Efficient Personal Tax Filing
Proper personal tax filing is key to financial health and avoiding penalties.
At SBQS Ltd. in Calgary, we specialize in personal, self-employed, and corporate tax services. Our expert team ensures accurate, efficient filing to optimize your tax results.
Planning the Best Approach
Please visit the Contact Us page, or simply send your document by email, and we will take care of the rest!
Personal Income Tax Highlights
Personal income tax filing involves reporting your earnings, expenses, deductions, and credits to the government annually, ensuring compliance with tax laws.
Common sources of income tax slips include:
๐ผ Employment: Salary, wages, T4/T4A slips
๐ฆ Pensions & Annuities: Retirement income (T4A, T4RSP, etc.)
๐ Investments: Dividends, interest, capital gains
๐ Rental Income: Earnings from property
๐ป Self-Employment: Business or freelance income
๐ฐ RRSP Withdrawals: Registered Retirement Savings Plan income
๐ Other Income: Benefits, scholarships, debt forgiveness
Common Deductions You Can Claim
๐ข Membership & Professional Dues: Union or professional fees
๐ Moving Expenses: Costs of relocating for work
๐ถ Child Care Expenses: Eligible daycare or care costs
โฟ Disability Support Expenses: Costs for disability-related support
๐ Rental Property Expenses: Deductions related to rental income
๐ผ Employment Expenses (Form 2200): Work-related costs
๐ Allowable Business Investment Losses (ABIL): Investment losses you can claim
โ๏ธ Legal Fees: Eligible legal expenses
๐ Stock Options: Costs or gains related to stock options
๐ต Income Tax Installments Paid: Prepaid taxes
๐งพ Pension Adjustments / Reversals (T10/T215): Past service pension adjustments
What are tax credits in Canada?
Canada offers various tax credits to individuals based on their personal circumstances. Here are some common tax credits often claimed on a T1 return:
๐ Medical Expenses
๐ Charitable Donations
โค๏ธ Spousal Exemption
โฟ Disability Amounts (T2201)
๐ถ Adoption Expenses
๐ Tuition & Education (T2202/T2202A)
๐ฐ Student Loan Interest
๐งโโ๏ธ Caregiver Amounts
Why Choose Us for Your Personal Taxes?
๐งโ๐ผ Expert Guidance โ Personalized, accurate tax advice
๐ฐ Maximize Refunds โ Claim all eligible credits and deductions
โ Stress-Free Filing โ We handle the complexity for you
๐ On-Time & Compliant โ Avoid penalties, stay CRA-compliant
๐ค Personalized Support โ Individual attention for every client
๐ Secure & Confidential โ Your information is safe with us
Bookkeeping & Payroll Help?
๐ผ Payroll
๐ GST Returns
๐ Bookkeeping & Accounting
๐ Financial Statements
๐งพ Year-End T-Slips โ Prepare and submit to CRA
