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Welcome at Income Tax Toronto

Thanks for visiting our website. At Income Tax Toronto, our philosophy is simple; to be the best we can be in servicing your needs. We believe that our customers come first; it is not just a cliché but a commitment we make to all our past and future customers.

To be successful in business, it takes a winning combination of services, competitive pricing and dedication by all employees to excel at customer service excellence. Our continued growth is testament to our pledge to provide you with products of the highest quality and unmatched customer service; we have built our reputation on this belief.

We encourage you to look around our site and see what we have to offer. If you don’t see what you are looking for, call us at 647-497-2080 and we will be happy to discuss your needs.

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Do you have to file a return?

File a return for 2020 if:

Note: If you have a spouse or common-law partner, they also have to file a return.

  • The CRA sent you a request to file a return
  • You and your spouse or common-law partner are jointly electing to split pension income (see line 11500line 11600line 12900, and line 21000)
  • You disposed of capital property (which could be a principal residence) or you realized a taxable capital gain in the year
  • You have to repay all or part of your old age security or employment insurance benefits (see line 23500)
  • You have not repaid all the amounts you withdrew from your registered retirement savings plan (RRSP) under the Home Buyers' Plan or Lifelong Learning Plan
  • You have to contribute to the Canada Pension Plan (CPP) for 2020. This can apply if your total net self-employment income and pensionable employment income is more than $3,500 (see line 22200)
  • You are paying employment insurance premiums on self-employment income or other eligible earnings (see line 31217 and line 42120)
  • You have incurred a non-capital loss in the year that you want to be able to apply in other years. (see line 23600)
  • You want to transfer unused tuition fees or carry forward unused tuition, education, and textbook amounts to a future year (see line 32300)
  • You want to report income that would allow you to contribute to an RRSP, a pooled registered pension plan (PRPP), or a specified pension plan (SPP) to keep your RRSP deduction limit (see Schedule 7) for future years up to date
  • You want to carry forward to a future year the unused investment tax credit on expenditures you incurred during the current year (see line 41200)