Frequently asked questions
Answers to the questions we hear most often, and the words on a tax return explained simply.
I live in Quebec but work in Ontario. What should I know?
You’re taxed based on your province of residence on December 31. Tax withheld from your pay is often Ontario tax, so you may owe a balance to Revenu Québec. We help you plan for it and adjust your withholdings.
When is my tax return due?
For most individuals, April 30. If you or your spouse are self-employed, you have until June 15, but any balance owing must be paid by April 30.
I just arrived in Canada. Do I need to file?
In most cases, yes, and it usually pays off: filing gives you access to credits and benefits like the Definition: GST Goods and Services Tax, federal (5%). See the glossary credit and the Canada Child Benefit.
When do I need to register for GST and QST?
Registration becomes mandatory once your taxable sales are over $30,000 in a calendar quarter or over four consecutive calendar quarters. Registering voluntarily can also make sense.
Can everything be done remotely?
Yes. Send documents by email or photo, meet by phone or video, or come to our Gatineau office if you prefer.
How much do your services cost?
It depends on your situation: the type of return, the number of slips, whether you have business or rental income. Call us and we’ll give you an estimate before we start.
Glossary
The terms you run into on a tax return, explained simply.
A
- Adjusted cost base
- The cost of an asset for tax purposes: the purchase price plus certain costs and improvements. It’s used to calculate a capital gain.
C
- Capital cost allowance
- A yearly deduction for part of the cost of a lasting asset, like a building, a vehicle or equipment.
- CO-17
- The Quebec income tax return for corporations.
- CRA
- Canada Revenue Agency: the federal tax authority.
D
- Deemed disposition
- A rule that treats some property as sold at market value, for example when you leave Canada, even though nothing was sold.
G
- GST
- Goods and Services Tax, federal (5%).
H
- HSF
- Health Services Fund: a Quebec employer contribution based on total payroll.
- HST
- Harmonized Sales Tax: in Ontario and the Atlantic provinces, it combines GST and the provincial tax (13% in Ontario).
I
- Input tax credits
- The sales taxes paid on your business purchases, which you recover in your GST/QST return.
N
- Notice of assessment
- The document the CRA or Revenu Québec sends after processing your return. It confirms your tax, refund or balance owing.
Q
- QPIP
- Quebec Parental Insurance Plan: contributions withheld from pay.
- QPP
- Quebec Pension Plan: retirement contributions withheld from pay.
- QST
- Quebec Sales Tax (9.975%).
R
- RL-1
- Quebec slip showing your employment income and withholdings; the equivalent of the T4.
- RL-3
- Quebec slip for your investment income; the equivalent of the T5.
- RRSP
- Registered Retirement Savings Plan. Your contributions lower your taxable income for the year.
T
- T1
- The federal personal income tax return, filed with the Canada Revenue Agency.
- T1135
- Foreign Income Verification Statement: reports property held outside Canada when its total cost is over $100,000.
- T2
- The federal income tax return for corporations.
- T2125
- Federal form reporting the income and expenses of a business or self-employment.
- T4
- Federal slip showing your salary and what your employer withheld.
- T5
- Federal slip for your investment income: interest and dividends.
- T5008 and RL-18
- Slips showing sales of securities (shares, funds) made in your brokerage account.
- T776
- Federal form for rental income and expenses.
- Tax instalment
- A tax payment made in advance, usually four times a year, when tax isn’t withheld at source.
- Tax treaty
- An agreement between Canada and another country so the same income isn’t taxed twice.
- TD1 and TP-1015.3
- Forms employees fill in, federal and Quebec, to set the tax credits applied to their pay.
- TP-1
- The Quebec personal income tax return, filed with Revenu Québec.
- TP-128
- Quebec form for rental income; the equivalent of the T776.
- TP-80
- Quebec form for business income and expenses; the equivalent of the T2125.
Tell us about your file
One call is all it takes to see where you stand and what you need.
We give you an estimate before we start. No obligation.
Monday to Friday, 9 am to 5 pm
Services Comptables SV- Phone
- (819) 210-8967
- Hours
- Mon. to Fri., 9 a.m. to 5 p.m.
- Office
- 55 rue de Faillon, Gatineau, Quebec