Understanding tax

Find out more about how income tax works, including tax deductions and tax credits, and try our interactive chart to see what tax bracket you are in.

If you’re an employee, your employer will deduct income tax from your pay cheque. This is known as tax deductions at source. Reducing the amount of tax withheld will increase your net take-home pay.

Filing your taxes on time, with correct and complete information, can help you avoid penalties or fees for late filing.

Learn what your notice of assessment tells you and how it can help you if you need to make a change on your tax return or if you disagree with your assessment.

There’s always a chance your tax return could be reviewed or audited after it is processed. Learn more about what to do.

At tax time, make sure you’re reporting accurate information. Here are some common mistakes to watch out for.

Upon your death you are deemed to have disposed of your assets to your estate, which may trigger a gain or a loss. Learn more about filing a final return.

You can claim a tax credit for medical expenses for yourself, your spouse, and minor children that you paid in any twelve month period ending in the current tax year.

As a post-secondary student, you may be eligible for specific tax credits that reduce how much you may owe at tax time.