Canada Tax Filing

The tax filing system in Canada is based on self-assessment. This implies that the individuals have to voluntarily complete their income tax return and report the income to the government. The advantage of filing the income tax return is –

• Reporting income
• Calculating tax obligations for the financial year
• Claim credits and deductions
• Continue receiving benefits and credits

If you want to receive the benefits and credits, ensure that the taxes are timely filed.

There are a few pieces of information that you require before beginning the process.

You should have –

• SIN (Social Insurance Number)
• Information Slip
• General Guide on Income Tax and its benefits
• All the income statements from Canada and outside

So, to file the income tax, you can either do it on your own, hire an accountant, or outsource the service. The method depends on your convenience and time.

There are various types of benefits and credits that you may be eligible for. In case you are a Canadian employee and filing your taxes, it might be possible that some of these benefits are missed.

That’s why the best solution is to hire an outsourcing company whom you trust.

At Fellow Tax, you can always talk to us. Our team has expertise in Canadian taxation. Our top priority is to stay away from delays and pay taxes timely. This will ensure that you can reap the advantage of all the tax credits and benefits.

In case you are planning to leave the country, chances are that you may still be liable to pay taxes up to a certain period. Fellow Tax experts take care of these overpayments and ensure that you comply with all the tax norms.

If you have a query about anything related to Canadian taxation, we are happy to help!