Expert Tax Accountants in Niagara

Ontario charges land transfer tax on the value of the consideration, normally the purchase price, when the transfer is registered. The rates are graduated: each band of the price is taxed at its own rate, so the bill rises faster than the price. Toronto adds a second municipal land transfer tax on top. First-time buyers may claim a rebate, and buyers who are neither citizens nor permanent residents can face an extra non-resident charge. Run your actual price through the province's calculator before closing.

Divide the total by one plus the tax rate, then subtract that result from the total to get the tax. In Ontario at 13% HST divide by 1.13; in Nova Scotia at 14% from 1 April 2025 divide by 1.14; where only 5% GST applies divide by 1.05. Quebec is layered, because QST of 9.975% applies to the pre-GST price, giving a combined 14.975%, so divide by 1.14975 to reach the pre-tax amount.

Severance is employment income in the year you receive it, taxed at your marginal rate like salary. Your employer withholds tax at source using lump-sum withholding rates, which are often lower than your final rate, so a balance can come due at filing. A retiring allowance can sometimes be transferred directly to an RRSP, sheltering it until withdrawal. Legal fees to collect severance may be deductible. Check the CRA's retiring allowances guidance before signing.

Yes. Meals and drinks served in an Ontario restaurant are taxable at 13% HST, unlike basic groceries, which are zero-rated. Ontario also gives a point-of-sale rebate of the provincial part of the HST on qualifying prepared food and beverages sold under a set price, so those items end up carrying only the 5% federal portion. The CRA's point-of-sale rebate guidance lists the qualifying items and the current price limit.

Usually yes. The CRA assesses the return first, issues the notice of assessment, then releases any refund, so the notice appears in My Account at or just before the deposit. Sometimes the money lands a day or two ahead of a paper notice arriving in the mail. For a return filed online, expect about two weeks from filing to refund. My Account shows the assessment date and the deposit.

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.

Yes, where the underlying expense is deductible for the business. A tip on a client meal follows the meals and entertainment rule, so only a portion of the total, tip included, is deductible. A tip on a deductible taxi, delivery or hotel charge is deductible in full as part of that cost. Keep the receipt showing the amount and note the business purpose, since cash tips with no record are the first thing a reviewer removes.

Yes. Footwear is a taxable supply, so Ontario's 13% HST applies to adult shoes, and GST at 5% plus any provincial tax applies elsewhere. Children's footwear is treated differently in Ontario: a point-of-sale rebate removes the provincial part of the HST for children's shoes up to a specified size, leaving the 5% federal part. Retailers apply that rebate at the till. The CRA's point-of-sale rebate guidance sets out which sizes qualify.

Employment income is your gross pay before deductions. Box 14 of your T4 shows the full amount your employer paid you, while income tax, CPP and EI withheld appear in separate boxes rather than being subtracted from it. You report the gross figure on your T1, and the tax withheld is then credited against the tax calculated on your return, which is why the same withholding appears again further down.

You stay responsible. The CRA assesses penalties and interest against the taxpayer, not the preparer. File as soon as possible to stop the penalty growing, then ask the CRA to cancel or waive the penalties and interest with a taxpayer relief request on form RC4288, explaining what happened. Relief is discretionary and is refused more often where the taxpayer never followed up on the missed deadline. Recovering anything from the preparer is a separate matter between you and them.

HST applies only in Ontario at 13%, Nova Scotia at 14% since 1 April 2025, and New Brunswick, Newfoundland and Labrador and Prince Edward Island at 15%. Everywhere else the federal GST of 5% applies on its own or beside a separate provincial tax: British Columbia PST 7%, Saskatchewan 6%, Manitoba RST 7%, and Quebec QST 9.975% charged on the pre-GST price. Alberta and the three territories charge GST only.

T4 slips must be filed with the CRA and given to employees by the last day of February following the calendar year the slips cover. Where that day falls on a weekend or a public holiday, the next business day applies. Filing late brings a penalty that grows with the number of slips and how late they are. An employee who never receives a slip can usually view it in CRA My Account.