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.
Your pay stub summarizes your employment earnings and other deductions for tax, EI, and CPP. Learn more about how these are calculated.
The amount of tax you pay on your investments depends on the type of investments you hold, and the type of account they are held 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.
If you file a late tax return or fail to report correct information on your return, you could end up paying additional fees or penalties.
There are many good reasons to keep up to date on your tax filing each year. You may file a tax return even if you don’t have any income. It could help you access certain refundable tax credits and other benefits.
Your annual RRSP contribution room is determined by how much income you earned the previous year. You can deduct contributions to your RRSP but not your TFSA.
If you fail to report all of your income on your tax return you may have to pay a federal and provincial penalty.
At tax time, make sure you’re reporting accurate information. Here are some common mistakes to watch out for.
If you need to make changes to your tax return, follow these steps.
Your tax return may be reviewed for a number of reasons. Follow these steps if you’re selected for a review.
Follow these tips to avoid being audited.