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CRA Personal Income Tax, Worldwide Income & Expat Cross-Border Rules
The Canada Revenue Agency (CRA) administers federal and provincial income taxes based on residency rather than citizenship. Factual and deemed residents are taxed on their worldwide income, while non-residents pay tax solely on Canadian-source income. Understanding the primary residential ties (dwelling, spouse, dependents) and secondary ties (bank accounts, provincial driver’s license, health card) is critical for tax residency determinations.
Key 2026 Statutory & Regulatory Checkpoints:
- Federal tax brackets combined with provincial/territorial rates (e.g., Ontario, BC, Alberta).
- Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP) contribution limits.
- Form T1135 Foreign Income Verification Statement for foreign property exceeding CAD $100,000.
Frequently Asked Questions: Taxes, CRA & Finance
CRA evaluates your primary residential ties (a home in Canada, spouse/common-law partner, or dependents) and secondary ties (personal property, Canadian driver license, bank accounts) to determine if you are a factual or deemed resident.
You must file Form T1135 if you own specified foreign property (including foreign bank accounts, stocks, and real estate) with a total cost amount exceeding CAD $100,000 at any time during the tax year.