Tax Information
* You have to pay tax for any year.
* Canada Revenue Agency sent you a request to file a return.
* You and your spouse or common-law partner elected to split pension income for any tax years.
* You received Working Income Tax Benefit (WITB) advance payments or you want to apply for WITB advance payments.
* You disposed of capital property (for example, if you sold real estate or shares) or you realized a taxable capital gain (for example, if a mutual fund or trust attributed amounts to you, or you are reporting a capital gains reserve you claimed on a previous return).
* You have to repay any of your Old Age Security or Employment Insurance benefits.
* You have not repaid all amounts withdrawn from your registered retirement savings plan (RRSP) under the Home Buyers’ Plan or the Lifelong Learning Plan.
* You have to contribute to the Canada Pension Plan (CPP). This can apply if, the total of your net self-employment income and pensionable employment income is more than $3,500 (subject to change).
* You are paying Employment Insurance premiums on self-employment and other eligible earnings.
Even if none of these requirements apply, you may want to file a return if any of the following situations apply:
* You want to claim a refund.
* You want to claim the WITB for the current year.
* You want to apply for the GST/HST credit (including any related provincial credit). For example, you may be eligible if you turn 19 before April of the next year.
* You or your spouse or common-law partner want to begin or continue receiving Canada Child Tax Benefit payments, including related provincial or territorial benefit payments.
* You have incurred a non-capital loss previously that you want to be able to apply in other years.
* You want to carry forward or transfer the unused part of your tuition, education and textbook amounts.
* You want to report income for which you could contribute to an RRSP and/or a pooled registered pension plan (PRPP) in order to keep your RRSP/PRPP deduction limit for future years up to date.
* You want to carry forward the unused investment tax credit on expenditures you incurred during the current year.
* You receive the guaranteed income supplement or allowance benefits under the old age security program. You can usually renew your benefit by filing your return by April 30.
We can help you with filing your income tax returns. Our tax professionals offer convenient, accurate, and affordable preparation of all types of tax filings. We’re equipped to handle any tax situation, including personal returns, rental properties, estate or trust issues and more. We’ll make sure that you get the maximum refund possible. Give us a call now to book your appointment and file your taxes the right way.
Below are the Canada Income Tax Filing Deadlines and dates:
| Payment dates for Canada Child Tax Benefit (CCTB). |
January 20 February 20 March 20 April 20 May 18 June 20 July 20 August 19 September 20 October 20 November 18 December 13 |
| Deadline for filing tax return for taxpayer who was not self-employed. | April 30 for prior tax year. |
| Deadline for filing tax return for taxpayer who was self-employed. | June 15 for prior tax year. |
| Deadline for filing tax return on behalf of a taxpayer who died in current tax year. | April 30 for prior tax year for taxpayer who was not self-employed, or June 15 for prior tax year for taxpayer who was self-employed. |
| Payment dates for Goods and Services Tax/Harmonized Sales Tax (GST/HST) credits. | January 5 April 2 July 4 October 3 |
| Deadline for buy or have built a qualifying home under a Home Buyer�s Plan (HBP). | September 30 of the year after the year taxpayer withdraws funds from his/her RRSP(s). |
| Deadline for information slips to be issued by employers, payers, and administrators. | Last day of February of the following calendar year to which the slips apply. |
| Deadlines for installment payments. | March 15 June 15 September 15 December 15 |
| Deadline to receive a written offer to enroll in a Lifelong Learning Plan (LLP). | Last day of February of the year after the taxpayer withdraws funds from his/her RRSP(s). |
| Deadlines for contributing to a Registered Retirement Savings Plan (RRSP). | Last day of February for prior tax year, and December 31 of the year taxpayer turns 71 years of age (may not contribute in any amount at any time thereafter). |
| Deadline for making tax owing payments for taxpayer who was not self-employed. | April 30 for prior tax year. |
| Deadline for making tax owing payments for taxpayer who was self-employed. | April 30 for prior tax year. |
| Deadline for making tax owing payments on behalf of a taxpayer who died in current tax year. | April 30 for prior tax year if taxpayer died January 1-October 31, whether taxpayer was self-employed or not, or Six months after taxpayer�s date of death if taxpayer died November 1-December 31, whether taxpayer was self-employed or not. |
| Payment dates for Universal Child Care Benefit (UCCB). | January 20 February 20 March 20 April 17 May 20 June 20 July 18 August 20 September 19 October 20 November 20 December 12 |
| WITB advance payment dates | January 5 April 4 July 4 October 3 |
If you owe tax for the current year and do not file your return on time, you will be charged a late-filing penalty. The penalty is 5% of your current years balance owing, plus 1% of your balance owing for each full month your return is late, to a maximum of 12 months.
If you were charged a late-filing penalty on any of your past 3 years returns, your current year late-filing penalty may be 10% of your present balance owing, plus 2% for each full month your return is late, to a maximum of 20 months.
When to expect your tax refund: Four to six weeks for a paper return. CRA does not begin to process returns until mid-February, so do not call before mid-March even if you filed your return in January. If you filed your return on or before April 30th wait four weeks before calling. If you filed you return after April 30th wait six weeks before calling.
E-file : If you electronically file your return could be processed in as soon as five business days but wait at least three weeks before you call.
To find out about your tax refund: Call CRA at 1-800-267-6999 press |1|.
Federal tax rates for 2016
- 15% on the first $45,282 of taxable income
- 20.5% on the next $45,281 of taxable income (on the portion of taxable income between $45,283 and $90,563)
- 26% on the next $49,825 of taxable income (on the portion of taxable income between $90,564 and $140,388)
- 29% on the next $59,612 of taxable income (on the portion of taxable income between $140,389 and $200,000)
- 33% of taxable income over $200,001
Tax Documents
To report your business income and expenses, you can complete either one of the following forms:
http://www.cra-arc.gc.ca/E/pbg/tf/t2125/README.html (Form T2125, Statement of Business and Professional Activities)
- This form used to calculate your income from professional activities using the same rules as for a business. However, some aspects of professional activities are different from those of other types of businesses.
You have to complete a separate form for each business or professional activity you operate. For more information, see IT206, Separate Businesses.
For further topics for reporting your business income and expenses like:
- Completing Form T2125 – Statement of Business & Professional Activities
- Getting Form T2125 – Statement of Business & Professional Activities
- Industry codes – Industry codes list to be used when completing the form T2125
- Capital cost allowance – How to deduct the cost of capital property over the years
- Eligible capital expenditures – Definitions, calculations, election and replacement property
- Important Dates – Due dates for filing your returns and making your payments. Establishing a fiscal year-end and calculating installment payments.
- Penalties
- Other Forms and Publications
Click CRA link: CRA Reporting your business income and expenses
Information slips are prepared by your employer, payer, or administrator and must be issued by the last day of February of the following calendar year to which the slips apply.
If you have not received or have lost or misplaced your current year’s T4 slip or any other information slip you believe you will need in order to complete your tax return, you have to ask your employer or the issuer of the slip for a copy.
The following is a list of some of the information slips you may receive:
- T4 Statement of Remuneration Paid
- T4A Statement of Pension, Retirement, Annuity and Other Income
- T4AStatement of Old Age Security (OAS)
- T4A (P) Statement of Canada Pension Plan (CPP) Benefits
- T4E Statement of Employment Insurance (EI) and Other Benefits
- T4RSP Statement of Registered Retirement Savings Plan (RRSP) Income
- T5007 Statement of Benefits
- RC62 Universal Child Care Benefit statement
- T5018 Statement of Contract Payments
The links below provide access to both electronic and print media for current CRA Income Tax Forms. Please click on the links below for the upldated yearly tax forms.
Tax Forms:
Schedule 1 – Federal Tax
Schedule 2 – Federal Amounts Transferred From Your Spouse or Common-law Partner
Schedule 3 – Capital Gains (or Losses)
Schedule 4 – Statement of Investment Income
Schedule 5 – Details of Dependant
Schedule 6 – Working Income Tax Benefit
Schedule 7 – RRSP Unused Contributions, Transfers, and HBP or LLP Activities
Schedule 8 – CPP Contributions on Self-Employment and Other Earnings
Schedule 9 – Donations and Gifts
Schedule 11 – Tuition, Education, and Textbook Amounts
T1 General – Income Tax and Benefit Return for Non-Residents and Deemed Residents of Canada
Federal Worksheet – Non-Residents and Deemed Residents of Canada
Other Common Forms:
T1-ADJ T1 Adjustment Request
T1-DD(1) Direct Deposit Request – Individuals
T1-M Moving Expenses Deduction
T1153 Consent and Request Form
T1032 Joint Election to Split Pension Income
T1036 Home Buyers’ Plan (HBP) Request to Withdraw Funds from an RRSP
TL2 Claim for Meals and Lodging Expenses
T776 Statement of Real Estate Rentals
T778 Child Care Expenses Deduction
T2121 Statement of Fishing Activities
T2124 Statement of Business Activities
T2125 Statement of Business or Professional Activities
T2032 Statement of Professional Activities
T2222 Northern Residents Deductions
T2042 Statement of Farming Activities
T2200 Declaration of Conditions of Employment
T2201 Disability Tax Credit Certificate
T2203 Provincial and Territorial Taxes – Multiple Jurisdictions
RC65, Marital Status Change
Child Tax And Universal Child Care Application:
RC66, Canada Child Benefits Application
Apply for the Universal Child Care Benefit
Select the province or territory in which you resided on December 31, of the tax year. If you were a deemed resident or non-resident of Canada in that year, see Income Tax and Benefit Package (for non-residents and deemed residents of Canada).
Corporate Tax Forms
These are the Tax Forms for businesses in Canada.
- T2 Corporation Income Tax Return (2011 and later taxation years)
- T2-DD Direct Deposit Request Form for Corporations
- T2S8A Deduction in Respect of Cumulative Eligible Capital
- T2S-TC Tax Calculation Supplementary – Corporations (1997 and Later Taxation Years)
- T2SCH1 Net Income (Loss) for Income Tax Purposes
- T2SCH1S Net Income (Loss) For Income Tax Purposes
- T2SCH2 Charitable Donations and Gifts (2005 and later taxation years)
- T2SCH3 Dividends Received, Taxable Dividends Paid, and Part IV Tax Calculation (2004 and later taxation years)
- T2SCH4 Corporation Loss Continuity and Application (2006 and later taxation years)
- T2SCH5 Tax Calculation Supplementary – Corporations (2008 and later tax years and Ontario 2009 and later tax years)
- T2SCH6 Summary of Dispositions of Capital Property
- T2SCH7 Calculation of Aggregate Investment Income and Active Business Income (2006 and later taxation years)
- T2SCH8 Capital Cost Allowance (CCA) (2006 and later tax years)
- T2SCH9 Related and Associated Corporations
- T2SCH10 Cumulative Eligible Capital Deduction (2002 and later taxation years)
- T2SCH11 Transactions with Shareholders, Officers or Employees
- T2SCH12 Resource-Related Deductions
- T2SCH13 Continuity of Reserves
- T2SCH14 Miscellaneous Payments to Residents
- T2SCH15 Deferred Income Plans
- T2SCH16 Patronage Dividend Deduction (2006 and later taxation years)
- T2SCH17 Credit Union Deductions
- T2SCH18 Federal and Provincial or Territorial Capital Gains Refund (2006 and later tax years and Ontario 2009 and later tax years)
- T2SCH19 Non-Resident Shareholder Information
- T2SCH20 Part XIV – Additional Tax on Non-Resident Corporations (2002 and later tax years)
- T2SCH21 Federal and Provincial or Territorial Foreign Income Tax Credits and Federal Logging Tax Credit (2009 and later tax years)
- T2SCH22 Non-Resident Discretionary Trust
- T2SCH23 Agreement Among Associated Canadian-Controlled Private Corporations to Allocate the Business Limit (2006 and later taxation years)
- T2SCH24 First Time Filer after Incorporation, Amalgamation or Winding-up of a Subsidiary into a Parent
- T2SCH25 Investment in Foreign Affiliates
- T2SCH27 Calculation of Canadian Manufacturing and Processing Profits Deduction (2008 and later years)
- T2SCH28 Election not to be an Associated Corporation
- T2SCH29 Payments to Non-Residents
- T2SCH31 Investment Tax Credit – Corporations (2007 and later taxation years)
- T2SCH33 Part I.3 Tax on Large Corporations
- T2SCH34 Part I.3 Tax on Financial Institutions
- T2SCH35 Part I.3 Tax on Large Insurance Corporations
- T2SCH36 Agreement Among Related Corporations – Part I.3 Tax
- T2SCH37 Calculation of Unused Surtax Credit
- T2SCH38 Part VI Tax on Capital of Financial Institutions (2006 and later taxation years)
- T2SCH39 Agreement Among Related Financial Institutions – Part VI Tax
- T2SCH42 Calculation of Unused Part I Tax Credit
- T2SCH43 Calculation of Parts IV.1 and VI.1 Taxes
- T2SCH44 Non-Arm’s Length Transactions
- T2SCH45 Agreement Respecting Liability for Part VI.1 Tax
- T2SCH46 Part II – Tobacco Manufacturers’ Surtax (2007 and later taxation years)
- T2SCH49 Agreement Among Associated Canadian-Controlled Private Corporations to Allocate the Expenditure Limit
- T2SCH50 Shareholder Information (2006 and later taxation years)
- T2SCH53 General Rate Income Pool (GRIP) Calculation (2006 and Later Tax Years)
- T2SCH54 Low Rate Income Pool (LRIP) Calculation (2006 and later tax year)
- T2SCH55 Part III.1 Tax on Excessive Eligible Dividend Designations (2006 and later tax years)
- T2SCH91 Information Concerning Claims for Treaty-Based Exemptions
- T2SCH97 Additional Information On Non-Resident Corporations In Canada
- T2SCH100 Balance Sheet Information (1998 and later taxation years)
- T2SCH101 Opening Balance Sheet Information (1998 and later taxation years)
- T2SCH125 Income Statement Information (1998 and later taxation years)
- T2SCH141 Notes Checklist (2004 and later taxation years)
- T2SCH150 Net Income (Loss) for Income Tax Purposes for Life Insurance Companies (for taxation years ending after February, 2004)
- T2SCH300 Newfoundland and Labrador Manufacturing and Processing Profits Tax Credit
- T2SCH301 Newfoundland and Labrador Research and Development Tax Credit (2004 and later taxation years)
- T2SCH302 Additional Certificate Numbers for the Newfoundland and Labrador Film and Video Industry Tax Credit
- T2SCH303 Newfoundland And Labrador Direct Equity Tax Credit (2004 and later taxation years)
- T2SCH304 Newfoundland and Labrador Resort Property Investment Tax Credit (2007 and later tax years)
- T2SCH320 Prince Edward Island Manufacturing and Processing Profits Tax Credit (2005 and later taxation years)
- T2SCH321 Prince Edward Island Corporate Investment Tax Credit
- T2SCH340 Nova Scotia Research and Development Tax Credit (2002 and later taxation years)
- T2SCH341 Nova Scotia Corporate Tax Reduction for New Small Businesses
- T2SCH342 Nova Scotia Tax on Large Corporations (2006 and later taxation years)
- T2SCH343 Nova Scotia Tax on Large Corporations – Agreement Among Related Corporations
- T2SCH344 Nova Scotia Manufacturing and Processing Investment Tax Credit (2006 and later taxation years)
- T2SCH345 Additional Certificate Numbers for the Nova Scotia Film Industry Tax Credit
- T2SCH346 Nova Scotia Corporation Tax Calculation (2007 and Later Taxation Years)
- T2SCH347 Addition Certificate Numbers for the Nova Scotia Digital Tax Credit (2008 and later tax years)
- T2SCH360 New Brunswick Research and Development Tax Credit
- T2SCH361 New Brunswick Tax on Large Corporations
- T2SCH362 New Brunswick Tax on Large Corporations – Agreement Among Related Corporations
- T2SCH365 Additional Certificate Numbers for the New Brunswick Film Tax Credit
- T2SCH366 New Brunswick Corporation Tax Calculation (2007 and later taxation years)
- T2SCH380 Manitoba Research and Development Tax Credit
- T2SCH381 Manitoba Manufacturing Investment Tax Credit (2008 and later tax years)
- T2SCH382 Additional Certificate Numbers for the Manitoba Film and Video Production Tax Credit
- T2SCH383 Manitoba Corporation Tax Calculation (2007 and later taxation year)
- T2SCH384 Manitoba Co-op Education and Apprenticeship Tax Credit
- T2SCH385 Manitoba Odour Control Tax Credit (2006 and later taxation years)
- T2SCH387 Manitoba Community Enterprise Investment Tax Credit (2008 and later tax years)
- T2SCH400 Saskatchewan Royalty Tax Rebate Calculation (Corporations) (2003 and later taxation years)
- T2SCH402 Saskatchewan Manufacturing and Processing Investment Tax Credit (2006 and later taxation years)
- T2SCH403 Saskatchewan Research and Development Tax Credit
- T2SCH404 Saskatchewan Manufacturing and Processing Profits Tax Reduction (2006 and later taxation years)
- T2SCH410 Additional Certificate Numbers for the Saskatchewan Film Employment Tax Credit
- T2SCH411 Saskatchewan Corporation Tax Calculation (2006 and later taxation years)
- T2SCH420 British Columbia Royalty and Deemed Income Rebate Calculation and Application (Corporations)
- T2SCH421 British Columbia Mining Exploration Tax Credit (2007 and later taxation years)
- T2SCH426 British Columbia Manufacturing and Processing Tax Credit (2000 and later taxation years)
- T2SCH427 British Columbia Corporation Tax Calculation (2007 and later taxation years)
- T2SCH428 British Columbia Training Tax Credit (2007 and later tax years)
- T2SCH440 Yukon Manufacturing and Processing Profits Tax Credit (2004 and later taxation years)
- T2SCH441 Yukon Mineral Exploration Tax Credit (2006 and later taxation years)
- T2SCH442 Yukon Research and Development Tax Credit (2000 and later taxation years)
- T2SCH460 Northwest Territories Investment Tax Credit (2005 and later taxation years)
- T2SCH480 Nunavut Investment Tax Credit (1999 and later taxation years)
- T2SCH500 Ontario Corporation Tax Calculation (2009 and later tax years)
- T2SCH501 Ontario Adjusted Taxable Income of Associated Corporations to Determine Surtax re Ontario Small Business Deduction (2009 and later tax years)
- T2SCH502 Ontario Tax Credit for Manufacturing and Processing (2009 and later tax years)
- T2SCH504 Ontario Resource Tax Credit and Ontario Additional Tax re Crown Royalties (2009 and later tax years)
- T2SCH506 Ontario Transitional Tax Debits and Credits (2009 and later tax years)
- T2SCH507 Ontario Transitional Tax Debits and Credits Calculation (2009 and later tax years)
- T2SCH508 Ontario Research and Development Tax Credit (2009 and later tax years)
- T2SCH510 Ontario Corporate Minimum Tax (2009 and later tax years)
- T2SCH511 Ontario Corporate Minimum Tax – Total Assets and Revenue for Associated Corporations (2009 and later tax years)
- T2SCH512 Ontario Special Additional Tax on Life Insurance Corporations (SAT) (2009 and later tax years)
- T2SCH513 Agreement Among Related Life Insurance Corporations (Ontario) (2009 and later tax years)
- T2SCH514 Ontario Capital Tax on Financial Institutions (2009 and later tax years)
- T2SCH515 Ontario Capital Tax on Other Than Financial Institutions (2009 and later tax years)
- T2SCH516 Capital Deduction Election of Associated Group for the Allocation of Net Deduction (2009 and later tax years)
- T2SCH517 Calculation of Ontario Capital Tax Investment Allowance for Financial Institutions (2009 and later tax years)
- T2SCH524 Ontario Specialty Types (2009 and later tax years)
- T2SCH546 Corporations Information Act Annual Return for Ontario Corporations (2009 and later tax years)
- T2SCH548 Corporations Information Act Annual Return for Foreign Business Corporations (2009 and later tax years)
- T2SCH550 Ontario Co-operative Education Tax Credit (2009 and later tax years)
- T2SCH552 Ontario Apprenticeship Training Tax Credit (2009 and later tax years)
- T2SCH554 Ontario Computer Animation and Special Effects Tax Credit (2009 and later tax years)
- T2SCH556 Ontario Film and Television Tax Credit (2009 and later tax years)
- T2SCH558 Ontario Production Services Tax Credit (2009 and later tax years)
- T2SCH560 Ontario Interactive Digital Media Tax Credit (2009 and later tax years)
- T2SCH562 Ontario Sound Recording Tax Credit (2009 and later tax years)
- T2SCH564 Ontario Book Publishing Tax Credit (2009 and later tax years)
- T2SCH566 Ontario Innovation Tax Credit (2009 and later tax years)
- T2SCH568 Ontario Business-Research Institute Tax Credit (2009 and later tax years)
- T2SCH569 Ontario Business-Research Institute Tax Credit Contract Information (2009 and later tax years)
- T2SHORT T2 Short Return – For Eligible Corporations
- T2WS1 Calculating estimated tax payable and tax credit
- T2WS2 Calculating monthly instalment payments
- T2WS3 Calculating quarterly instalment payments