Personal Tax


Do I have to file an income tax return if I have no income to report?
Yes. You and your spouse or common-law partner (if you have one) have to file income tax returns reporting that you have no income, so that CRA can correctly calculate your entitlement for GST credit, various provincial benefits and  Canada Child  Benefit (CCB). You have to file your personal tax return every year to ensure that your cash benefits continue.

Do I have to file income tax return?

There are a number of situations that you are required to file a tax return. Most important ones are:

  1. You have any tax payable
  2. you disposed of any capital property such as rental or stocks in the year
  3. you are under demand by CRA to file a tax return
  4. You have Home Buyers Plan or Life Long Learning Plan or CPP payable

What is spousal amount?

If you supported a spouse or common law partner during the year, you can claim them as a dependent. However, your spouse’s earnings will limit your claim. For spouses who are out of the country, proof of support is required.

What is an eligible dependent?

If you were single, divorced, separated or widowed at some time during the year, and supported a child under 18 who is related to you by adoption or in fact, your parents, grandparents, brother or sister over 18 but infirm or disabled, you may claim an eligible dependent amount for that dependent. The dependent’s income however, could affect your claim.

What is the deadline for tax filing? and What are the repercussions if I don’t file tax in time?

You should file your income tax by April 30th for the previous year. For example, tax returns for 2016 are due by April 30th of 2017. If either you or your spouse is self employed, then your filing due date will be June 15th of the next year. If you are late and have any balance owing on your tax return, you may be subject to penalty of 5% and interest as per CRA’s annual interest rates for any outstanding balance. If you have a refund in your tax return then there will be no penalty or interest charged.

What should I bring when I have an appointment for filing personal tax at Alvox Accounting & Tax Services?

You should bring all the information slips that reveal your income or deductions from different sources such as T4, T4A, T2202A, T5, RRSP Statements, Mortgage Statement, donations and anything that you feel may be pertinent to your tax return. At Alvox Accounting & Tax Services we can advise you if any of those documents are not related to your return or if there is further information to be provided. For instance, if you are an employee, bring all your T4s. If you have a business, bring a financial statement or all the receipts, bills and invoices relating to the operation of your business. If you have a rental income, we need to have the total rent you collected along with a detail of all the expenses related to the rental property such as mortgage interest, advertising, taxes, telecommunications, repairs and maintenance. Click here for a complete list of documents relating to your income, expenses, deductions, credits, receipts and slips. If you have any specific situation please call us to find out what you need to bring for tax filing.

What are the charges for filing personal tax return?

Personal tax return charges start from $25.  The charges may vary from person to person depending upon the number of slips, claiming other credits and complexity of your tax return. Please feel free to call us or send us an email at info@alvox.ca for details and quote. Oh! by the way….we are very friendly and flexible people. Feel free to call us for any questions about our fees.

Do you charge anything for e-filing the tax return?
No, e-filing is absolutely free!