Are you someone who is seeking some elementary facts regarding the filing of your tax return with this rapidly approaching mid-year 2021? Sit back and just refer to the points that we are discussing below for those who are filing a Canadian tax return for the first time or is confused regarding the process.
The very first information that you need to note is the Canadian tax year runs from January 01 to December 31.
There are majorly 3 types of taxes that you need to pay and are collected by Canadian Revenue Agency (CRA)-
A document in the name of T4 is provided by employer to the employees, which elaborates the respective tax summary. This T4 document will outline how much tax has been paid by you. If you do not want to be a part of unwanted hustle and confusion, here are things that you make sure while filing your tax return–
Tax payment can be a lengthy process. You have to make sure that you follow the instructions carefully to avoid any discrepancy. In next blog, we will discuss the tips on how to make the tax payment easy.
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