Get Canada Tax Compliance Declaration Guideline & Form - Ontario 2008-2024

You Must File an Income Tax Return, if: You owe tax to the CRA. You are self-employed and have to pay your Canada Pension Plan (CPP) premiums. Same for paying Employment Insurance (EI) premiums on your self-employment earnings. You and your spouse/common-law partner want to split your pension income.

CRS requires financial institutions to identify clients who are residents of foreign countries other than the United States. CIBC identifies such clients by obtaining client attestation of foreign tax residency as part of the account open process. CIBC reports client information and account details to the CRA.

You are required to file an income tax return if you meet one or more of the following criteria: ➢ You are earning income, such as employment income, investment or other income, and owe tax to the CRA. ➢ You are a resident of Canada. This includes international students or individuals who travelled outside of Canada.

You have to file a T5 information return by the last day of February following the calendar year to which the information return applies.

A T4 is required to file your tax return in Canada, you can learn more about this form from the Canadian Revenue Agency (CRA).

You stayed in Canada for 183 days or more (the 183-day rule) in the tax year, do not have significant residential ties with Canada, and are not considered a resident of another country under the terms of a tax treaty between Canada and that country.

For most people, the 2022 return has to be filed on or before April 30, 2023, and payment is due April 30, 2023.

A Canadian tax return refers to the obligatory forms that must be submitted to the Canada Revenue Agency (CRA) each financial year for individuals or corporations earning an income in Canada.