T1 return (personal income tax);

The T1 is the income tax return that every individual... Canada completed once a year for the tax authorities; Canada (the IRS, federal tax). In Quebec, this is supplemented by the TP1, the provincial tax return sent to Revenu Québec. On this form, you declare your income and claim your tax credits and deductions.

Brief

The T1 = an individual's federal income tax return, sent to the IRS (Internal Revenue Service). Canada )
In Quebec, it goes hand in hand with the TP1, the declaration sent to the tax authorities.
For everyone: employees, self-employed individuals, and retirees
Used to claim tax credits and deductions (including RRSPs, a retirement savings account that reduces taxes)

Why does this matter?

Think of your T1 return as your annual accounting with the government: you add up what you earned, subtract your credits and deductions, and see if you owe money or are entitled to a refund. A missed box can cause you to lose a refund or trigger a notice of assessment (the official response from the tax authorities that corrects your figures). In 2026, the first federal tax rate drops to 14%, and the amount you can earn tax-free (the basic personal amount) reaches $16,452. In Quebec, you must file both the federal and provincial returns. Bankeo connects you with a certified accountant/CPA free of charge. They will identify the applicable deductions and complete everything flawlessly, and we'll be there to support you every step of the way.

Frequently asked questions

What exactly is it?

This is the annual form where you tell the government how much you earned and how much tax you owe (or are owed). In Quebec, you fill out two: the T1 for the federal government and the TP1 for the province.

What is the difference between T1 and TP1?

The T1 is the federal tax return, sent to the IRS (Internal Revenue Service). Canada TP1 is the Quebec tax return, sent to Revenu Québec. A Quebec resident files both each year.

Does a self-employed individual complete a T1?

Yes. He declares his business income and expenses on his T1 (and TP1 in Quebec), using a schedule provided for this purpose. Bankeo will connect you with a verified accountant/CPA free of charge to complete it accurately, at no cost to you, and we'll be there to support you every step of the way.