Every year it seems the forms get more complicated, and the rules harder to keep up with. In Quebec you have double the fun, as Federal and Provincial income tax is filed separately, and have completely different forms and calculations. The two tax systems are so different; you may receive a refund from one and have to pay to the other. You are not just filing a basic return; you will also be claiming GST/PST refunds, and other refundable tax credits. Are you filing as a couple or as an individual? Is your income from employment with a company or self-employment, or both? Are you a senior or a student? Are you the parent of a student who has no, or minimal income? There are many factors to be considered, and most certainly a separate form that has to be filled out for each. Since most people have jobs or careers that do not qualify them as accountants, it is important to consult a professional to make sure you take advantage of every deduction to which you are entitled. ATS can provide friendly and helpful assistance in filing both your tax returns. Before you arrive for your appointment with an ATS tax specialist, you should make sure you are prepared. Take a look at a list of what to bring with you for your first meeting.
Personal Income Tax
Here are some situations with special tax implications: