Question

If my only income from 2022 is from the Company I worked for, how could I know why I owe CRA money?

Forum|Forum|3 years ago
March 29, 2023
1 reply
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All taxes were supposedly deducted from my company. This is my first time filling taxes from a complete year in Canada. Could use some help! Thanks!

C

champ_a_adc

During the year, your employer withholds tax for you and puts it in the hands of the Canada Revenue Agency in advance. However, those forms of tax withholding are essentially estimates of taxes owing, made before the tax return has been completed and filed. So, when you are completing your tax return that will reveal the actual tax you owe for the year.

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