Once under the purview of colonial governments, the income tax we now know only became law in 1917 with the introduction of the Income Tax War Act. One way or another, taxes have been around since the confederation of Canada.

To achieve this, you should have a good understanding of what income tax is and what products are available to make your tax return easier. You want to limit your amount owing and maximize your return and that means finding the right software. Cost-effective and convenient, picking the right software is essential to recuperating as much as possible. That’s why countless households are turning to tax software to complete their filing.

Tax season is stressful enough without having to worry about paying an accountant to file on your behalf. Factoring in benefits (refundable and non-refundable alike), deductions, and your income, you’ll either get a return or end up owing.įind out if your Covid-19 benefits are taxable ? Income tax is when you settle up your account with the government. While COVID-19 changed a lot of things, it has not impacted the nature of this yearly obligation. The legal obligation of every Canadian citizen, tax season extends from March until April 30 of each year.

Every spring, as the grass regains its green and the days lengthen, one thing looms on the horizon: tax season.