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This blog post aims to shed light on the Canadian tax year, its start and end dates, and how it impacts business taxes in Canada. The Canadian tax year aligns with the calendar year, starting on January 1st and ending on December 31st. This is different from some other countries like the United States or United Kingdom where their fiscal year ...
- Plan Ahead This Tax-Filing Season
- Go Digital This Tax-Filing Season
- Haven’T Filed in A While Or Have Never Filed A Return?
- Filing If You Received Covid-19 Emergency Benefits
- Providing Additional Income Support to Canadians
- Do Not Risk Having Your Benefits and Credits Interrupted
- Protecting You from Scams and Fraud
- What’s New For 2021
If you choose to file a paper return, the COVID-19 pandemic may affect your ability to file a return, slow down your assessment, or affect your ability to get your refund, benefit, or credit payments. This year, we are encouraging you to file your return electronically and as soon as possible. Online filing opened on February 22, 2021. If you do su...
To get your notice of assessment (NOA) and refund faster and avoid delays, the CRA encourages you to sign up for direct deposit and to file online. You now have another way to sign up for direct deposit. Many financial institutions offer CRA direct deposit through their websites. As of November 2020, more than 3 million individuals have enrolled fo...
If you have never filed a return before, haven’t filed in a while, or would like to file returns for previous years, there are different ways to file your income tax and benefit return. To get started check out the step-by-step guideto help you fill out your return.
The CRA and Service Canada processed more than 27 million Canada Emergency Response Benefit (CERB) applications, totaling more than $81 billion in payments to Canadians. The CRA also processed more than 2 million Canada Emergency Student Benefit (CESB)applications that totaled more than $2 billion in payments. If you received CERB, CESB, Canada Rec...
The Government of Canada has indicated from the outset that there would be no penalties or interest in cases where CERB needs to be repaid. However, we recognize that, for some individuals, repaying the CERB could present a significant financial hardship. For this reason, we will give Canadians more time and flexibility to repay based on their abil...
Doing taxes on time is the best way to ensure your entitlement to benefits and credits, like the Canada child benefit (CCB), the Old Age Security (OAS) pension payments, and the goods and services tax/harmonized sales tax (GST/HST) credit, are not interrupted. Even if you owe tax, don’t risk having your benefits and credits interrupted by not filin...
We recognize that there are significant effects on victims of scams, fraud, and identity theft and we are doing our best to protect Canadians and ensure they receive the benefits to which they are entitled. It is important to protect yourself from scams, and to know when and how the CRA might contact you. The Slam the scamwebpage provides informati...
Additional call agents to further increase call centre capacity – Throughout COVID-19, the CRA has seen a significant increase in call volumes. To help manage this, the 2020 Fall Economic Statementallocated additional funding to the CRA for call centre operations. Using this investment, we’ve hired additional agents who will help with increased cal...
Feb 29, 2024 · Due dates and payment dates. If you file your taxes electronically by March 15, 2024, you should receive your next Canada Carbon Rebate (CCR) payment (formerly known as the Climate action incentive payment) on April 15, 2024. If you file after March 15, 2024, generally, you can expect to get your CCR payment 6-8 weeks after your tax return has ...
Mar 4, 2021 · The following fiscal quarter periods apply to companies whose fiscal year aligns with a regular calendar year: 2020 Fiscal Quarters. Q1 2020 Dates: January 1 - March 31 Q2 2020 Dates: April 1 - June 30 Q3 2020 Dates: July 1 - September 30 Q4 2020 Dates: October 1 - December 31. 2021 Fiscal Quarters. Q1 2021 Dates: January 1 - March 31
- Peter Carleton
Apr 5, 2022 · Saturday, April 30, 2022 is the deadline for filing your 2021 personal income tax return and paying any tax you owe. (The deadline for filing this year is April 30, 2022, which is on a Saturday ...
Aug 22, 2024 · The first part ("Q4") represents the quarter, while the second part ("2022") represents the year. In this example, the phrase Q4 2022 means the fourth quarter in 2022.
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Jan 31, 2024 · Tax rate. Taxable income threshold. 15%. on the portion of taxable income that is $55,867 or less, plus. 20.5%. on the portion of taxable income over $55,867 up to $111,733, plus. 26%. on the ...
