INCOME TAX FAQs
The deadline to file annual income tax return in most cases is April 30th of the following year. For self-employed individuals, this date is June 15th.
- 15% on the first $47,630 of taxable income, plus
- 20.5% on the next $47,629 of taxable income (on the portion of taxable income over 47,630 up to $95,259),plus
- 26% on the next $52,408 of taxable income (on the portion of taxable income over $95,259 up to $147,667),plus
- 29% on the next $62,704 of taxable income (on the portion of taxable income over 147,667 up to $210,371), plus
- 33% of taxable income over $210,371
For more information you can visit Canada Revenue Agency website at https://www.canada.ca/en/revenue-agency/services/tax
CPA’s are trained to handle any sort of tax and accounting situations. At Quest, our certified professionals can make the most out of every case no matter how complex they are.
The speculation and vacancy tax is an annual tax paid by some owners of residential properties in designated taxable regions of B.C.
The tax is designed to discourage housing speculation and people from leaving homes vacant in B.C.’s major urban centres. More than 99% of British Columbians are expected to be exempt from the tax.