
Personal Tax Return Preparation (T1)
Personal Tax Return Preparation (T1)


Corporate Taxes & Accounting Services
Canadians can file their personal income taxes with the Canada Revenue Agency using the T1 General Return, generally known as the Income Tax and Benefit Return (CRA). This tax form offers a summary of the individual's personal financial information as it appears on various other CRA tax forms. This includes federal and provincial taxes and net income, taxes due, deductions, credits, and more.
A T1 income tax return is required for the majority of Canadian residents. However, the province where individuals live and work impacts the necessary tax papers to show their income and tax situation to the Canada Revenue Agency (CRA). It also affects the kind of deductions and credits that an individual can claim. A majority of individuals are required to complete and file a T1 General tax form. A T1 return is not necessary for separate legal organizations that are required to file separate filings, such as corporations or partnerships. Instead, corporations and partnerships will need to file a T2 Corporate Return and a T5013 Partnership Return. You must submit a T1 General Return if you are an employee of a company, self-employed, or an employer that operates a business as a sole proprietorship or partnership.
The best way to get T1 General is to go to the Canada Revenue Agency's website and download the T1 General Return Package. You must select the province where you resided during the tax year. All federal and provincial income tax return forms must be filed for you. The business form of your company determines the tax return you must prepare and file for your small business. Your business revenue is reported on your T1 personal income tax form as a sole proprietorship or partnership.
Deadline for T1 Tax Returns and applicable schedules:
The T1 General tax filing date is April 30th of the year in which the tax returns are due. Self-employed persons, as well as their spouses or common-law partners, must file by June 15th if they have any of the following:
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Business
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Any type self-employment
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Contractor type jobs
But if any taxes are owing, the instalment MUST be paid by April 30th to avoid any interest.