How many Tax Return Types in Canada?

💡When it comes to taxes, a "Tax Return" is a detailed report submitted to tax authorities regarding income, deductions, and taxes owed. These reports are filled out based on specific forms, depending on the taxpayer's status. They include various sources of income, like wages, investments, and self-employment, with applicable credits and refunds. Accurate completion and provision of necessary documents ensure compliance with regulations, helping avoid fines and legal risks.