Taxccount's Blog
How to apply for GST/ HST credit in Canada?
- January 30, 2023
The Goods and Services Tax (GST) Credit, referred to as the Harmonized Sales Tax (HST) Credit in certain provinces, is a tax-free payment issued by the Canadian government every quarter.
20 popular Canadian tax deductions and credits in 2023
- January 10, 2023
The taxation system of each country is different. If you have just moved to Canada and are still figuring out the tax system, then this chapter will be really helpful for you. You will understand in detail about the 20 most popular Canadian tax deductions and credits relevant in 2023.
Taxes for new Canadians: Step-by-step guide for filing your taxes
- January 03, 2023
If you are a newcomer in Canada and are filing your taxes for the first time, it can be a daunting and overwhelming experience. But when you have the right information, the process gets easier.
Are you required to file an income tax return?
- December 30, 2022
When you generate income through employment, your employer is required to withhold tax installments from each paycheck and forward them to the Canada Revenue Agency (CRA).
Tax breaks for newcomers in Canada
- December 21, 2022
Moving to Canada might seem to be an easy decision considering the vast opportunities it offers. But the one thing that most people tend to forget is the taxation system. Gaining insight into the functioning of income tax in this context can enable you to utilize tax advantages, which encompass potential financial benefits through government payments.
What is eligible dividend in Canada?
- November 09, 2022
Dividends represent the distributions made to investors from a company's profits. Among these dividends, some are categorized as eligible, while others are termed ordinary or ineligible dividends.
Comprehensive guide to dividend taxes in Canada
- November 30, 2022
Most investors know that dividends are a part of taxable income in Canada. The dividend amount is established by the company's board of directors, and if there are profits allocated for shareholders, they are disbursed on a quarterly basis.
Non-refundable tax credits
- January 21, 2023
Non-refundable tax credits are designed to reduce your federal tax obligation, but they do not result in a tax refund. In contrast, refundable tax credits not only lower your required tax payment but can also trigger a tax refund from the government.
Difference between refundable and non-refundable tax credits
- January 14, 2023
For a lot of people in Canada one of the biggest incentives for filing taxes is to get a refund. Usually, people don’t know what are tax credits and cannot take advantage of them. But in this chapter, we’ll discuss what are tax credits and the main difference between refundable and non-refundable tax credits.
Taxes for New Canadians: Step-by-Step Guide to Filing Your Tax Return
- January 07, 2023
We hope Canada welcomed you with open arms! Now that you have made this country your home and have slowly settled in, it is time to understand the taxation system. You might be paying income tax in the country that you were previously living.
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