If you’re employed or receiving certain types of income in Canada, you've likely completed a TD1 form at some point. This personal tax credits return form determines how much tax your employer or payer withholds from your income. What many...
Tax withholding is a critical aspect of the Canadian tax system. It ensures that individuals contribute to their tax obligations throughout the year, rather than in a lump sum at year-end. Whether you're an employee, contractor, retiree, or investor, understanding...
Your residency status plays a central role in determining your tax obligations in Canada. Unlike some countries that base taxation on citizenship, Canada uses residency status to decide how much and what types of income are subject to taxation. Whether...
Canadian tax law operates on the principle of residency rather than citizenship. This means your residency status—not your nationality—determines how the Canada Revenue Agency (CRA) taxes your income. Whether you are a newcomer, an emigrant, or a Canadian working abroad,...
Long gone are the COVID-era simplified flat rate options; starting with the 2023 tax year, the CRA requires employees to use only the Detailed Method to claim home office expenses. Here’s what you need to know for filing in 2025...
Filing taxes can be intimidating, especially for individuals and families with low income. However, Canada’s federal tax system is designed not only to collect taxes but also to deliver benefits and credits to those who need them most. If you’re...
Every Canadian who files an income tax return must decide how they want to complete their return. While professional tax services and accountants are an option, many individuals prefer to file their taxes independently using software solutions. Fortunately, the Canada...
For many Canadians, buying a home—especially a first home—can feel out of reach. Thankfully, the Canadian government offers the Home Buyers' Plan (HBP), which allows eligible individuals to withdraw funds from their Registered Retirement Savings Plan (RRSP) to help with...
In today’s economy, many Canadians hold more than one job to supplement their income. Whether you're juggling two part-time jobs, a full-time job and freelance gigs, or a seasonal job on the side, it’s important to understand how working multiple...
Filing your first tax return in Canada can seem daunting, especially if you’re unfamiliar with the process. Whether you’ve just started working, recently arrived as a newcomer, or reached the age where you need to file, understanding how the Canadian...
