Who should file Income tax Return?

Income tax act defines a tax payer as any person whether or not liable to pay tax. An individual tax payer must file tax return if he or she is:-
•Has tax owing;
•Has disposal of capital property (no owned property) or had a taxable capital gain
•Has to repay any old age security benefits or employment benefit insurance benefits received
•Withdrawn amount under lifelong learning plan or home buyers plan that have not been repaid.
•Required to make contribution to Canada pension plan (CPP)
•Received a demand from the CRA to file return
•Claimed capital claim reserve on last years return
•Incurred a non-capital loss and wants to able to apply it to other years
•Carry forward unused amount of current year return i.e tution fees , education amount or Registered Retirement Saving Plan( RRSP) contribution
•Want to claim refund
•Apply for the GST/HST credit
•Continue receiving of Canada Child Tax benefit
•Applied for working capital income tax benefit for last tax year or advance working capital income tax benefit for the current year.
•Receive or continue to receive Guaranteed income supplement or allowances benefit from the old age security program
•Split pension income with their spouse or common law partner

What are the deadlines for filing returns for the individuals and corporations?

For Individuals
•The due date of return is on or before April 30 of the next year
•June 15 if individual or spouse carried on an unincorporated business

For Deceased individuals
•Normal filing deadline as stated above
•exception: if an individual dies after October in the year and before the filing date (i.e., April 30 or June 15), the return must be filed by the later of:
•six months after the date of death; and
•Normal filing date following the particular year

Corporations

– within six months after the end of the taxation year

What is Canada Child Tax Benefit (CCTB)?
•Tax-free monthly payment made to eligible families to help them with the cost of raising children under age 18
•May also include the National Child Benefit Supplement and Child Disability Benefit
•Amount depends on number and ages of children
•CCTB payments may be invested in child’s name without attribution of income
•Benefit reduced when family net income exceeds $41,544

Can I get the Canada child tax benefit?

To be eligible, you must meet all the following conditions:
•you must live with the child, and the child must be under the age of 18;
•you must be primarily responsible for the care and upbringing of the child;
•you must be a resident of Canada; and
•you or your spouse or common-law partner must be a Canadian citizen, a permanent resident, a protected person, or a temporary resident who has lived in Canada for the previous 18 months, and who has a valid permit in the 19th month

How much Universal Child Care Tax Benefit (UCCTB) I will get monthly?
• The Universal child care benefit is $100 taxable monthly payment for each child under age 6 and paid separately from CTTB

Who is Eligible for GST/HST Credit?
•Payments to Canadians with low and modest incomes to offset GST/HST they pay on the purchase of goods and services.
•Calculated based on the recipient’s net income added to the net income of spouse, minus any amount the recipient, his or her spouse or common-law partner reported for the Universal Child Care Benefit on line 117 of their Income Tax and Benefit Return. The number of dependent children registered for the Canada Child Tax Benefit or the GST/HST Credit is also used in the calculation of benefits.
•The applicant must be 19 years of age or older, have (or previously had) a spouse or common-law partner, or be (or previously was) a parent and live (or previously lived) with their child.
•The GST/HST credit recipients must inform the Canada Revenue Agency of all changes, such as a change in the number of dependent children or marital status, in order to have the payments adjusted. The credits can be adjusted during the year.
•Other criteria may apply.
•To receive the GST/HST credit, the recipient has to apply for it, even if it was received in the previous year. To apply, the recipient must file an Income Tax and Benefit return, even if there is no income to report. Eligible taxpayers may apply for the credits any time during the year in which they meet the requirements.
•New residents of Canada may apply for GST/HST credit at any time in the year they become residents of Canada by completing Form RC151, GST/HST Credit Application for Individuals Who Become Residents of Canada.
•The GST/HST credit is issued four times a year: January, April, July and October (generally the fifth day of the month).

What is Employer Health Tax (EHT)?
•Employer Health Tax is a payroll tax (payable by employers) on remuneration paid to employees by employer
•In general, remuneration means employment income (box 14 of Canada Revenue Agency’s T4 slip) that is taxable under sections 5, 6 or 7 of the Income Tax Act (Canada).
•An employer is someone who pays remuneration to an employee. Examples of an employer include: an individual, a corporation, a government, a university, a school board, a hospital, a non-profit organization, a charity, a trust, a partnership, a joint venture or an unincorporated association.
•There are nine graduated tax rates, ranging from .98% to 1.95%.
•The exemption would be Increased from $400,000 to $450,000 to provide greater EHT relief
•Eliminated for private-sector employers (including groups of associated employers) with annual Ontario payrolls over $5 million. Registered charities would continue to claim the exemption at all payroll size.

Who and when to register for Workplace Safety and Insurance Board (WSIB)?
•Almost all businesses need to register, whether their workers are full-time or part-time.
•Most businesses in Ontario must register with the WSIB within 10 days of hiring their first worker.
•If you are an independent operator, sole proprietor, partner or executive officer, and you work or carry on a business in construction, you must have WSIB coverage (some exemptions apply).