If you earn income from employment, your employer is obligated to deduct tax installments from every pay cheque and remit them to Canada Revenue Agency. If your employer has not deducted enough during the year, you will have to pay more tax when you file your tax return. If your employer deducted too much because you have deductions or credits to claim, you will usually get money back after you file your return for the year. Show
If you earn income from a source other than an employer, you will usually pay the tax you owe when you file your tax return or when you are asked to make quarterly installment payments. With certain types of investments, you are required to pay tax on the income you earn during the year regardless of when you actually receive it. You also need to file a return to be eligible for an income tax refund, and to claim credits or deductions such as for Goods and Services Tax, Harmonized Sales Tax, Child Tax Benefit payments, tuition or education payments, RRSP contributions, or if you have incurred a non-capital loss that you want to be able to apply in other years. When to file your returnUnder the law, you are required to file your tax return and pay any taxes owing by April 30th of the following year. If you, your spouse, or a common-law partner is self-employed and carried on a business in the year of the return, the forms may be filed on or before June 15th. In such cases, even though the personal tax forms may be filed up-to June 15th, any outstanding taxes must still be paid on or before April 30th. Individuals and businesses are required by law to pay various forms of tax. Individuals pay income tax and health surcharge on their income. Businesses must pay VAT, Corporation Tax, Business Levy, Green Fund Levy, and other Miscellaneous Taxes. There are different procedures for paying taxes, depending on whether the payee is an individual or a business.
Procedures for IndividualsIn order to pay taxes, all individuals, whether they are self-employed or employed by someone else, must have a BIR file number. Please follow the link below to apply for a BIR file number. Please note that individuals are no longer legally required to file income tax returns unless they are professionals or self-employed. Your employer will deduct taxes from your salary and pay them to the government on your behalf. However, you can choose to file a return if you are unhappy with the amount of tax that has been deducted from your earnings by your employer. If you are self-employed you must file a tax return at the end of the financial year. The filing deadline is set by the Inland Revenue Division, is usually in March or April, and can vary from year to year. You can download an income tax return form and read filing instructions by following the links below.
How much tax do I pay?All taxpayers are entitled to a Personal Allowance of TT$72,000.00 per year. This means that you do not pay income tax on your first TT$72,000.00 of income, so you pay no income tax at all if you earn less than this amount. Follow the link below for tax rates and information on how your taxes are calculated. You can reduce the amount of tax they pay by declaring tax-deductible expenses. Please follow the link below for information on reducing your taxes.
What tax assistance is available for individuals?The Inland Revenue Division of the Ministry of Finance provides the following tax services free of charge:
You may contact the following locations for tax assistance between the hours of 8:00 am and 4:00 pm, Monday to Friday, except public holidays: Taxpayer Services Section Tel. (868) 623-2981/7106 ext. 201 and 204 Taxpayer Relations Section Tel. (868) 623-2981/7106 ext. 321, 323-6 South Regional Office Tel. (868) 657-6057/5775 Tobago Regional Office Tel. (868) 639-2410/2538 You may also obtain tax assistance by visiting the Arima or Couva District Revenue Office on the first Wednesday of every month, or the Point Fortin District Revenue Office on the third Wednesday of every month between the hours of 8:00 am and 12 noon. Please follow the link below for District Revenue Office locations. During the months of April and October (tax filing periods) Technical Officers are stationed at District Revenue Offices on specified days, published in the daily newspapers, to assist taxpayers in completing Tax Returns. You can also visit the Inland Revenue Division website and select the “Tax Assistance” drop-down menu for on-line tax assistance.
Procedure for BusinessesBusinesses must have a BIR file number in order to pay taxes. They must also have a PAYE file number in order to deduct and remit taxes from employees. Please follow the link below for information on obtaining BIR and PAYE file numbers.
How do I pay my taxes?If you are employed by a company, your taxes are deducted as you earn and are paid to the Inland Revenue Division by your employer. Businesses and professionals must make payments directly to the Inland Revenue Division:
Where can I make a payment?Payment can be made at the Cashiers’ Unit at the addresses below between the hours of 8:00 am and 3:00 pm, Monday to Friday, except public holidays. The Inland Revenue Division South Regional Office Tobago Regional Office Payment can also be made at any district revenue office. Please follow the link below for office locations.
What are the deadlines to submit taxes? Employers must pay Income Tax and Health Surcharge Payments deductions (PAYE) by the 15th of the month following the month the deduction was made from employee’s earnings. Self-employed individuals must make quarterly payments by the last day of each quarter, in March, June, September and December. Where can I find more information? For more information, please visit the Inland Revenue Division website, contact the Inland Revenue Division office or any District Revenue Office. How do I know if I am required to file a tax return?A tax return is necessary when their earned income is more than their standard deduction. The standard deduction for single dependents who are under age 65 and not blind is the greater of: $1,150 in 2022.
Is it mandatory to file income tax return?According to tax rules, filing of return of income is mandatory where an individual's gross total income is more than Rs 2,50,000 in a financial year. However, an individual who may not have taxable income is also required to file his income tax return if he meets some conditions.
Who is not required to file income tax return?
What is the minimum salary to pay income tax in Singapore?It is compulsory for you to file tax returns if your annual income is S$22,000 or more. You can choose to file your returns online or by mail. IRAS will send you the appropriate paper tax form, upon request, the online form will be available from 1 March every year.
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When are you legally required to file a tax return
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