Yes
Common Questions. Q: I file my tax returns on time in Canada (or the U.S.) where I live, and may not meet the filing threshold to file a return in the other country from which I have income. A: Yes. If you had income from the other country and may be required to file, or if your income is eliminated by the operation of a tax Treaty or exlusion, failure to file will leave that year open in the other country while your home country return is closed by statute in three years. Most Canadian residents are required to file an income tax return for the income they have earned in the previous year. You must file a return if you owe taxes to the government or if you have earnings on which you are required to make contributions towards the Canadian Pension Plan (CPP) . There are other criteria for filing taxes as well. If you owe tax to the government and/or don't file your taxes by the due date, you will be liable to pay interest and penalties to the Canada Revenue Agency (CRA) . Compound daily interest is charged on the unpaid amounts starting from May 1, at a prescribed interest rate. FAQ. Q: I file my tax returns on time in Canada (or the U.S.) where I live, and may not meet the filing threshold to file a return in the other country from which I have income. A: Yes. If you had income from the other country and may be required to file, or if your income is eliminated by the operation of a tax Treaty or exlusion, failure to file will leave that year open in the other country while your home country return is closed by statute in three years. 1 You have to pay tax for 2014. 2  We sent you a request to file a return. 3  You and your spouse or common-law partner elected to split pension income for 2014. 4  See lines 115, 116, 129, and 210. 5  You received working income tax benefit (WITB) advance payments in 2014. 1 You can usually renew your benefit by filing your return by April 30. 2  If you choose not to file a return, you will have to complete a renewal form. 3  This form is available from Service Canada. Important Dates The taxation year for Canada is January to December and, in general, you are required to file your tax return on or before April 30. For example, for the income you earned from January 2011 to December 2011, you should have filed your tax return by April 30, 2012. If you owe tax to the government and/or don't file your taxes by the due date, you will be liable to pay interest and penalties to the Canada Revenue Agency (CRA) . Compound daily interest is charged on the unpaid amounts starting from May 1, at a prescribed interest rate. You must file a return for 2014 if any of the following situations apply: 1  You have to pay tax for 2014. 2  We sent you a request to file a return. 3  You and your spouse or common-law partner elected to split pension income for 2014. 4  See lines 115, 116, 129, and 210. 1 You can usually renew your benefit by filing your return by April 30. 2  If you choose not to file a return, you will have to complete a renewal form. 3  This form is available from Service Canada. To file your taxes, you need an income tax package for the province in which you lived on December 31 of the previous year. The package includes a return (form), federal tax worksheet, schedules (more forms), a provincial or territory tax worksheet and an information guide. The Canada Revenue Agency is encouraging Canadians to file their income taxes online. You can still file your taxes by mail or by hiring someone to do it for you. Here are 4 Ways to File Your Canadian Income Taxes. Select the one that's most appropriate for you and your income tax situation. 4. You still have to file a return to Canada even if the tax rate is higher in the foreign country. If the tax rate is higher in the foreign country than Canada, you won't pay anything to Canada on that income. But you would still have to file a return and disclose that you had that income, and show [officials] that you paid the tax to the country. [Canada] wants some proof that your paid it, Tollstam said. 5. Non-residents of Canada are still taxed if they make money in Canada. You must file a federal income tax return for any tax year in which your gross income is equal to or greater than the personal exemption amount and standard deduction combined (per the Form 1040 Instructions for the corresponding tax year). Generally, you need to file returns going back six years. 1 Copy: You can request a copy of your tax return, but in most cases you must pay a fee to do so (currently $50). 2  Use Form 4506, Request for Copy of Tax Return (PDF), to request a copy of your tax return. 3  Copies of Forms 1040, 1040A, and 1040EZ are generally available for 7 years from the date you filed the return. 1 We sent you a request to file a return. 2  You and your spouse or common-law partner elected to split pension income for 2014. 3  See lines 115, 116, 129, and 210. 4  You received working income tax benefit (WITB) advance payments in 2014. 1 You can usually renew your benefit by filing your return by April 30. 2  If you choose not to file a return, you will have to complete a renewal form. 3  This form is available from Service Canada.
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