Expert Tax Accountants in Brampton

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%.

Canada has no joint return. Each spouse or common-law partner files a separate T1, and there is no option to file as a couple. You must still report your marital status and your partner's net income on your own return, because benefits and several credits are worked out on combined family income. An inaccurate partner figure is a common cause of benefit reassessments later, so prepare the two returns together even though they remain separate filings.

Ontario families receive the federal Canada Child Benefit plus the Ontario Child Benefit, and the CRA pays both together in one monthly deposit. Both are income tested, so entitlement falls as family adjusted net income rises, and both are recalculated every July from the prior year return. The provincial portion is set by Ontario and the federal portion by Ottawa, so your deposit changes when either programme is adjusted. Both spouses must file returns to keep payments running.

Rent from an Ontario property is taxed the same way as anywhere else in Canada: you report gross rent, deduct allowable expenses, and pay tax on the net amount at your combined federal and Ontario rates. Residential rent charged to a tenant carries no HST, though commercial rent generally does at 13%. Ontario landlords also cannot deduct the cost of the building itself, only capital cost allowance, which can affect a later sale.

In your bank's bill payment list, search Canada Revenue Agency and pick the payee that matches what you are paying: individual tax owing for a year, tax instalments, GST/HST, or payroll source deductions. The account number is your social insurance number for personal tax, or your fifteen-character business number account for business payments. Choosing the wrong payee is the usual reason a payment sits unapplied. My Payment and pre-authorised debit avoid the choice.

The realistic options are CRA-certified software you run yourself, a seasonal walk-in preparer, a free volunteer clinic if your income is modest and the return is simple, or an accounting firm. A firm earns its fee once there is self-employment, rental, investment or cross-border income, or a CRA letter to answer. We agree the fee before work starts, and you pay after the service. The first 15-minute consultation is free.

A bed tax is the informal name for a municipal or provincial tax on short-term accommodation, charged on a hotel, motel or short-term rental night. Municipalities in Ontario, Alberta, British Columbia and elsewhere levy it under their own legislation, usually as a percentage of the room charge, and rates and names differ by city. GST/HST applies on top. Operators collect and remit it to the city or province, not to the CRA. Check your municipality's bylaw for the current rate.

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.

For the 2025 tax year the filing and payment deadline is 30 April 2026. If you or your spouse were self-employed, filing moves to 15 June 2026, but any balance is still due 30 April 2026. Online filing for 2025 opened 23 February 2026 and closes 29 January 2027. You can still file after the deadline, and you should, though interest and a late-filing penalty apply once you owe.

Start with the notice itself and match each line to your slips, to confirm the error is the CRA's and not a slip you missed. Straightforward corrections can be handled by phone or through change my return in My Account. If you disagree with the assessment itself, file a notice of objection by the deadline printed on the notice. Service problems, such as wrong information or long delays, go to the CRA's service feedback process instead.

Property tax in Ontario is an annual amount, so a monthly figure is only that amount spread over your payment plan. The annual bill is your MPAC assessed value multiplied by the rate your municipal council sets, plus the provincial education rate, which is why two identical homes in different municipalities pay different amounts. Read the total off your last final bill and divide it, or look up the current rate on your municipality's website.