In Canada fiscal year ends up at the end of December (01/01-31/12).The deadline for file your tax return, and so your tax refund, is before April 30.
While the deadline for applying is April 30, you can start to file your tax return starting from January and you can apply up to 4 years back.
So it means that whether you apply this year, you can file your tax refund up to 2014!
To file your tax refund you’ll need your social insurance number (SIN) and the T4 or final payslip. The T4 is the annual earning document issued by your employer.
In Canada your income tax is composed by Federal and Provincial taxes.
Federal tax is mandatory and the same in all the Provinces.
If your income is less than Can$11.809, you don’t have to pay taxes.
After Can$11.809 tax rate goes from 15% up to the 33% of your taxable income.
Provincial tax changes according to the State where you declare your income.
Ontario goes from 5.05% of the first $42,960 of taxable income, up to 13.6% of the amount over $220,000;
Alberta from 10% of the first $128,145 of taxable income up to 15% of the amount over $307,547
British Columbia 5.06% of the first $39,676 of taxable income up to 16.8% if you earn more than $150,000.
You may be due for a refund if you overpaid your income tax but also if you overpaid the Canadian Pension Plan and the Employer Insurance.
To claim your refund for all these costs, you will still need your T4.
Don’t wait for the last minute! Apply for your tax refund.Dendax online registration is quick and easy. Here you can calculate for FREE
the amount of your refund.