If you are resident in Canada (whether permanent or temporary) and you have income from any source in Canada then you are required to file an t1 personal income tax return with the CRA. The Personal Income Tax and Benefit Return must include your income from all sources whether it is earned in Canadian sources or from foreign sources. The tax return, specifically for personal T1 tax returns filing, is filed on a calendar year basis with the CRA.
Personal T1 Tax Returns Filing and Return Benefits
T1 Personal Income Tax Return is not only used to pay your taxes but is also a valuable resource to secure your eligibility to get the benefits under the various programs of Federal or Provincial Governments. If you fall under the low or medium-income category, you may get several benefits from the Fed or Provincial Government based on the province you are residing.
Based on your Income declared in your return, you may be eligible for numerous refundable or non-refundable benefits or credits like Canada Workers Benefit, Canada Child Benefit, GST benefits, Climate Action Incentives payments, Canada Dental Benefit, Disability Tax credits etc. Therefore, it is utmost important to file your correct Income Tax Return within the stipulated due dates.
We at Account Tax Pros help you in personal t1 tax returns filing and assist you in getting your maximum eligible benefits/credits. The Account Tax Pros T1 tax return filing consultant team is fully equipped and always updated with the latest amendments and benefits schemes of the CRA so that our client should be 100% compliant with the provisions as well as get the maximum benefits/credits whether it is Refundable or non-refundable.
Personal Tax Return Filing for Salaried/Employed
We at Account Tax Pros help you in personal tax return filing, ensuring maximum credits/benefits available to you while complying with CRA regulations. We at Account Tax not only file your t1 personal income tax return but also assist you in explaining your return and benefits. Our T1 tax return filing consultant team goal is to provide complete satisfaction to our clients by providing timely and quality services at the best affordable prices.
T1 Personal Income Tax Return of Student
In Canada, apart from other benefits/credits available to most Income Tax filers, the students get additional benefits like Tuition Tax Credit @ 15% subject to certain rules/provisions. Not only students, the benefit of the Tuition Tax Credit may be transferred to eligible parents. Besides these students are also eligible for GST Tax Credit payments, Climate Action Incentive and other payments based on their eligibility. Therefore, it is important to properly file the t1 personal income tax return of the students to avail the maximum benefits.
Self-Employed / Own Business Individuals
Our t1 tax return filing consultant team specialize in personal t1 tax returns filing of self-employed individuals like Consultants, Freelancers, Contractors, Professionals, Uber Drivers, Uber Delivery individuals etc. We ensure that your Personal Tax Return filing is done correctly in compliance with laws and get the maximum benefit in line with the CRA framework.
New Immigrant Income Tax Return
Canada always welcomes newcomers whether you are Permanent Residents, Temporary Residents or Refugees. As soon as you land in Canada, you establish relations/ties with Canadian land, you become a Resident of Canada under Income Tax provisions.
Even before filing your first t1 personal income tax return, newcomers in Canada are eligible for Canada Child Benefit, GST/HST Credit, and Climate Action Incentive payments. However, once you start receiving these benefits under any one or more schemes of the Canadian government, then you need file your t1 personal income tax return, so that you continue to get these benefits in the future.
Our t1 tax return filing consultant team help new immigrants get the maximum credits/benefits under Federal as well as provincial rules by filing the requisite Forms like RC66, RC66SCH, RC151, GST/HST Credit Application etc.
Tax Planning Advise
We also provide time-to-time personal tax return filing related help to our clients about the various options to reduce their tax burdens while complying with the rules of CRA.
Return of Non-Residents
The non-residents have an obligation to pay taxes on the income earned from any source in Canada. In most cases, passive income payments to Non-Residents are made after withholding income tax from the amounts payable to them. On the other hand, if the non-resident carries any business or earns income from the rental of any property or makes some gain on the disposal/transfer of property in Canada then a non-resident has to make the payment of taxes on such income.
We at Account Tax Pros, with our extensive knowledge of various Tax treaties of Canada with other countries, help our non-resident clients in t1 personal income tax return filing and getting the maximum advantage under the tax treaties and other compliances.
Account Tax Pros t1 tax return filing consultant team not only file our client’s T1 Tax Returns filing but also do complete handholding by assisting and representing our clients before CRA during Audits.