Tax Tips - Here you can find some TAX Tips and other general information.

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How long it will take to get Refund ?

  • Usually most refunds done by our office are refunded within 2 Weeks.

 

When should I fill my taxes ?

  • Generally, your return for 2017 has to be filed on or before April 30*, 2018.

*Self-employed ?

June 15 - If you or your spouse or common-law partner ran a business in 2017. You are still required to pay your taxes by April 30 if you owe money to the government.

There are some exceptions: Due Date is on Saturday or Sunday or a public holiday recognized by the CRA.

 

What are the current TAX brackets ?

Federal:

  • 15 percent on the first $46,605 of taxable income
  • 20.5 percent on the next $46,603 of taxable income, on the portion of taxable income over 46,605 up to $93,208
  • 26 percent on the next $51,281 of taxable income, on the portion of taxable income over $93,208 up to $144,489
  • 29 percent on the next $61,353 of taxable income, on the portion of taxable income over 144,489 up to $205,842
  • 33 percent of taxable income over $205,842.

 

RRSP contribution deadline ?

You have to contribute by March 1st or February 29 ( leap year ), For your contribution to be eligible for deduction for previous tax year.



References: CRA - Canada Revenue Agency