What Are The Types of Tax in Canada?

On By Toronto's Small Business AccountantIn Tax

If you live in Ontario, Canada, then you are certainly familiar with pay taxes; however, what are all the different taxes we must pay?

person holding black pen

The Canadian government(s) collects money from both individuals and companies at the federal, provincial and municipal government levels.

The most common types of taxes in Canada are:

  • Personal income taxes
  • Corporation income taxes
  • Sales taxes or value added tax (VAT) such as: goods and services tax (GST), provincial sales tax (PST) or harmonized sales tax (HST), a combined blended combination of PST and GST
  • Property taxes

The Canada Revenue Agency (CRA) is the federal agency responsible for administering tax for the government of Canada and for most provinces and territories.

The CRA also oversees and administers a variety of social and economic benefits and incentive programs.

The CRA website provides detailed tax related information and is a very useful resource that all Canadians who are old enough to know about taxes should be familiar with.