Here are the five common tax credits in Canada, as listed on the Canada Revenue Agency (CRA) website:
Canada Child Benefit: This is a tax-free monthly payment that helps eligible families with the cost of raising children under 18 years of age. You may be eligible if you have a child under 18 and are...
There are consequences for not filing taxes on time in Canada. Here are some of the potential consequences:
Late-filing penalty: If you owe taxes and file your return after the deadline, the CRA will charge you a late-filing penalty. The penalty is 5% of your balance owing, plus an additional 1% of y...
There are several tax deductions available to Canadian taxpayers, but here are five of the most common tax deductions in Canada:
Charitable donations: Canadians who make charitable donations to registered charities can claim a tax credit for their contributions. The federal charitable donation tax cr...
There are several free tax filing software options available in Canada that can help you prepare and file your taxes easily and accurately. Here are five of the best free tax filing software options in Canada:
TurboTax Free: TurboTax Free is a popular tax filing software that offers a user-friendly i...
If you are a Canadian resident and need to file your taxes, here are some important dates to keep in mind:
April 30: This is the deadline for most Canadians to file their income tax and benefit returns. Any taxes owed are also due on this day.
June 15: This is the filing deadline for self-employed ind...
