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Canadian personal taxes

Understanding your Canadian personal taxes

The tax system is very complex and most people only have a very basic understanding of it. The Canada Revenue Agency (“CRA”), is aware of this fact and is making an effort to provide more information to taxpayers.

Take advantage of CRA’s resources

CRA personal tax centre

We recommend registering for your “My account for individuals” with CRA.

My account for individuals

My account is an excellent resource to determine your current:

  • RRSP balance
  • TFSA balance
  • Balances owing to CRA
  • Make changes to a return
  • And many other important functions
  • We also recommend using the business version of the CRA portal

Do you know what CRA considers as a valid medical expense?

CRA has provided a detailed listing of valid medical expenses

Do you know that CRA provides a listing of free personal tax software?

Taxation software

Completing your personal tax return correctly is not an easy task as it requires a functional understanding of all the required inputs. Professional tax software aids in the process of completing the return. However, not everyone requires professional service to complete their returns.

  • Take advantage of some of the free software offered to complete your tax filings.

Rental expenses you can deduct

Ensure you are claiming all your deductions

Want to understand more about your Canadian business taxes

Learn more

It's tax season

Are you ready?
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