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Ontario Tax Rates for 2018

2018 Taxable Income 2018 Tax Rates
Up to $42,960 5.05%
In excess of $42,960 $2,169 + 9.15% on next $42,963
In excess of $85,923 $6,100 + 11.16% on next $64,077
In excess of $150,000 $13,250 + 12.16% on next $70,000
In excess of $220,000 $21,762 + 13.16% on reminder




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British Columbia Tax Rates for 2018

2018 Taxable Income 2018 Tax Rates
Up to $39,676 5.06%
In excess of $39,676 $2,008 + 7.7% on next $39,677
In excess of $79,353 $5,063 + 10.5% on next $11,754
In excess of $91,107 $6,297 + 12.29% on next $19,523
In excess of $110,630 $8,696 + 14.7% on next 39,370
In excess of $150,000 $14,483 + 16.8% on reminder




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Alberta Tax Rates for 2018

2018 Taxable Income 2018 Tax Rates
Up to $128,145 10%
In excess of $128,145 $12,815 + 12% on next $25,628
In excess of $153,773 $15,890 + 13% on next $51,258
In excess of $205,031 $22,553 + 14% on next $102,516
In excess of $307,547 $36,906 + 15% on reminder




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Personal Tax Return Filing for 2018

T1 tax returns and T1135 filing for 2018 will start from Monday, February 18, 2019, at 8:30 a.m. (Eastern Time). Any prior year filing (i.e., for 2015, 2016, 2017) including T1 Amendments must be completed before 11:59 p.m. local time on Friday, January 25, 2019. During this period CRA’s EFILE and ReFILE services will stop transmission of return in order to convert its system to prepare for the next filing season.




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Federal Tax Rates for 2018

2018 Taxable Income 2018 Tax Rates 2017 Taxable Income 2017 Tax Rates
Up to $46,605 15% Up to $45,916 15%
In excess of $46,605 $6,991 + 20.5% on next $46,603 In excess of $45,916 $6,887 + 20.5% on next $45,916
In excess of $93,208 $16,544 + 26% on next $51,281 In excess of $91,831 $16,300 + 26% on next $50,522
In excess of $144,489 $29,877 + 29% on next $61,353 In excess of $144,489 $29,436 + 29% on next $60,447
In excess of $205,842 $47,670 + 33% on reminder In excess of $202,800 $49,966 + 33% on reminder




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Foreign Income Verification

T1135-Foreign Income Verification Statement

All Canadians are required to report their worldwide income as well as any assets outside Canada over $100,000 by using form T1135. But this is the most common mistakes new immigrants are doing by not declaring the foreign income or assets each year. It increases their hassle when they decide to bring back the proceeds of the income or assets from the foreign country. Because if T1135 is not filed each year then CRA considers all the money received as income on the year of receipt and are subject to tax in Canada. These foreign reporting forms provide information to CRA about foreign assets as well as income on foreign assets. This also ensures CRA that the Canadian residents are paying taxes on income earned on foreign assets.




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