If you were a deemed resident of Canada in 2018, you have to report your income from all sources, both inside and outside Canada. — Amounts that are not taxed in Canada —You do not have to report certain amounts as income,including all of the following:■ any GST/HST credit and CCB payments■ child assistance payments and […]
MASTERTAX is the business partner you have been looking for. Not all Canadians are familiar with federal tax regulations and how to file their tax returns. We are experts in Canadian Taxation and we can develop tax-minimization strategies to optimize your after-tax position and increase profit.
How much tax you’ll pay is determined by where you live in Canada, In Ontario we pay additional tax rates – – 5.05% on the first $43,906 of taxable income – 9.15% on the next $43,906-$87,813– 11.16% on the next $87,813-$150,000 – 12.16% on the next $150,000-$220,000