Expert Tax Accountants in Prince Edward County

Income tax starts once taxable income passes the basic personal amount, and a separate provincial or territorial amount applies on top, so the break-even point shifts every year with indexation and differs by where you live. Look up the current amounts on the CRA site or in the year's return package. Credits for tuition, disability, pension income or dependants push the point higher. Filing can still be worthwhile or required with no tax owing, for benefits and credits.

Personal income tax deadlines are federal, so Ontario residents follow the same dates as everyone else: 30 April 2026 for the 2025 return and any balance owing, and 15 June 2026 to file if you are self-employed, with payment still due 30 April 2026. Property tax is a separate matter, set and billed by your municipality on its own instalment schedule, so check your city or town for those dates.

The top combined federal and Ontario marginal rate on ordinary income and interest is 53.53% for 2026, reached on taxable income above $258,482. It is built from the 33% federal top rate, Ontario's top rate of 13.16% on taxable income over $220,000, and Ontario's surtax, which adds 20% and then a further 36% to the Ontario tax itself. Capital gains and eligible dividends are taxed at lower effective rates.

Ontario auto insurance premiums carry no HST, because insurance is an exempt financial service rather than a taxable supply. Ontario has no PST; it does levy its own retail sales tax on certain premiums, mainly group life and health plans and some benefit-plan contributions, and automobile insurance premiums are not among them. That premium tax is not recoverable the way an input tax credit is. Confirm current details on the Ontario Ministry of Finance insurance premium page.

A Canadian business can face corporate income tax federally and provincially, GST/HST or provincial sales tax on what it sells, payroll withholding with employer CPP and EI, property tax on premises it owns, and payroll or health levies in some provinces. An unincorporated business reports its profit on a T2125 with the owner's T1 instead of paying corporate tax. Which ones apply depends on structure, where you operate, and whether you have employees.

Because GST/HST follows the place of supply, not the seller's address. For goods, the rate is set by the province they are delivered to; for most services, by the customer's address on file. So an Ontario business billing Halifax charges 14% in 2026, Moncton 15%, and Calgary 5%. Getting it wrong means under-collecting or over-collecting, and the Canada Revenue Agency assesses any shortfall against the seller.

Usually yes. A delivery charge added to a sale generally takes the same treatment as the goods being shipped, so shipping on taxable goods is taxable and shipping on zero-rated goods is not. The rate follows the province where the goods are delivered. Freight transportation bought from a carrier has its own rules and interprovincial or international legs can be zero-rated, so check the CRA's freight transportation guidance before billing tax on it.

Tolls for the use of a road or bridge are not charged GST/HST, so the toll portion of a 407 statement carries no tax. Other charges on the same statement can be taxable, including transponder rental, account and administration fees, and the statement itemises any tax that was applied. A business claiming an input tax credit can only claim tax actually shown on the invoice, so read the statement rather than estimating.

Employers must issue T4 slips for the previous calendar year by the CRA slip filing deadline in the first months of the following year; canada.ca gives the exact date. Many post them to a payroll portal earlier, and copies appear in CRA My Account once the employer filing is processed, which is what feeds Auto-fill my return. If no slip arrives, ask the employer, then report the income from your pay stubs, since the filing deadline of 30 April 2026 for 2025 returns still stands.

No. The fuel charge applies to fuels, not tobacco. Cigarettes carry federal excise duty, a provincial or territorial tobacco tax, and GST or HST on the shelf price, which is why tax makes up most of what you pay. Duty and tobacco tax rates move with budgets and some federal rates are adjusted annually, so check the CRA excise duty rates page and your province's tobacco tax page rather than an older figure.

Not every dollar counts. The medical expense credit applies only to eligible expenses above a threshold, set as the lesser of a fixed percentage of your net income or a flat dollar amount the CRA indexes each year, so a lower income means a lower threshold. What clears the threshold becomes a non-refundable credit rather than a refund of the cost. You can pick any twelve-month period ending in the tax year and pool the family's receipts.

Ottawa bills property tax twice a year: an interim bill early in the year, based on a share of the previous year's taxes, and a final bill once the annual rates are set. Each carries its own due date, and pre-authorised payment plans spread the amounts across the year instead. Confirm your dates on the bill itself or the City of Ottawa property tax pages, since they shift each year, and expect municipal interest on anything paid late.