Filing IT returns

Canada, 25th October: There are several requisites for filing income tax returns in Canada.

An important thing to be kept in mind for filing IT returns is that one has to make use of the appropriate form required depending upon the particular Canadian province you reside in.

Filing Income tax return—There are a range of options for filing income tax return in Canada. However, if you want to file your income tax return fast, you must go for availing the services of any E-file service provider. Such a person providing services of E-file will charge a specified fee for filing your return.

IT returnsFiling your own tax return—For those who don’t want to pay a fee for income tax return filing process, the CRA (Canada Revenue Agency) allows to file your own tax return using the NETFILE system.

Requirements for filing IT return—An income tax return must be filed in the prescribed form along with various information with the Minister for every taxation year, states the Income Tax Act Subsection 150(1).

The act further states different set of guidelines for

  • General individuals;
  • Corporations;
  • Deceased individuals;
  • Trusts and estates.

General individuals—In case of general individuals, consider the following scenarios—

  1. Any individual involved in a business is required to file IT returns latest by 15th June the next year unless he incurred expenses during the course of the business that were solely tax shelter investment costs;
  2. Any person not owning any business is required to file IT returns latest by 30th April following the taxed year. An income tax return can also be filed on behalf of the individual by his or her legal representative, guardian or any special committee.

Trusts and estates—They need to file tax returns within a period of 90 days from the end of the year.

Corporations—The CRA requires a corporation to file a return for income tax if it—

  • Conducted business in Canada;
  • Was a Canada resident;
  • Disposed any taxable Canadian property; or
  • Got any taxable capital profit.

Deceased individual—A legal representative is required to file IT returns on behalf of the deceased individual who passes away after October. The IT return must be filed on the later of either of the following—

  • The day on or before which the income tax return would have been required to be filed; or
  • The day following six months after the date of the death of the individual.


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