Best Tax Preparation Services in Concord, ON

What is your Provincial income tax filing obligation? You need to file an annual income tax return in Canada if you are a resident of Canada during the tax year. If you are a non-resident of Canada, you only file an income tax return in Canada if you have income from Canada to report. When you file your income tax return in Canada, you pay federal and provincial income tax on your taxable income. Your income tax payable will be further reduced when you claim the federal and provincial tax credits. There are certain refundable tax credits, and if you are entitled, you will get the cheques from CRA if you have no income tax payable. Each province in Canada has its provincial income tax rates for individual income tax. Similarly, each province in Canada has its provincial tax credit and benefits.