Straight answers to the questions we hear most about Canadian income tax.
When is the tax filing deadline in Canada?+
For most individuals, 30 April following the tax year. Self-employed individuals and their spouses have until 15 June to file, though any tax owed is still due by 30 April to avoid interest.
Do I need to file if I have little or no income?+
Filing isn't always mandatory below a certain income, but it's often worthwhile — you may be eligible for refundable credits (like the GST/HST credit) or a refund of tax withheld, which you can only claim by filing.
What is a Notice of Assessment?+
It's the CRA's summary of your tax return after processing, confirming your refund or balance owing, and your RRSP contribution room for the following year.
Is RRSP or TFSA better for my situation?+
An RRSP tends to suit higher earners now who expect a lower tax rate in retirement, since contributions are deductible today. A TFSA suits situations where you might need the money sooner, since withdrawals are always tax-free. See our
full comparison.
What's the difference between CPP and EI?+
CPP (Canada Pension Plan) funds retirement, disability, and survivor benefits. EI (Employment Insurance) funds temporary income support if you lose your job or take certain leaves. Both are separate payroll deductions from income tax.
Do I pay tax if I have income from multiple provinces?+
Generally, you're taxed based on your province of residence as of 31 December, regardless of where the income was earned within Canada — you don't file separately in each province you worked in.
Is a TFSA withdrawal taxable?+
No. Withdrawals from a TFSA are never taxed, and the withdrawn contribution room is added back the following calendar year.
Do students need to file taxes?+
Even with low or no income, students often benefit from filing — to claim tuition tax credits, carry forward unused credits, or receive GST/HST credit payments.