Tax Tips - Here you can find some TAX Tips and other general information.
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How long it will take to get Refund ?
- Usually most refunds done by our office are refunded within 2 Weeks.
When should I fill my taxes ?
- Generally, your return for 2017 has to be filed on or before April 30*, 2018.
June 15 - If you or your spouse or common-law partner ran a business in 2017. You are still required to pay your taxes by April 30 if you owe money to the government.
There are some exceptions: Due Date is on Saturday or Sunday or a public holiday recognized by the CRA.
What are the current TAX brackets ?
- 15 percent on the first $46,605 of taxable income
- 20.5 percent on the next $46,603 of taxable income, on the portion of taxable income over 46,605 up to $93,208
- 26 percent on the next $51,281 of taxable income, on the portion of taxable income over $93,208 up to $144,489
- 29 percent on the next $61,353 of taxable income, on the portion of taxable income over 144,489 up to $205,842
- 33 percent of taxable income over $205,842.
RRSP contribution deadline ?
You have to contribute by March 1st or February 29 ( leap year ), For your contribution to be eligible for deduction for previous tax year.
References: CRA - Canada Revenue Agency