|
Canada
Taxation
Canadian
residents can benefit from programs that have been paid for from
their taxes and payroll contributions. These programs include social
assistance for people in need; employment insurance for workers who
have lost their jobs; worker's compensation for workers injured on
the job; old-age pensions for citizens 65 years of age and older.
Income
tax
Canadians
pay a variety of taxes. Income taxes are used by governments to
provide services, such as roads, schools and health care. All
residents of Canada are subject to income tax. Each year you must
submit an Income Tax and Benefit Return to tell the government how
much money you earned and how much tax you paid. Taxes are deducted
automatically from most income you receive. If you paid too much,
you will get a refund. If you paid too little, you will have to pay
more.
Filing
an income tax return is extremely important. You will need to file
one each year to qualify for various government benefits, such as
the Canada Child Tax Benefit and the Goods and Services
Tax/Harmonized Sales Tax (GST/HST) Credit. You can get the forms for
the federal income tax from any post office or Canada Customs and
Revenue Agency tax services office. Canada Customs and Revenue
Agency has several publications for newcomers which should be
helpful. (Call 1-800 959-2221 or visit www.ccra.gc.ca/forms)
They also have volunteers who can help you fill out your tax forms,
under the Community Volunteer Income Tax Program. This is a free
service. The deadline for completing your tax return is
April 30 of each year. Remember, if you lived in Quebec during
the year you will also have to file a separate provincial tax
return.
Other
taxes
Whenever
you buy something, a Goods and Services Tax (GST) will be added to
the price. This includes everything from socks to a new house. You
may also pay a provincial sales tax (PST), which varies from
province to province. If you own your own home, you will also pay
property and school taxes. For more information on these taxes,
contact either your local school board or your municipal government.
To
find out more...
Contact
-
Canada
Customs and Revenue Agency,
-
the
provincial Ministry of Revenue, or
-
your
local school boards, all of which are listed in the telephone
book.
|