06/30/2025
You need to Learn how taxes work in Canada!
This is a guide only! Always consult a Financial specialist.
🧾 Tax Tips for Newcomers to Canada
1. File Taxes Even If You Have No Income
You may still be eligible for benefits like the GST/HST credit or the Canada Child Benefit (CCB). Filing taxes triggers these payments.
2. Apply for a Social Insurance Number (SIN) Immediately
This is your key to working in Canada and accessing government programs, including tax filing and benefits.
3. Know Your Residency Status
Even if you're not a citizen or permanent resident, you may still be considered a resident for tax purposes. This affects how you're taxed.
4. Keep Records of Your Arrival Date
This helps determine your eligibility for benefits and affects your first tax return. Canada taxes worldwide income once you become a resident.
5. Report Foreign Assets
If you own more than $100,000 CAD in foreign property (like a business, real estate, or bank accounts), you must file Form T1135.
6. Declare World Income
Once you're a Canadian resident for tax purposes, you must report all global income, not just Canadian earnings.
7. Get a CRA MyAccount
Register with the Canada Revenue Agency (CRA) online to view benefits, file returns, and manage your taxes easily.
8. Learn About Deductions
Expenses like childcare, medical costs, student loan interest, and moving expenses may reduce your taxes.
9. Understand Tax Deadlines
Individual filing: April 30
If self-employed: June 15, but payment is still due by April 30
10. Use Free Tax Clini