Personal Tax Preparation
We closely collaborate with our customers so as to get their particular requirements, adjusting our plans according to their unique circumstances. Our associates and workers have a proactive, practical standpoint by monitoring new laws that might affect financial objectives and giving constant counseling.
Tax planning and preparation can be complex, requiring expertise to claim eligible expenses and credits (such as medical, tuition, and disability) to minimize tax liabilities and maximize returns. By entrusting us with your tax preparation, you can reduce your tax liability and ensure you don’t overpay.
As per CRA, the following categories of people are required to file a Personal tax return:
Canadian Residents,
Immigrants or Newcomers,
Indigenous People, and;
Filing for Deceased people
International Students (see below),
Non-residents of Canada with Rental Income,
Deemed Residents, and;
Seasonal Workers
As a student, you may be focused on getting better grades in school or planning for an epic weekend party at your friend’s house. You might think that being a full-time student exempts you from filing taxes. However, if you are considered a 'deemed resident' of Canada, you are required to file your taxes.
You are deemed a resident of Canada for income tax purposes when you establish significant residential ties in Canada. Typically, these ties are established on the date you arrive in Canada. For instance, if you arrived in Canada on December 30th, 2022, you must file a student tax return for the 2022 tax year.
Our student tax return services are here to assist you with everything related to tax. Depending on your circumstances, we can offer you:
We closely collaborate with our customers so as to get their particular requirements, adjusting our plans according to their unique circumstances. Our associates and workers have a proactive, practical standpoint by monitoring new laws that might affect financial objectives and giving constant counseling.
Tax planning and preparation can be complex, requiring expertise to claim eligible expenses and credits (such as medical, tuition, and disability) to minimize tax liabilities and maximize returns. By entrusting us with your tax preparation, you can reduce your tax liability and ensure you don’t overpay.
We closely collaborate with our customers so as to get their particular requirements, adjusting our plans according to their unique circumstances. Our associates and workers have a proactive, practical standpoint by monitoring new laws that might affect financial objectives and giving constant counseling.
Tax planning and preparation can be complex, requiring expertise to claim eligible expenses and credits (such as medical, tuition, and disability) to minimize tax liabilities and maximize returns. By entrusting us with your tax preparation, you can reduce your tax liability and ensure you don’t overpay.
Tax experts at Canadian Tax Group work seamlessly to deliver effective tax preparation and management services for businesses.
Based on the nature of your file, our experts also assess the possible deductions to be included in your personal tax return.
Employment Income- T4, T4A
Pension and Annuities- T4A, T4A(OAS), T4A(P), T4RIF, T4RSP
Investment Income- T5, T3, T600, T5008, T5013 OR T5013A
Rental Income
Registered Retirement Savings Plan (RRSP) Income- T4RSP
Schedule of Capital Gains and Losses
Income from Self Employment
Other Income, including the following slips- T4E, T4PS, T5007, RC62, RC210
CRA outlays the list of several tax credits to individuals on their personal tax returns based on their circumstances.
Employment Expenses- Form 2200
Investment Income- T101, T102, T5003, T5004, T1-CP
Expenses Relating to a Rental Property
Registered Retirement Savings Plan
Contributions – up to March 1 of the following fiscal year
Membership Fees, Union and Professional Dues
Moving Expenses
Child Care Expenses
Disability Support Expenses
Allowable Business Investment Losses (ABIL)
Legal Fees
Stock Options
Income Tax Installments Paid
Pension Adjustment Reversal/Past Service Pension Adjustments- T10/T215
Fines, Penalties and Levies
Based on the nature of your file, our experts also assess the possible deductions to be included in your personal tax return.
Employment Income- T4, T4A
Pension and Annuities- T4A, T4A(OAS), T4A(P), T4RIF, T4RSP
Investment Income- T5, T3, T600, T5008, T5013 OR T5013A
Rental Income
Registered Retirement Savings Plan (RRSP) Income- T4RSP
Schedule of Capital Gains and Losses
Income from Self Employment
Other Income, including the following slips- T4E, T4PS, T5007, RC62, RC210
CRA outlays the list of several tax credits to individuals on their personal tax returns based on their circumstances.
Employment Expenses- Form 2200
Investment Income- T101, T102, T5003, T5004, T1-CP
Expenses Relating to a Rental Property
Registered Retirement Savings Plan
Contributions – up to March 1 of the following fiscal year
Membership Fees, Union and Professional Dues
Moving Expenses
Child Care Expenses
Disability Support Expenses
Allowable Business Investment Losses (ABIL)
Legal Fees
Stock Options
Income Tax Installments Paid
Pension Adjustment Reversal/Past Service Pension Adjustments- T10/T215
Fines, Penalties and Levies
FAQS
Filing your taxes with Canadian Tax Group Inc. is easy and convenient. Simply visit our website and create an account if you haven't already. From there, you can access our user-friendly online platform, where you'll be guided through the tax filing process step by step. Our platform is designed to make it as straightforward as possible, and if you ever have questions or need assistance, our expert team is just a message or a phone call away. We're here to support you throughout the entire process.
To prepare your taxes accurately, we need various documents, including W-2s, 1099s, receipts for deductible expenses, mortgage interest statements, and records of other income or investments. Please also bring your previous year's tax return for reference.
Our team of experienced professionals follows meticulous procedures to ensure accuracy. We stay updated with the latest tax laws and double-check every return. Additionally, our services include a review process to catch any potential errors before submission.
If you receive a tax audit notice, contact us immediately. Our experts will guide you through the process, help you understand the notice, and represent you during the audit to ensure your interests are protected.
Tax planning helps you make informed financial decisions throughout the year, potentially reducing your tax liability and maximizing savings. Our personalized tax planning services ensure that you take advantage of all available deductions, credits, and strategies tailored to your unique situation.
Absolutely. We offer hassle-free tax extension services to ensure you meet IRS deadlines. We handle all the necessary paperwork and submit your extension request, giving you extra time to prepare your tax return accurately and avoid penalties.
Our Office
Address : 200 - 116 Albert St, Ottawa ON K1P 5G3
Email: [email protected]
Phone : 1-778-222-2558