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| *The Commerce Journal>>>Canada Taxes |
What law says we actually have to submit a tax file? |
What law says we actually have to submit a tax file? The Income Tax Act, subsection 150(1). You don't actually have to file a return unless there is tax payable, or, CRA has sent you a demand under 150(2). It is often to your advantage to file even if you don't owe anything, though - sometimes you can get a refund, and you can gain RRSP room by filing. It makes me feel better to know that you guys in Canada too. I thought the US had a monopoly on tax nuts. Income Tax Act |
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