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Home  ->  Personal Income Tax

Personal Tax Information

Due dates for filing personal tax returns in Canada

Personal Income Tax Calculators, RRSP/RRIF calculators, investing calculators and more

COVID-19 Benefits - T4A Tax Slip Errors

Tax Rates

 - current and prior years tax brackets and combined federal/provincial marginal tax rates for eligible and non-eligible Canadian dividends, capital gains and other income.

Filing Your Return

 - includes detailed information about income, deductions, and many tax credits

2024 Life in the Tax Lane

 - 10 minute rapid-fire discussion videos from the Video Tax News Team, for Canadian Tax and Financial Professionals.

Life in the Tax Lane videos from previous years:

2023 Life in the Tax Lane  | 2022 Life in the Tax Lane  |  2021 Life in the Tax Lane  |  2020 Life in the Tax Lane  |  2019 Life in the Tax Lane  |  2018 Life in the Tax Lane  |  2017 Life in the Tax Lane  |  2015 & 2016 Life in the Tax Lane

Tax Comparisons

 - of taxes payable for all provinces/territories for employment income and investment income (dividends vs interest)

Payroll Taxes - CPP and EI

Non-Refundable Personal Tax Credits

Dividend Tax Credits - for both eligible and non-eligible dividends

Government Benefits, Programs and Services - Federal & Provincial

RRSPs, TFSAs and other government-assisted registered savings plans

Dealing with Canada Revenue Agency

Classification of Land as a Farm in British Columbia

Personal Income Tax Articles

How is income tax calculated in Canada?

Resident vs Non-Resident Tax Status - Who has to pay tax in Canada, and on what income?

Barter and BitCoin / cryptocurrency transactions can result in taxable income and deductible expenses.

Selling goods on eBay may result in taxable income.

Why should I file if I don't have income or have to pay tax?

Income splitting- Make sure both spouses will have the same annual income when they retire.

Tax planning - plan ahead!

Leaving Canada

Gifts and inheritances - are they taxable?

Medical expenses - Claim them on the tax return of the spouse with the lowest income (usually).

Shareholder loans and their tax implications

Tax shelter donation arrangements, and gifts of property.

US estate tax may be payable by Canadian residents.

US taxes withheld from gambling or lottery winnings of Canadian residents.

Students - Scholarships and awards, tax credits, moving expenses, private school, etc.

Free taxation videos, seminars and other events

Taxpayer Rights / Taxpayers' Ombudsperson

Employee Tax Topics

Disability insurance - Pay your own premiums!  Also if you're self-employed!

EI tax slips are available online

Employee vs self-employed independent contractor

Employment expenses - what can be deducted? - Includes working from home expenses.

Multiple jobs:  I worked 3 different jobs at the same time last year - why do I owe so much income tax?

Part time work and tax deductions - I worked only 3 months this year - why did I pay so much income tax?

Severance and retiring allowance - defer tax

Take-home pay calculators

TD1 forms:  Make sure yours are up-to-date, TD1X forms for commission employees

Employee and partner GST/HST rebate for those who have deductible employment or partnership expenses

Employees of foreign firms - what tax must be withheld by your employer?

Non-resident workers in Canada - employees, service providers, actors

Retention of books and records by an individual (including tax returns)

T4 slips - when are they required?

Employees - Taxable Benefits and Tax-Free Benefits

Employee Loans and Loan Subsidies may result in a taxable benefit to the employee

Employee Parking - new/updated CRA administrative policies announced in late 2022

Employer Provided Social Events - Taxable Benefit To Employees (sometimes) - new/updated CRA administrative policies announced in late 2022

Gifts From an Employer May Be a Taxable Benefit - new/updated CRA administrative policies announced in late 2022

Tax-free motor vehicle allowances

Tax-free, Reduced Tax, and Taxable Employee Benefits

Investing Tax Topics

Attribution Rules re Gifts, Transfers, or Loans to a Spouse or a Related Minor Child

Capital gains and losses

Foreign spin-offs - Tax deferral for distributions.

Interest expense on money borrowed to purchase stocks and bonds (securities) - can I write it off?

Interest expense paid to a non-resident

Investment losses - Make use of them.

Superficial losses and other disallowed losses

Tax issues re investments, and tax treatment of different types of investments

Tax rates on investment income - Try to earn your investment income (outside of RRSPs) at the lowest tax rate possible.

Transfer capital losses to a spouse

Transfer shares to your RRSP, but not at a loss!

Offshore investment schemes - warning from CRA

Property Rental, Real Estate

What expenses can be deducted from property rental income?

Change in use - What happens if I move into my rental property, or start renting out my home?

Real estate sales - are they taxable?  What about my principal residence?

Tax implications of owning a cottage or second home

Can I write off interest expense on money borrowed to purchase real estate?

Interest expense paid to a non-resident

Non-capital loss

Revised: March 23, 2024


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