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Personal Tax Services

Keep Your Individual Finances Organized with Our Personalized Services

Personal Tax Accountant

We are tax accountants who provide you with the support and expertise you need to get the most out of your personal tax return. Contact our accounting firm today.

Individual tax accounant

Contact Us to Assist As Your Individual Tax Accountant

At Malhi Accounting, we specialize in providing personalized tax solutions tailored to your unique financial situation. Whether you need assistance with tax preparation, filing, or strategic planning to maximize returns and minimize liabilities, our expert team is here to help. Embrace the peace of mind that comes with knowing your taxes are handled by professionals dedicated to maximizing your financial health. Reach out today to partner with an accountant who truly understands your individual needs.

Personal accountant

Set Yourself Up For Success With Our Accounting Firm

For Personal, Business, and Audit Solutions, Contact Malhi Accounting Today

Service That Works for You Around the Clock

Your financial needs don't always adhere to the typical 9-to-5 schedule. That's why we offer flexible, around-the-clock services to accommodate your busy life. Our team is committed to providing timely, efficient support when you need it most, ensuring that your financial queries and concerns are addressed promptly. With our 24/7 availability, you can rest assured that we are always here to assist, making financial management seamless and stress-free.

Individial tax consultant
Personal tax accountant

Personal Tax
Accountant Services

Frequently Asked Questions

  • Who needs to file a tax return in Canada?
    Generally, residents of Canada who earned income or have taxes owing must file a tax return. This includes individuals with employment income, self-employed individuals, and those who have received other types of income such as rental income or investment income.
  • What is the deadline for filing taxes in Canada?
    The deadline for filing your personal income tax return is typically April 30th. If April 30th falls on a weekend or a holiday, the deadline is usually extended to the next business day.
  • How can I file my taxes?
    You can file your taxes online using certified tax software, by mail using paper forms, or through a tax professional. The CRA also offers online services for filing taxes.
  • What documents do I need to prepare my tax return?
    Common documents include T4 slips (employment income), T5 slips (investment income), receipts for deductible expenses, and any other relevant financial documents. Self-employed individuals may need additional documents, such as business expense receipts.
  • What are some tax credits and deductions available to individuals in Canada?
    Common tax credits and deductions include the Basic Personal Amount, Child Tax Credit, Medical Expenses, Charitable Donations, and Education Credits. The specific credits and deductions you qualify for depend on your individual circumstances.
  • What is the Goods and Services Tax (GST) credit?
    The GST credit is a tax-free quarterly payment to help individuals and families with low or modest incomes offset the GST they pay. Eligibility is based on your income and family situation.
  • Do I need to report foreign income?
    Yes, you are required to report any foreign income, including income from employment, investments, and property. There are also reporting requirements for foreign assets exceeding certain thresholds.
  • Can I split income with my spouse or common-law partner?
    There are income-splitting opportunities for some tax credits and deductions, but the rules can be complex. It's advisable to consult with a tax professional to determine the best strategy for your situation.
  • What are the penalties for late filing or non-compliance?
    There are penalties for filing your taxes late and for not reporting income. Interest may also be charged on any amounts owing. It's important to file on time to avoid these penalties.
  • Where can I get more information or assistance?
    The Canada Revenue Agency (CRA) website (https://www.canada.ca/en/revenue-agency.html) is a valuable resource for information on personal taxes. You can also contact the CRA directly or seek assistance from a tax professional.
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