Usefull links:
YEAR-END TAX FILING RESOURCES FOR BUSINESS:
Webpages
2020 Tax year-end filing for businesses
CRA Contact number:
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- Canada Revenue Agency contacts
- Business enquiries: 1-800-959-5525
- Individual enquiries: 1-800-959-8281
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FORMS AND PUBLICATIONS (PDF LINK)-2020
Employers’ Guide – Taxable Benefits and Allowances
When completing form T2125, Statement of Business or Professional Activities, form T2121, Statement of Fishing Activities, or form T2042, Statement of Farming Activities, you have to enter an industry code that corresponds to your main business activity.
What should I do?
What are the federal tax brackets in Canada for 2021?
| Annual Income (Taxable) | Tax Brackets | Tax Rates |
|---|---|---|
| Up to $49,020 | The first $49,020 | 15% |
| $49,020 to $98,040 | The next $49,020 | 20.5% |
| $98,040 to $151,978 | The next $53,938 | 26% |
| $151,978 to $216,511 | The next $64,533 | 29% |