Filing Your Taxes – for Newcomers

March 9, 2018 | Suzanne

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Collecting Money

With the deadline quickly approaching, it’s time to get the ball rolling on filing your income taxes for 2017! If you’re like most Canadians, you are gathering together everything you need to file your taxes by the April deadline. This differs if you have your own business or are self-employed, but for most of us, the deadline is Monday, April 30.

Did you know the Toronto Public Library has many free income tax clinics located at branches throughout the city? Many of them require you to register or have a particular income level, so please read carefully and contact the branch for more information.

Many libraries also have Settlement Workers who can give you more information about filing your taxes. If you are new to Canada, it can be especially helpful to discuss any questions you might have about how it all works.

I like these helpful tax tips for newcomers shared from a recent article in the Huffington Post:

  • Find out when you’re considered to be an official resident. It may be even before you arrive in Canada if you already own property or have a bank account here.
  • Apply for the GTS/HST credit, a tax-free quarterly payment.
  • If you are a new resident and have children under 18, you may qualify to receive the Canada Child Benefit.
  • Find out if your income from another country is tax exempt. Canada has tax treaties with almost 100 countries.
  • You can claim your moving expenses if you are relocating for a new job.
  • If you are buying a home for the first time, you may be eligible for the First Time Home Buyers Tax Credit.                                                               

The Canadian government also has a section of their website dedicated to helping newcomers file their taxes and a handy pamphlet that introduces you to the Canadian tax system. Are you filing your taxes online? Find out about which certified software you can use to complete your tax return.  

Still want more? Please visit this blog post from 2017 for a helpful and comprehensive guide to filing your tax return for the first time:

Filing Your First Tax Return in Canada: Free Resources for Newcomers

Good luck filing your taxes this tax season. 

If you’re lucky, you’ll be as happy as this guy by the end of it! 

Time and Money