Question 1

How does The Urban Accountant (T.U.A) work?

Accepted Answer

Once your questionnaire is complete, the T.U.A app will instruct you on exactly which documents you need to upload. Along with our tax software, a real accountant then reviews your files and prepares your return. You do not fill out any forms yourself.

Question 2

What documents do I need to upload?

Accepted Answer

Rest assured, the T.U.A app guides you through the entire process and tells you exactly which documents you are required to upload. The documents you need depend entirely on how you make money. Most employed Canadians need their T4 slips from their employers.

Question 3

How long does filing take with T.U.A?

Accepted Answer

Returns are completed in no more than 7 business days. An expedited 3-day return is available (for an additional fee). Our accountants and our tax software ensure your return is processed efficiently and accurately.

Question 4

Is my personal and financial data secure with T.U.A?

Accepted Answer

Yes, your information is completely secure. We use SSL encryption for all data transfers. Your uploaded documents are stored in a restricted system where only our accountants and our tax software have access to them. We never share your data with third parties, and we follow Canada's privacy laws strictly.

Question 5

What if the CRA contacts me after my return is filed?

Accepted Answer

Our accountants are the preparers of record on your tax file. If the CRA reaches out about a return we filed for you, just let us know. Your accountant will step in and respond to the CRA on your behalf.

Question 6

What is the deadline for filing personal taxes in Canada?

Accepted Answer

For most Canadians, the personal tax deadline is April 30. If you or your spouse are self-employed, you have until June 15 to file. However, any tax balance you owe is still due on April 30, no matter what your filing deadline is.

Question 7

What happens if I file my taxes late?

Accepted Answer

If you owe money and file late, the CRA charges a 5 percent penalty on your balance right away. They also add 1 percent for every month you are late, up to a year. If you do not owe any tax, there is no late penalty. However, your refund and any government benefits will be delayed until you file.

Question 8

How do I set up direct deposit for my tax refund?

Accepted Answer

You can set up direct deposit through your CRA My Account online. You just need to link your Canadian bank account. When you use direct deposit, your refund usually arrives within eight business days. If you wait for a cheque in the mail, it can take up to six weeks.

Question 9

What are the benefits of contributing to an RRSP?

Accepted Answer

RRSP contributions directly reduce your taxable income for the year, which lowers your tax bill. The investments inside your RRSP also grow tax-free until you withdraw them in retirement. If you are in a higher tax bracket, this is one of the most powerful ways to keep more of your money.

Question 10

What is the RRSP contribution deadline?

Accepted Answer

You must make your RRSP contributions by March 1 to deduct them from the previous year's income. In a leap year, the deadline is February 29. Your maximum contribution limit is 18 percent of your earned income from the previous year, up to the annual maximum.

Question 11

How do I claim medical expenses on my Canadian tax return?

Accepted Answer

You can claim medical expenses for yourself, your spouse, and your kids on Schedule 1 of your return. You get to choose any 12-month period ending in the tax year, so we pick the window that gives you the biggest credit. Our accountants and our tax software do this math for you.

Question 12

What are common tax credits for students in Canada?

Accepted Answer

Students can claim a tuition tax credit using the T2202 form provided by their school. You can also claim the interest you paid on federal student loans. If you do not need all your tuition credits this year, they carry forward forever, or you can transfer up to $5,000 to a parent who supported you.

Question 13

How do I report rental income on my tax return?

Accepted Answer

You report your rental income on Form T776 as part of your personal tax return. You declare your total rental income and then deduct allowable expenses like mortgage interest, property taxes, insurance, and repairs. We prepare the T776 for you to ensure you claim every valid expense.

Question 14

What are the most overlooked tax deductions in Canada?

Accepted Answer

Many people miss claiming their union dues, professional fees, or eligible moving expenses if they relocated for work. Childcare expenses and the disability tax credit are also frequently overlooked. If you work from home, you might be missing out on home office deductions. We review your situation specifically to catch these missed opportunities.

Question 15

How do I file taxes as a self-employed individual in Canada?

Accepted Answer

You file a T1 personal return that includes Form T2125 for your business activities. On this form, you report your gross business revenue and subtract your eligible expenses to find your net income. Our accountants and our tax software handle this entire process for you.

Question 16

How does the CRA handle GST/HST for self-employed individuals?

Accepted Answer

If your business makes more than $30,000 in four consecutive quarters, you must register for a GST/HST account. Once registered, you charge sales tax to your clients and send the net amount to the CRA. You can also claim input tax credits to get back the sales tax you paid on your own business expenses.

Question 17

Can T.U.A help if I am being audited by the CRA?

Accepted Answer

Yes. We assist with tax audits for returns prepared by us or by another accountant (for an additional fee). We keep records of every return we file, so we have the documentation ready. If you are being audited for a return filed elsewhere, you can book a consultation with us for professional guidance.

Question 18

Where can I find my CRA My Account?

Accepted Answer

You can access your CRA My Account online at canada.ca. To set it up, you need your Social Insurance Number, your date of birth, and information from a recent tax return. Once you are in, you can see your tax records, your RRSP room, and your benefit payment dates.

Question 19

Where can I book a consultation with a T.U.A tax advisor?

Accepted Answer

You can book a paid video consultation directly through our website. These sessions are perfect for complex tax planning, understanding CRA letters, or figuring out prior year mistakes.

Your Canadian Tax Questions, Answered

How T.U.A Works

Deadlines and Penalties

RRSP and Retirement

Deductions and Credits You Might Be Missing

Self-Employment and Business Taxes

CRA Accounts and Audits

Still Have a Question That Is Not Answered Here?