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Income Tax Frequently Asked Questions

Canadian Income tax

In Canada, income tax is administered by the Canada Revenue Agency (CRA). The Canadian income tax year is from January 1st to December 31st.   You must file a tax return if you:

  • Owe income tax to the government (for example, you earn significant income in Canada)
  • Are asked by the Canadian Revenue Agency to file a return

If you owe income tax, you must pay it by April 30 for the previous calendar year.  Late submissions are accepted, but there may be a penalty.

If you are employed in Canada, your employer will deduct income tax from your wages and send this money to the CRA. In order to deduct the proper amount of income tax from your wages, your employer will ask you to complete the form TD–1. Employers will deduct an amount from each pay cheque for Canada Pension Plan (CPP) and Employment Insurance (EI).   You are responsible for determining your income tax status and paying the correct amount of tax.  

 

 

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