T1 General

The T1 General or T1 (entitled "Income Tax and Benefit Return") is the form used in Canada by individuals to file their personal income tax return. Individuals with tax payableref|condiion during a calendar year must use the T1 to file their "total income" from all sources, including employment and self-employment income, interest, dividends, and capital gains, rental income, and so on. Foreign income must also be declared and included in the total income. After applicable deductions and adjustments, the "net income" and "taxable income" are determined, from which the federal tax and the provincial or territorial tax are calculated to give the "total payable". Subtracting "total credits", which include the tax withheld, the filer will either receive a "refund" or have "balance owing", which may be zero.

The T1 and any balance owing for each year are generally due by the end of April of the following year.

:"This article is not intended to provide tax advice or any other advice."

ee also

* Income taxes in Canada

References

* [http://www.cra-arc.gc.ca/E/pub/tg/5000-g/5000-g-03-05e.html#P266_16423 cra-arc.gc.ca: Do you have to file a return?]

External links

* [http://www.cra-arc.gc.ca/formspubs/t1general/menu-e.html cra-arc.gc.ca: T1 forms]
* [http://www.cra-arc.gc.ca/contact/t1addr-e.html cra-arc.gc.ca: Where to send your T1]