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2019 Taxable Income 2019 Tax Rates 2018 Taxable Income 2018 Tax Rates Up to $47,630 15% Up to $46,605 15% In excess of $47,630 $7,145 + 20.5% on next $45,916 In excess of $46,605 $6,991 + 20.5% on next $46,603…

2019 Taxable Income 2019 Tax Rates 2018 Taxable Income 2018 Tax Rates Up to $131,220 10% Up to $128,145 10% In excess of $131,220 $13,122 + 12% on next $26,244 In excess of $128,145 $12,815 + 12% on next $25,628…

2018 Taxable Income 2018 Tax Rates Up to $36,926 8.7% In excess of $36,926 $3,213 + 14.5% on next $36,926 In excess of $73,852 $8,567 + 15.8% on next $57,998 In excess of $131,850 $17,731 + 17.3% on next $52,740…

2018 Taxable Income 2018 Tax Rates Up to $41,675 9.68% In excess of $41,675 $4,034 + 14.82% on next $41,676 In excess of $83,351 $10,210 + 16.52% on next $52,159 In excess of $135,510 $18,826 + 17.84% on next $18,872…

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…

2018 Taxable Income 2018 Tax Rates Up to $45,225 10.5% In excess of $45,225 $4,748 + 12.5% on next $83,989 In excess of $129,214 $15,247 + 14.5% on reminder

2018 Taxable Income 2018 Tax Rates Up to $31,843 10.8% In excess of $31,843 $3,439 + 12.75% on next $36,978 In excess of $68,821 $8,154 + 17.4% on reminder

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…

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…

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…

When to amend your T1 Return? You can amend your return when you discover any mistakes or omission on your original filed return which resulted in either an increase or decrease in the amount of tax payable. CRA’s preferred method Write a…

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…

Foreign Tax Credit Canadian resident for tax purposes or deemed Canadian residents who were present in Canada for 183 days or more in a taxation year is taxed on their worldwide income. So, they have to report their foreign income…

Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make important business decisions affecting its continued operations. Financial analysis is then performed on these statements, providing management with a more…

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. To prepare the financial statements, it is important to adhere to certain fundamental accounting concepts. Going…

Financial books and records including all Income Tax and GST/HST returns must be retained for six years starting from the end of the taxation year.