At the personal level, dividends are taxed differently depending on the type of dividend you receive. In Canada, there are two types of dividends: eligible dividends and non-eligible dividends.
Filing your personal taxes is a legal requirement in Canada, and failing to do so can result in serious consequences. If you do not file your personal taxes for the 2022 tax year, the Canada Revenue Agency (CRA) may take action to collect the taxes you owe.
As a Canadian citizen, you are required to file a tax return in Canada if you have earned income in Canada or if you have worldwide income that exceeds certain thresholds. If you are a resident of Canada for tax purposes, you must report all of your income from all sources, both inside and outside of Canada, on your Canadian tax return.
The Canada Emergency Response Benefit (CERB) was a program introduced by the Canadian government in response to the economic impacts of the COVID-19 pandemic. The program provided financial support to individuals who were unable to work due to the pandemic, including those who were laid off, sick, quarantined, or caring for someone who was sick.
Personal tax is an important aspect of being a responsible citizen in any country. In Canada, personal tax is managed by the Canada Revenue Agency (CRA), which is the federal agency responsible for administering tax laws for the Government of Canada.
