“In this world nothing is certain but death and taxes.” – Benjamin Franklin –
Introduced as a temporary measure to finance the 1918 war effort, Income Tax is with us to stay.
Yes, our Firm can prepare your personal income tax returns if you are:
- Self-employed
- Sole proprietorship and partnerships
- Employed professionals
- Married or common-law couples
- Those with dependents
- Students
Let us take the burden of tax time off your shoulders. We are on top of all the latest developments of Canada’s Income Tax Act. If you are looking for fast, accurate, and thorough personal tax credit returns, you’ve come to the right place. Let us help you!
Call today for a free, no obligation consultation with our team of accountants so we can help reduce your exposure to income taxes.
People also Ask
What falls under personal income tax?
Personal Income Tax: This tax is levied on an individual's wages, salaries, and other types of income such as pensions and interest. It is based on the percentage of income that an individual earns over their exemption limit. It is tacked on to that income in addition to applying the surcharge or cess.
What is the maximum limit of tax free personal income?
The basic personal tax-free allowance has been increased by $579 from $13229 to $13,808 in 2021. This means you can earn up to this amount without paying federal tax on your income and your employer is not allowed to ask for more pay.
What is the difference between income tax and personal tax?
Personal income tax is a tax on your wages, salaries, investment income, and other types of income. Payroll taxes are included in your employer's salary or wages, but are sometimes called supplemental pay. Excise taxes apply to products or services that you purchase, while sales taxes apply to many things you buy including food and clothing.