Tax Tips-Newcomers to Canada

  • You need to establish residential ties in Canada to become a resident of Canada (for income tax purposes)
    • Residential ties:
      • Rented or owned home
      • Spouse living in Canada
      • Dependant in Canada (children, older parents, etc.)
  • Tax Return
    • As a Canadian resident, in order to pay taxes or if you want to claim a refund you must file a tax return
    • Personal tax returns (of this year) should be filed by April 30 of the next year
  • Three things on the tax return that should be completed before submitting it:
    • Identification: Page 1 of the tax return needs to be completed in its entirety
    • Entry Date in Canada: this should be the date when you became a resident of Canada for Income Tax purposes
    • Spouse Information: spouse’s yearly net world income
  • Benefits new comer’s can claim
    • Canada Child Benefit (fill form RC66)
      • Helps with the costs to raise children under the age of 18 years.
      • Families with children under 6 years – $6,400 per child
      • Families with children between 6 years and 17 years- $5,400
      • Family income is also considered, as well as any disabilities the child may have.

The IDM Team

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