. For the 2025 tax year, a personal balance was due 30 April 2026, so interest ran from 1 May 2026, including for self-employed filers whose return was not due until 15 June 2026. A corporation's balance is due two months after its year end, or three months for an eligible small-business corporation. The prescribed interest rate changes quarterly.

Employment and business income earned on a reserve by a registered Indian is exempt from income tax, while income earned off reserve is taxed like anyone else's, and filing is still worth doing to receive benefits. For sales tax, goods and services bought on a reserve or delivered there can be relieved of GST/HST, and Ontario gives point-of-sale relief on the provincial part of its 13% HST for eligible off-reserve purchases shown with status identification.

For an unincorporated business the 2025 return was due 15 June 2026 because of self-employment, but any balance owing had to be paid by 30 April 2026. For an incorporated business the T2 return is due six months after the fiscal year end, with the balance due two months after year end, or three months for an eligible Canadian-controlled private corporation claiming the small business deduction. GST/HST returns and payroll remittances run on their own separate schedules.

CRA My Account is the record for individuals: notices of assessment, balances, instalment reminders, RRSP and TFSA room, benefit payments and most slips your employer or bank filed, such as T4 and T5. Businesses use My Business Account for GST/HST and payroll accounts. Registration needs your social insurance number, date of birth and an amount from a recently assessed return. A representative you authorise can view the same information.

Filing is required whenever tax is owing, and retirees are usually better off filing even with nothing to pay. The return is what calculates the GST/HST credit, the Guaranteed Income Supplement, provincial credits and the age and pension amounts, and it is where pension income splitting is elected. Filing on time also keeps income-tested payments flowing without interruption. For the 2025 tax year the deadline was 30 April 2026.