Personal Tax Return (T1) Filing

A T1 Personal Tax Return is the individual income tax return that all Canadian residents must file annually with the Canada Revenue Agency (CRA) to report their income, deductions, credits, and taxes owed or refunded. Whether you are an employee, self-employed, or earning rental or investment income, filing a T1 return is a legal obligation that ensures compliance with Canadian tax laws.

Who Should File a T1 Tax Return?

The CRA requires individuals to file a T1 tax return if they:
✔ Earned income from employment, self-employment, pensions, rental properties, or investments.
✔ Owe taxes to the CRA.
✔ Want to claim benefits or credits, such as the GST/HST credit, Canada Child Benefit (CCB), or the Climate Action Incentive (CAI).
✔ Are self-employed, including freelancers, independent contractors, Uber and Lyft drivers.
✔ Sold property or investments, triggering capital gains.
✔ Have foreign income that needs to be reported under Canadian tax laws.

Even if you have no income, filing a return ensures you remain eligible for government benefits and tax credits.

When Should You File a T1 Tax Return?

The deadline to file your personal tax return depends on your employment status:
📅 For most individuals – The deadline is April 30 of the following year.
📅 For self-employed individuals (and their spouses) – The deadline is June 15, but any taxes owed must still be paid by April 30 to avoid interest charges.

Filing on time ensures you avoid penalties and interest on any taxes owed and receive eligible benefits without delay.

Consequences of Failing to File Your T1 Tax Return

Failing to file your T1 tax return on time can result in serious financial and legal consequences, including:
⚠ Late Filing Penalties – If you owe taxes, CRA charges a penalty of 5% of your balance owing, plus 1% for each additional month, up to 12 months.
⚠ Interest on Unpaid Taxes – CRA applies daily interest on unpaid amounts, which increases your tax debt over time.
⚠ Loss of Benefits & Credits – Delayed filing may result in suspension of benefits, such as the Canada Child Benefit (CCB) and GST/HST credits.
⚠ CRA Audits & Reassessments – Repeated failure to file can trigger CRA audits, enforcement actions, and even legal prosecution.

File Your T1 Return with TaxCan – Reliable & Professional Service

At TaxCan Accounting and Taxes, we specialize in accurate and efficient T1 tax return filing. As a CRA-authorized EFILE provider, we ensure instant submission, faster refunds, and full compliance with tax laws.

🔹 Maximize Your Refunds – We identify all eligible deductions and credits to reduce your tax bill.
🔹 Expert Tax Guidance – Whether you're an employee, self-employed, or have multiple income sources, we provide personalized tax solutions.
🔹 Hassle-Free EFILE Submission – Secure and fast electronic filing directly to the CRA.
🔹 CRA Compliance & Audit Support – Avoid penalties and stay stress-free with our professional assistance.

Don't risk penalties or missed refunds—contact TaxCan today for expert T1 tax return filing and ensure your taxes are filed accurately and on time!