Canada Test 7
5 min40 WPM required304 words
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The Canada Revenue Agency is the federal department responsible for administering tax laws for the Government of Canada and most provincial and territorial governments, collecting taxes and delivering benefit programs that provide financial support to millions of Canadians. Personal income tax in Canada is reported through the T1 General income tax and benefit return, which taxpayers file annually to report their income, claim deductions and credits, and calculate the amount of tax they owe or the refund to which they are entitled. Employers are required to complete a T4 Statement of Remuneration Paid for each employee at the end of the calendar year, summarising the employee's total employment income, income tax deducted at source, Canada Pension Plan contributions, and Employment Insurance premiums, and to provide copies to both the employee and the CRA by the last day of February following the taxation year. The income tax return filing deadline for most individuals is the thirtieth of April in the year following the taxation year, with a deadline of the fifteenth of June for self-employed individuals and their spouses or common-law partners, though any balance owing is still due by the thirtieth of April regardless of the extended filing deadline for self-employed persons. The CRA administers a pre-assessment review program and a post-assessment review program to verify the accuracy of information claimed on returns, using risk-based selection to identify returns for more detailed review and issuing requests for documentation to support deductions and credits that appear unusual or inconsistent with other information in the CRA's possession. The Canada Child Benefit, the Goods and Services Tax and Harmonized Sales Tax Credit, and the Climate Action Incentive Payment are among the refundable benefit and credit programs that the CRA administers, using information from income tax returns to calculate and deliver payments to eligible Canadians throughout the year.