Ontario Professional Tax Accounting Services

Bomcas Accounting and Tax Services Canada offers income tax returns, tax planning, personal and corporate tax, bookkeeping, accounting, and back tax services in Ontario, the Greater Toronto Area (GTA), & Ottawa.

 

Income Tax ServicesAccounting Services
Personal Income Tax Preparation
Corporate & Small Business Tax
Accounting & Bookkeeping
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Online Accounting & Tax Services
Late & Back Taxes Return
International Tax Services
Hands of CEO and his secretary or accountant discussing financial report, making remarks, editing ga

Full Service Accounting and Tax Services in Ontario Canada

Our Ontario Accounting and Tax Professionals offer a full range of accounting, tax, financial, and business services, including: Individual Income Tax Preparation and Filing Services, Corporate Income Tax Preparation and Filing Services, Farm Tax and Accounting, Back Taxes, International Tax Services, Cross Border Tax Services, Payroll Services, General Accounting, and consultation on complex tax issues.

Farm Tax Services

Accounting Services for Farms and Agriculture Our t rusted tax experts to manage your farm’s strategic planning, income tax preparation, payroll reporting, bookkeeping, and other needs.

Small Business Accounting

We have choices for you, regardless of the size or industry of your company. Accounting services for subcontractors and small businesses in Ontario, Canada.

Comprehensive Tax Planning Services

Every financial decision you make will have tax ramifications. This can be disastrous for those with greater incomes. To lower tax liability, a proactive approach is required.

Tax Audits and Appeals

Personal and corporate tax audits and appeals can be difficult to navigate. Allow the experts at Bomcas Accounting and Tax Services to walk you through the process. Please contact us right away!

General Accounting & Tax Services

Personal Tax Preparation

Personal tax services are provided by Bomcas Accounting and Tax Services in Canada to clients in order to assist them in managing their personal and family wealth through smart tax and financial planning.

Corporation income tax return

To submit corporate income tax, you must file a tax return with the Canada Revenue Agency (CRA). Using your business number, you file your provincial corporate income taxes along with your federal income tax return.

Unfiled Tax Returns, Back Taxes

Our taxation services for individuals and businesses, which include CRA audits, insolvency, back taxes, tax planning and assistance, and other services, can aid you in avoiding costly mistakes in the future.

Income Tax Preparation

Our tax professionals make taxes simple for you. File your tax return from anywhere in the world, and we’ll make sure you get the most refund possible. You have the option of filing it in person, online, or by mail.

Small Business Accounting

We offer everything you’ll need to maintain your business functioning properly. Accounting, strategic planning, payroll administration, cash flow management, bank financing, and other associated services are all available.

Cross Border Tax Services

Our cross-border tax specialists can help individuals and businesses with their tax concerns. When you work with us, you can be confident that your cross-border taxes will be completed correctly the first time.

Sole Proprietorship Tax

Self-employment/Sole Proprietorship On a T1 Income Tax Return, your proprietorship or self-employment income is declared alongside any personal income. Our tax accountants are readily available.

GST/HST Return Preparation

The Canada Revenue Agency (CRA) now asks you to mention whether your revenue is from exempt or zero-rated goods, as well as sales from your linked business, when you file these electronically.

Real Estate Accountant

Rental income must be reported in order to complete and file your annual tax return accurately. Our Real Estate accountants will work with you to maximize any potential write-offs or benefits.

Happy Customers

Came to the company by Google search for a trucking accountant. They turned out to be a very competent and experienced firm. I really liked the online aspect where you can do the entire transaction without ever stepping foot in the office. I just app scanned all my tax forms and set them in. They will ask for anything you don't send if needed and it was all done in a few days. I also paid via online payments. It's convenient being a truck driver as I'm not around much. The quality of service is great and they caught all the details of trucking and I claimed things other accountants have missed. For sure I'll be recommending them to others and coming back next year.

We used Bomcas for our taxes last year, and we were very impressed! The service was fast, efficient, knowledgeable, and most importantly, Karen seems to really enjoy what she does. They are very affordable, and we will be using them again and again. I would highly recommend using them for all your tax and accounting needs!

We are very pleased with the professionalism of the whole team at Bomcas Ltd Accounting & Tax Services. Their response is very timely and they don't leave any loose ends. Danny is very knowledgeable and ethical. We feel we are in good hands.

Bomcas Edmonton Accounting and Tax Services have done my Personal Tax for the past years. Their Personal Income Tax Accountant are well qualify and experience. For my Corporation they have also done my corporate Tax and bookkeeping. I believe they are one of the Best Accounting and Tax Services in Edmonton Alberta. I would recommend anyone or any corporation to get their Bookkeeping done her and their Personal Income Tax Preparation and Filing and Corporation Taxes done here. They provide all the accounting and tax services your will need in Edmonton. I would say they are a full service accounting firm with professionals that understand Canadian tax laws. I said this because they work in my best interest to get the maximum refund possible. Also i have have get a few audits and they were able to completed all these for me with no problems. All year round I was able to get service and updates ets. The Best Income Tax Services in Edmonton Alberta Canada they are Bomcas Accounting and Tax Services. See you soon

Got me out of a huge tax issue. Thanks to the whole team for all the hard work. They got me on track to success! I would recommend these tax accountants to all my relatives with confidence!

I was very satisfied with the help and patience of the professional tax accountants at Bomcas Ltd. They were very adept and educated. Took proper time and were very thorough. Will definitely use them again!

My experience with BOMCAS was WOW! Impressive work and professionalism! They handle all my taxation and accounts so accurately that was beyond my expectations! Highly recommended!

Payroll, accounting service, bookkeeping, tax preparation- do you want to avail of all these services in one place? Don’t worry, keep your faith in Bomcas. Saying from my practical experience, their services won’t make you disappointed.

So excellent and efficient! BOMCAS handled my personal tax. Truly affordable charges and amazing services. I would like to recommend it to all my friends who need it. Thanks a lot!

I am very happy with the service of Bomcas Ltd Accounting & Tax Services. They have helped me a lot when contacted them to tax my needs. I have referred several colleagues of mine and they are all happy with the service and the expertise of these professionals.

The professionalism I receive from the staff at Bomcas is exceptional. My tax return is done accurately and in a timely manner. I would recommend anyone to this company. You get your money's worth.

They take the time to discuss our objectives and always seem to get things done either on time or early. We like the fact that they are local and always within reach and overall they are just a nice group of people to work with.”

Really happy with Bomcas Ltd Accounting & Tax Services! They have offered me specialized service for all tax requirements for accounting, incorporation and taxes. I have referred them to several people.

I needed consultation on the optimum way to present my tax return to maximize my tax return and the company was very helpful in guiding me.

I am very happy with Bomcas LTD. The company provides very specialized services on real estate tax and accounting.

The best accounting company around town. They are very affordable and always provides the best customer service EVERYTIME!!! Go check them out...you won't be disappointed!!!!

Wonderful Place to get your taxes and bookkeeping done in Edmonton Alberta Canada.

Karen is very professional. I am very pleased with the services I received at BOMCAS.

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F.A.Q.

Year-End Tax Planning

Through effective tax planning, our tax specialists will show you how to pay less tax while getting the highest possible returns. We are here to assist; we are the leading provider of Tax Planning & Preparation services in Ontario Canada (Toronto, Ottawa, London, Kingston), and the surrounding areas. Before submitting your return, our tax professionals will consult with you to ensure that your tax status is as advantageous as possible. It is critical to employ legal strategies in order to minimize potential tax repercussions based on your future goals and ambitions.

Business Services

You must be aware of any tax hazards as a business owner, which is why our business planning area is committed to assisting you in avoiding them to the maximum extent possible. We offer complete bookkeeping services, including payroll, GST, and year-end closeout procedures. People from the Greater Toronto Area (GTA), Ottawa, Kingston, London, Ontario as a whole, and the surrounding regions are among those we serve. We specialize in small and medium-sized businesses (SMEs).

Tax Advisory Services

Our Tax Accountants provide Tax Services in Ottawa, the Greater Toronto Area (GTA), Kingston, London, and the province of Ontario as a whole, as well as in their surrounding locations, with a particular emphasis on business accounting and individual tax returns. We can supply you with up-to-date tax information either online, over the phone, or in person if you prefer.

CRA Audit Support

As part of an audit, the Canada Revenue Agency (CRA) may examine your books and records, papers, and information (collectively referred to as records), including any tax returns that you have submitted with the government, your credit history, and property information, among other things. If you have completed a tax return but have not yet received a credit report or credit card statement from the government, you may be subject to an audit (for example, a spouse or common-law partner, family members, corporations, partnerships, or a trust [settlor, beneficiary, and trustee]).

HST/GST Preparation Services

GST-registered services Filing of Tax Returns.
The GST (Products and Services Tax) is a federal tax applied at a fixed rate of 5% on the vast majority of goods and services sold in Canada. HST (Harmonized Sales Tax) has been implemented in several provinces, including Ontario, British Columbia, Newfoundland and Labrador, New Brunswick, and Nova Scotia, but GST (Goods and Services Tax) is still collected separately by each province.

If your annual income is $30 000 or more, you must register for a GST number with the Canada Revenue Agency (CRA) in order to conduct business in Canada. If your annual revenue is less than $30 000, you must apply for a GST number with the CRA (Canada Revenue Agency). Every GST registrant is required by law to file a GST return to disclose taxable sales that happened during the period to which they were assigned.

GST registration is a critical component of a business's financial health and growth. It should not be taken lightly. Bomcas Accounting and Tax Services handles the GST registration and filing process. Throughout the procedure, we provide assistance to businesses, small businesses, SMEs, and self-employed individuals. As a result, we understand the significance of CRA GST compliance, as well as the detrimental impact that fines can have on your company's operations and bottom line. Using professional GST filing services, for example, can help you gain greater financial control and engage in more strategic financial planning, to name a few advantages.

GST Filing Services are Offered by Professionals.
If you receive GST from your clients for goods and services, you must learn how to accurately pay the money to the government on time each quarter. A GST return must be filed with the Canada Revenue Agency in accordance with a set of standards, timetables, and supporting documentation.

Bomcas Accounting and Tax Services offers professional GST filing services to ensure that your GST return form is appropriately filed and that you earn the maximum financial benefit possible. It is our responsibility to discover permissible business expenses and tax credits so that you do not have to remit more GST to the government than is necessary.

It is feasible to submit Goods and Services Tax (GST) returns electronically.
You can file your GST returns in a variety of ways, depending on your choices and the limits imposed by the Canada Revenue Agency, such as by mailing a cheque, going through a bank or credit institution, or filing electronically through TELEFILE.

GST returns should be filed online, which we strongly suggest our clients to do at Bomcas Accounting and Tax Services. Online calculators help you optimize the benefits of cost reporting and tax credits that are appropriate to your case, in addition to lowering the likelihood of errors.

The advantage of filing your GST online is that it is received instantly, and if you are entitled to a GST refund, you will receive it considerably faster as a result. Remittance payments can be conducted online in a safe and secure manner. Your money will be received and processed as soon as possible, and you will be notified by email. It can save you time by not having to wait for cheques to clear or products to arrive in the mail, allowing you to manage your cash flow and spending budget more effectively.

The Canada Revenue Agency has set deadlines for submitting Goods and Services Tax returns.
The Canadian tax system is complicated, and your firm's GST filing date is directly related to your organization's GST reporting period. The deadline for your company is mentioned at the top of the GST return form (Form GST34) that you get from the Canada Revenue Agency (CRA), which you should carefully read. Depending on their size and financial condition, small firms and corporations can file tax returns on a yearly (with a year-end of December 31st), quarterly, or monthly basis.

Bomcas Accounting and Tax Services makes it easy for your company to file GST returns in Canada.
You can ensure that your GST return is filed accurately and on time by using Bomcas Accounting's GST filing services.

A GST return includes much more than just completing out papers and sending it to the government. Time spent gathering papers, completing GST forms, preparing returns, and making payments for each return period would be better spent on business development than than administrative tasks. In addition to providing expert GST filing services, our Accountants are committed to incorporating your GST return into your company's overall financial strategy and planning. If you want to learn more, please contact us right away.

Back Tax Services

Unfiled tax returns services are provided in Ottawa, the Greater Toronto Area, London, Kingston, and across the province of Ontario, Canada.
The failure to file income tax returns is a criminal offense. Our tax specialists in Ontario and Alberta, including Ottawa, Kingston, Toronto, Edmonton, Sherwood Park, and Red Deer, as well as Leduc, Beaumont, and Fort McMurray, as well as throughout Canada, have the necessary knowledge and experience to correct pending tax files for individuals or business owners in any city or town in Ontario or Alberta, in addition to providing you with peace of mind. We will be able to more easily negotiate appropriate settlements with the CRA and work out payment arrangements for tax penalties and interest if you voluntarily submit your unfiled documents through our offices or online.

Non-Resident tax services

Non-Canadian residents are welcome to take advantage of our Income Tax Compliance Services.
Developing T1 personal income tax forms for Canadian taxpayers who are leaving or entering the country in order to register their emigration or immigration is a top priority.

Individuals and corporations who do not reside in Canada but conduct business in the country may have their Canadian income tax returns prepared.

The preparation of elective nonresident tax returns under Sections 216, 216.1, 217, and 218.3 for nonresidents with Canadian sourced income under the provisions of Sections 216, 216.1, 217, and 218.3 for nonresidents with Canadian sourced income under the provisions of Sections 216, 216.1, 217, and 218.3 for nonresidents with Canadian sourced income under the provisions of Sections 216, 216.1, 217, and 218.3,

Non-residents who own rental properties in the real estate industry are required to file GST/HST filings, according to the federal government.

Nonresident tax information slips, such as the NR4s and NR4SUM, as well as the T4A-NRs and T4A-NRSUM, must be prepared in addition to resident tax information slips.

Tax forms NR5 and NR6 should be completed in order to reduce withholding taxes from nonresidents' income and salary.

Non-residents who sell real estate in Canada are required to complete form T2062/2062A – Certificate of conformity (clearing certificate) as well as the final T1 non-resident personal income tax return, as stipulated by Section 115 of the Income Tax Act of Canada (Canada).

Form T1261 – Application for an individual tax number (ITN#) and a non-resident withholding tax account (NR account#) for non-residents with income derived from sources in Canada – is for non-residents who have income derived from sources in Canada.

Management of the Canada Revenue Agency, as well as communication with the organization are all responsibilities (CRA).

Non-Canadian residents are welcome to take use of tax planning and consulting services in the country.

The production of customized exit/entry tax returns and the analysis of Canadian tax repercussions assist Canadian tax residents who are emigrating (departing from) or immigrating (entering) to a nation other than their home country.

The determination of residency status for tax purposes in Canada is meticulous, taking into account both primary and secondary residential relationships, as well as other important residential characteristics, among other factors.

Advising international professionals, temporary employees, athletes, and entertainers on the tax consequences of doing business in Canada is one of our areas of expertise.

The services we provide to international investors in Canada include consulting and advice. Assistance with the purchase of real estate in Canada is provided to non-citizens living outside the nation.

Mobile Tax & Accounting

Income tax filing and bookkeeping services are provided by us to individuals and businesses on a year-round basis, door-to-door. Every facet of your accounting requirements can be fulfilled at your convenience and at a reasonable price. Please get in touch with us right away if you want to learn more. No matter what accounting obstacles or difficult tax issues arise, our tax accountants, accounting team, and bookkeeping personnel have years of experience in the Accounting and Tax Services industry and are well-equipped to handle them.

Our Information Technology section ensures that we are up to current with the most up-to-day technology, allowing us to provide our services remotely, online, and through mobile devices while on the go. All of this can be accomplished using hardware that is simple to install and takes only a few minutes to get up and running. We can complete an entire tax return on-site, electronically file it, print you copies, email you electronic copies, and receive confirmation from the Canada Revenue Agency.

Income Tax Preparation Services Provided Across Ontario

Below is a list of cities, towns and communities in Ontario Canada where we are able to provide income tax preparation services to clients.

Aberdeen Additional Ontario
Addington Highlands Ontario
Adelaide-Metcalfe Ontario
Adjala-Tosorontio Ontario
Admaston/Bromley Ontario
Ajax Ontario
Alberton Ontario
Alfred and Plantagenet Ontario
Algoma Ontario
Algonquin Highlands Ontario
Alnwick/Haldimand Ontario
Amaranth Ontario
Amherstburg Ontario
and Glengarry Ontario
and Glengarry  Ontario
and the Islands Ontario
Armour Ontario
Armstrong Ontario
Arnprior Ontario
Arran-Elderslie Ontario
Ashfield-Colborne-Wawanosh Ontario
Asphodel-Norwood Ontario
Assiginack Ontario
Athens Ontario
Atikokan Ontario
Augusta Ontario
Aurora Ontario
Aylmer Ontario
Baldwin Ontario
Bancroft Ontario
Barrie Ontario
Bayham Ontario
Beckwith Ontario
Belleville Ontario
Billings Ontario
Black River-Matheson Ontario
Blandford-Blenheim Ontario
Blind River Ontario
Bluewater Ontario
Bonfield Ontario
Bonnechere Valley Ontario
Bracebridge Ontario
Bradford West Gwillimbury Ontario
Brampton Ontario
Brant Ontario
Brantford Ontario
Brantford  Ontario
Brethour Ontario
Brighton Ontario
Brock Ontario
Brockton Ontario
Brockville Ontario
Brooke-Alvinston Ontario
Bruce Ontario
Bruce  Ontario
Bruce Mines Ontario
Brudenell, Lyndoch and Raglan Ontario
Burk's Falls Ontario
Burlington Ontario
Burpee and Mills Ontario
Caledon Ontario
Callander Ontario
Calvin Ontario
Cambridge Ontario
Cambridge  Ontario
Carleton Place Ontario
Carling Ontario
Carlow/Mayo Ontario
Casey Ontario
Casselman Ontario
Cavan-Monaghan Ontario
Central Elgin Ontario
Central Frontenac Ontario
Central Huron Ontario
Central Manitoulin Ontario
Centre Hastings Ontario
Centre Wellington Ontario
Chamberlain Ontario
Champlain Ontario
Chapleau Ontario
Chapple Ontario
Charlton and Dack Ontario
Chatham-Kent Ontario
Chatsworth Ontario
Chisholm Ontario
Clarence-Rockland Ontario
Clarington Ontario
Clearview Ontario
Cobalt Ontario
Cobourg Ontario
Cochrane Ontario
Cockburn Island Ontario
Coleman Ontario
Collingwood Ontario
Conmee Ontario
Cornwall Ontario
Cramahe Ontario
Dawn-Euphemia Ontario
Dawson Ontario
Deep River Ontario
Deseronto Ontario
Dorion Ontario
Douro-Dummer Ontario
Drummond/North Elmsley Ontario
Dryden Ontario
Dryden  Ontario
Dubreuilville Ontario
Dufferin Ontario
Durham Ontario
Durham  Ontario
Dutton/Dunwich Ontario
Dysart, Dudley, Harcourt, Ontario
Ear Falls Ontario
East Ferris Ontario
East Garafraxa Ontario
East Gwillimbury Ontario
East Hawkesbury Ontario
East Zorra-Tavistock Ontario
Edwardsburgh/Cardinal Ontario
Elgin Ontario
Elgin  Ontario
Elizabethtown-Kitley Ontario
Elliot Lake Ontario
Emo Ontario
Englehart Ontario
Enniskillen Ontario
Erin Ontario
Espanola Ontario
Essa Ontario
Essex Ontario
Essex  Ontario
Evanturel Ontario
Faraday Ontario
Fauquier-Strickland Ontario
Fort Erie Ontario
Fort Frances Ontario
French River Ontario
Front of Yonge Ontario
Frontenac Ontario
Frontenac  Ontario
Frontenac Islands Ontario
Gananoque Ontario
Gauthier Ontario
Georgian Bay Ontario
Georgian Bluffs Ontario
Georgina Ontario
Gillies Ontario
Goderich Ontario
Gordon/Barrie Island Ontario
Gore Bay Ontario
Grand Valley Ontario
Gravenhurst Ontario
Greater Madawaska Ontario
Greater Napanee Ontario
Greater Sudbury Ontario
Greater Sudbury  Ontario
Greenstone Ontario
Grey Ontario
Grey Highlands Ontario
Grimsby Ontario
Guelph Ontario
Guelph  Ontario
Guelph/Eramosa Ontario
Guilford, Harburn, Bruton, Ontario
Haldimand Ontario
Haldimand County Ontario
Haldimand-Norfolk Ontario
Haliburton Ontario
Halton Ontario
Halton Hills Ontario
Hamilton Ontario
Hamilton  Ontario
Hanover Ontario
Harley Ontario
Harris Ontario
Hastings Ontario
Hastings  Ontario
Hastings Highlands Ontario
Havelock, Eyre and Clyde Ontario
Havelock-Belmont-Methuen Ontario
Hawkesbury Ontario
Head, Clara and Maria Ontario
Hearst Ontario
Highlands East Ontario
Hilliard Ontario
Hilton Ontario
Hilton Beach Ontario
Hornepayne Ontario
Horton Ontario
Howick Ontario
Hudson Ontario
Huntsville Ontario
Huron Ontario
Huron East Ontario
Huron Shores Ontario
Huron-Kinloss Ontario
Ignace Ontario
Ingersoll Ontario
Innisfil Ontario
Iroquois Falls Ontario
James Ontario
Jocelyn Ontario
Johnson Ontario
Joly Ontario
Kapuskasing Ontario
Kawartha Lakes Ontario
Kearney Ontario
Kenora Ontario
Kerns Ontario
Killaloe, Hagarty and Richards Ontario
Killarney Ontario
Kincardine Ontario
King Ontario
Kingston Ontario
Kingston  Ontario
Kingsville Ontario
Kirkland Lake Ontario
Kitchener Ontario
Kitchener  Ontario
La Vallee Ontario
Laird Ontario
Lake of Bays Ontario
Lake of the Woods Ontario
Lakeshore Ontario
Lambton Ontario
Lambton  Ontario
Lambton Shores Ontario
Lanark Ontario
Lanark  Ontario
Lanark Highlands Ontario
Larder Lake Ontario
LaSalle Ontario
Latchford Ontario
Laurentian Hills Ontario
Laurentian Valley Ontario
Leamington Ontario
Leeds and Grenville Ontario
Leeds and Grenville  Ontario
Leeds and the Thousand Islands Ontario
Lennox and Addington Ontario
Limerick Ontario
Lincoln Ontario
London Ontario
London  Ontario
Loyalist Ontario
Lucan Biddulph Ontario
Macdonald, Meredith and Ontario
Machar Ontario
Machin Ontario
Madawaska Valley Ontario
Madoc Ontario
Magnetawan Ontario
Malahide Ontario
Manitoulin Ontario
Manitouwadge Ontario
Mapleton Ontario
Marathon Ontario
Markham Ontario
Markham  Ontario
Markstay-Warren Ontario
Marmora and Lake Ontario
Matachewan Ontario
Mattawa Ontario
Mattawan Ontario
Mattice-Val Côté Ontario
McDougall Ontario
McGarry Ontario
McKellar Ontario
McMurrich/Monteith Ontario
McNab/Braeside Ontario
Meaford Ontario
Melancthon Ontario
Merrickville-Wolford Ontario
Middlesex Ontario
Middlesex  Ontario
Middlesex Centre Ontario
Midland Ontario
Milton Ontario
Minden Hills Ontario
Minto Ontario
Mississauga Ontario
Mississauga  Ontario
Mississippi Mills Ontario
Mono Ontario
Montague Ontario
Moonbeam Ontario
Moosonee Ontario
Morley Ontario
Morris-Turnberry Ontario
Mulmur Ontario
Muskoka Ontario
Muskoka  Ontario
Muskoka Lakes Ontario
Nairn and Hyman Ontario
Neebing Ontario
New Tecumseth Ontario
Newbury Ontario
Newmarket Ontario
Niagara Ontario
Niagara Falls Ontario
Niagara Falls  Ontario
Niagara-on-the-Lake Ontario
Nipigon Ontario
Nipissing Ontario
Norfolk Ontario
Norfolk County Ontario
North Algona Wilberforce Ontario
North Bay Ontario
North Dumfries Ontario
North Dundas Ontario
North Frontenac Ontario
North Glengarry Ontario
North Grenville Ontario
North Huron Ontario
North Kawartha Ontario
North Middlesex Ontario
North Perth Ontario
North Stormont Ontario
Northeastern Manitoulin Ontario
Northeastern Manitoulin and the Islands Ontario
Northern Bruce Peninsula Ontario
Northumberland Ontario
Northumberland  Ontario
Norwich Ontario
Oakville Ontario
O'Connor Ontario
Oil Springs Ontario
Oliver Paipoonge Ontario
Opasatika Ontario
Orangeville Ontario
Orillia Ontario
Oro-Medonte Ontario
Oshawa Ontario
Oshawa  Ontario
Otonabee-South Monaghan Ontario
Ottawa Ontario
Ottawa  Ontario
Owen Sound Ontario
Oxford Ontario
Papineau-Cameron Ontario
Parry Sound Ontario
Peel Ontario
Pelee Ontario
Pelham Ontario
Pembroke Ontario
Pembroke  Ontario
Penetanguishene Ontario
Perry Ontario
Perth Ontario
Perth  Ontario
Perth East Ontario
Perth South Ontario
Petawawa Ontario
Peterborough Ontario
Peterborough  Ontario
Petrolia Ontario
Pickering Ontario
Pickle Lake Ontario
Plummer Additional Ontario
Plympton-Wyoming Ontario
Point Edward Ontario
Port Colborne Ontario
Port Hope Ontario
Powassan Ontario
Prescott Ontario
Prescott and Russell Ontario
Prince Ontario
Prince Edward Ontario
Prince Edward County Ontario
Puslinch Ontario
Quinte West Ontario
Rainy River Ontario
Ramara Ontario
Red Lake Ontario
Red Rock Ontario
Renfrew Ontario
Renfrew  Ontario
Richmond Hill Ontario
Richmond Hill  Ontario
Rideau Lakes Ontario
Russell Ontario
Ryerson Ontario
Sables-Spanish Rivers Ontario
Sarnia Ontario
Saugeen Shores Ontario
Sault Ste. Marie Ontario
Schreiber Ontario
Scugog Ontario
Seguin Ontario
Selwyn Ontario
Severn Ontario
Shelburne Ontario
Shuniah Ontario
Simcoe Ontario
Simcoe  Ontario
Sioux Lookout Ontario
Sioux Narrows-Nestor Falls Ontario
Smiths Falls Ontario
Smooth Rock Falls Ontario
South Algonquin Ontario
South Bruce Ontario
South Bruce Peninsula Ontario
South Dundas Ontario
South Frontenac Ontario
South Glengarry Ontario
South Huron Ontario
South River Ontario
South Stormont Ontario
Southgate Ontario
Southwest Middlesex Ontario
South-West Oxford Ontario
Southwold Ontario
Spanish Ontario
Springwater Ontario
St. Catharines Ontario
St. Catharines  Ontario
St. Charles Ontario
St. Clair Ontario
St. Joseph Ontario
St. Marys Ontario
St. Thomas Ontario
Stirling-Rawdon Ontario
Stone Mills Ontario
Stormont, Dundas Ontario
Stormont, Dundas and Glengarry Ontario
Stratford Ontario
Strathroy-Caradoc Ontario
Strong Ontario
Sudbury Ontario
Sundridge Ontario
Tarbutt Ontario
Tay Ontario
Tay Valley Ontario
Tecumseh Ontario
Tehkummah Ontario
Temagami Ontario
Temiskaming Shores Ontario
Terrace Bay Ontario
Thames Centre Ontario
The Archipelago Ontario
The Blue Mountains Ontario
The Nation Ontario
The North Shore Ontario
Thessalon Ontario
Thornloe Ontario
Thorold Ontario
Thunder Bay Ontario
Thunder Bay  Ontario
Tillsonburg Ontario
Timiskaming Ontario
Timmins Ontario
Tiny Ontario
Toronto Ontario
Toronto  Ontario
Trent Hills Ontario
Trent Lakes Ontario
Tudor and Cashel Ontario
Tweed Ontario
Tyendinaga Ontario
Uxbridge Ontario
Val Rita-Harty Ontario
Vaughan Ontario
Wainfleet Ontario
Warwick Ontario
Wasaga Beach Ontario
Waterloo Ontario
Waterloo  Ontario
Wawa Ontario
Welland Ontario
Wellesley Ontario
Wellington Ontario
Wellington  Ontario
Wellington North Ontario
West Elgin Ontario
West Grey Ontario
West Lincoln Ontario
West Nipissing Ontario
West Perth Ontario
Westport Ontario
Whitby Ontario
Whitchurch-Stouffville Ontario
White River Ontario
Whitestone Ontario
Whitewater Region Ontario
Wilmot Ontario
Windsor Ontario
Windsor  Ontario
Wollaston Ontario
Woodstock Ontario
Woolwich Ontario
York Ontario
York  Ontario
Zorra Ontario
Tax Filing for Newcomers to Canada: Avoid Common Mistakes

Tax Filing for Newcomers to Canada: Avoid Common Mistakes

Navigating the intricacies of tax filing for newcomers to Canada can be a daunting task. With the Canada Revenue Agency (CRA) administering a complex tax system that includes multiple tax credits, deductions, and varying tax rates, understanding one’s obligations and opportunities is crucial. This becomes even more significant for those filing an income tax return in Canada for the first time, where common mistakes can lead to missed benefits or compliance issues. Given this backdrop, this article aims to empower newcomers, including international students and temporary residents, with essential knowledge and tools to file their taxes accurately and efficiently.

At the heart of tax filing for newcomers to Canada are several key considerations: determining one’s tax residency status, obtaining a Social Insurance Number (SIN), understanding the progressive tax system, and knowing how to report foreign income to avoid double taxation. Additionally, newcomers must navigate through tax filing methods, deadlines, and the specifics of the first-time tax return in Canada, leveraging tax treaties and credits like the GST/HST credit, the First-Time Home Buyer’s Tax Credit, and the Canada Child Benefit (CCB). This comprehensive guide will explore these areas, offering insights into how to declare worldwide income, apply for relevant newcomer tax benefits, and understand the significance of the Notice of Assessment (NOA). By adhering to the outlined steps and considering the consultation of a tax expert when necessary, newcomers can achieve a smooth transition into Canada’s tax system, ensuring they meet their obligations while maximizing potential returns.