Filing Taxes as a Canadian Resident: Start Confidently
What ‘Canadian Resident for Tax Purposes’ Really Means
CRA looks at your home, spouse or partner, dependants, provincial health card, driver’s license, and bank accounts. When Maya kept her Toronto apartment during a long contract abroad, she remained a Canadian resident. Share your situation and we’ll help clarify.
What ‘Canadian Resident for Tax Purposes’ Really Means
Factual residents have significant ties in Canada. Deemed residents may qualify through time spent in Canada. Non-residents typically lack key ties. Snowbirds often misjudge status, so track stays carefully. Subscribe for a quick residency checklist you can reuse yearly.
What ‘Canadian Resident for Tax Purposes’ Really Means
If you moved to Canada, you generally report world income from your arrival date. Returning Canadians often restart provincial health coverage and re-establish ties. Get your SIN ready, gather travel dates, and ask us questions below to avoid missing credits.
Income Sources and the Slips You’ll Collect
Expect a T4 for employment income and T4A or T4A(P) for certain pensions. Box details include CPP and EI. Match totals to your final paystub. Comment if your numbers differ; we’ll walk through a reconciliation approach you can use every year.
Income Sources and the Slips You’ll Collect
Investments often produce T5 and T3 slips for interest and dividends, plus capital gains summaries. Gig or self-employment income requires careful tracking and a T2125 statement. Keep invoices and expenses organized monthly. Subscribe for our downloadable ledger template and quarterly reminder emails.
Deductions and Credits That Actually Move the Needle
RRSP contributions reduce taxable income, and the deadline is usually 60 days after year-end. Coordinate with year-end bonuses and marginal rates for maximum impact. TFSAs are great, but not deductible. Subscribe for our calendar reminders to plan contributions confidently.
Provincial Nuances (and Quebec’s Separate Return)
Each province and territory sets its own rates and offers unique credits. Energy rebates, low-income supports, and education measures vary. Bookmark official pages. Share your province in the comments, and we’ll point you toward the most relevant programs.
Provincial Nuances (and Quebec’s Separate Return)
You must file a federal return with CRA and a provincial one with Revenu Québec. Watch for RL slips alongside T-slips. Some credits are province-specific. Subscribe for our bilingual checklist to coordinate both filings without duplicating or missing claims.
Reporting Foreign Income and Assets the Right Way
Report income earned abroad and convert using the Bank of Canada rates. Claim foreign tax credits to avoid double taxation. Keep statements and proof of foreign taxes paid. Subscribe for our currency conversion guide and worksheet templates you can reuse annually.
Reporting Foreign Income and Assets the Right Way
If your specified foreign property cost exceeds CAD 100,000 at any time, file Form T1135. It’s a disclosure, not a tax bill, but penalties are steep for missing it. Ask questions below; we’ll help you determine whether you meet the threshold.
Avoiding Mistakes and Building a Stress-Free System
Common slip-ups CRA sees
Missing small T5s, double-claiming tuition, or forgetting capital gains from a non-registered account are frequent issues. One rushed filer lost receipts and a credit. Comment with your top worry, and we’ll share a targeted fix before filing day.
A simple record-keeping routine
Create monthly folders, scan receipts, and reconcile CRA My Account with your own ledger. Keep mileage logs and donation receipts. Retain documentation for six years. Subscribe to receive our monthly reminder checklist and secure cloud folder setup guide.
When to get professional help
Consider a pro if you have self-employment, rental properties, foreign assets, disability claims, or complicated residency questions. Interview advisors and confirm CRA representation procedures. Share your situation, and we’ll suggest questions to ask before you engage anyone.