Expert Tax Accountants in Port Colborne

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.

Your refund is the tax already withheld or paid by instalments minus the tax you actually owe after credits and deductions, so the amount depends entirely on your own numbers - there is no standard figure. Timing is more predictable: the CRA aims to process an online return in about two weeks, and up to 16 weeks for a non-resident return. Direct deposit is faster than a cheque, and amounts owing to government can be offset.

Yes. A Toronto buyer pays Ontario's provincial land transfer tax and the City of Toronto's municipal land transfer tax on the same purchase. Up to $2,000,000 the municipal bands mirror the province: 0.5% on the first $55,000, 1% to $250,000, 1.5% to $400,000, then 2%. That roughly doubles the bill, to about $24,950 on an $800,000 home in 2026. Both are due when the transfer is registered.

Yes. In Canada the Income Tax Act requires residents to report their worldwide income and pay tax on it, and the Excise Tax Act does the same for GST/HST. Filing is mandatory when you owe tax or when the CRA asks for a return; self-assessment means you calculate the amount yourself, not that paying is optional. Arguments that no law compels payment have failed in Canadian courts and lead to penalties, interest and collection action.

Two different things get called an exemption. Exempt supplies, such as most residential rent, many health and dental services and most financial services, carry no GST/HST and the supplier cannot claim input tax credits on related costs. Zero-rated supplies are taxed at 0% and the supplier still recovers input tax credits. Separately, a small supplier with taxable revenue at or under $30,000 for 2026 need not register or charge tax at all.

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.

Canada does not use tax classes or tax codes the way some other countries do. Your income tax comes from graduated brackets, with federal rates for 2026 running from 14% up to 33% and separate provincial brackets on top, and from the credits you claim on the personal tax credits return you give your employer. In a business setting, tax class usually means a capital cost allowance class, which sets the rate at which you depreciate an asset.

Yes. Taxi and limousine fares are taxable services, so HST at 13% applies in Ontario and appears on the meter total or receipt. Ride-share trips are treated the same way, and the driver or platform is responsible for collecting and remitting the tax. Drivers who operate a taxi or limousine business must register for GST/HST regardless of revenue: the $30,000 small-supplier threshold does not shelter them. See the CRA's guidance for taxi and ride-sharing drivers.

Start with the notice that created the balance. If a slip or claim was simply missed, request a change to the return online in CRA My Account or on a T1-ADJ, which is quicker than a formal dispute. To challenge the CRA's position, file a notice of objection by the deadline shown on your notice of assessment, with reasons and documents. Relief from penalties and interest is a separate request on form RC4288. Interest keeps running, so arrange payment meanwhile.

Property tax on a new build starts once the property is assessed as complete and occupiable, not at closing. Until then you are billed on the land alone, and a supplementary or omitted assessment later covers the building, often arriving months afterwards and back-dated to the occupancy or completion date, so budget for a catch-up bill. Separately, a newly built home is generally subject to GST or HST, with a new housing rebate available in some cases.

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.

Pool the receipts and claim them on one return. The donation credit pays a lower rate on an initial band of giving each year and a higher rate above that band, so combining both partners' receipts moves more of the total into the higher-rate band. Either spouse may claim donations made by the other. Where the credit cannot be used in full this year, unclaimed receipts can be carried forward to a later year rather than wasted.