Personal Tax Income Returns

Filing personal taxes in Canada can be stressful and confusing. Fortunately, the tax professionals at HFR are here to help reduce your stress and maximize your personal tax return. Our team of trusted tax professionals focuses on reducing the amount owed for people with unique tax considerations. Over the years, we have helped countless families in Oakville and throughout the GTA by keeping your money where it belongs (in your pockets!).

Our core personal tax services include maximizing tax credits for disabilities and medical expenses, optimizing available deductions, including RRSPs, employment expenses, capital gains, farm property exemptions and more. We offer specialized tax services for:

  • Self-employed individuals
  • Rental property owners
  • Non-residents
  • Canadians with foreign income

Need to file with the IRS? No problem. We also work with an affiliated US tax lawyer to help with United States tax prep.

Personal Income Tax Filing Due Dates

In Canada, personal taxes need to be filed by April 30th. If you miss the deadline, you may experience delays in expected payments, rebates and credits, including GST/HST credit, Canada Child Tax Benefit and Old Age Security benefits. You also may experience financial penalties for missing the April 30th due date.

Self-Employed Individuals Tax Filing Due Dates

If you or your spouse/common-law partner is (or was) self-employed, your tax return needs to be filed before June 15th of the year following the self-employment. This extended deadline does not apply to owed payments – if you have a balance owing from the previous year, the payment deadline is April 30th.

Need additional help with your personal taxes? Here at Henderson Fleischer Roller, we specialize in helping people with unique tax considerations. From disability deductions to farm property exemptions, we can answer all your complex personal tax filing questions and troubleshoot any issues.

Obtain a Quote for a Personal Tax Filing

Want to Obtain a Quote for a Personal Tax Filing?

Trust and Estate Filing

Trust and estate filing can often be confusing, which is why our in-house team helps simplify the process and make sure everything is accurate in order to protect your family’s hard-earned assets. A testamentary trust is created by a will and is the most common form of trust. Income earned after death must be reported to the CRA. This includes:

  • Investment income
  • Business Income
  • Rental Income
  • Capital Gain Income
  • Annuity settlements
  • CPP death benefits

It is important to note that the three types of testamentary trusts are taxed differently:

  1. Graduated Rate Estate (GRE) is taxed like normal and is in effect for 36 months after passing. After the 36-month period, this money will be taxed at the highest rate.
  2. Qualified Disability Trust (QDT) is a trust that qualifies for the lower tax rates provided that the sole beneficiary of the trust qualifies for the Disability Tax Credit.
  3. Other Testamentary Trusts (OTT) are taxed at the highest threshold. This is why it is important to deal with GRE trusts within 36 months, as it can save you and your family thousands of dollars.

 

Have a question about trusts, estate taxes or personal tax filing? Reach out anytime for a free consultation with Henderson Fleischer Roller. Our dedicated team is always here to help.