xianjw

I file taxes as a self-employed person in the UK, but as a PR now have to file in Canada too. Up to now I've used the UK financial year as the basis for my book-keeping/taxes, but in Canada it seems to be the calendar year that's used. So should I change the basis for my UK accounts? Or does it not really make any difference? Any experience anyone? Thanks in advance.

Aviator

If you are an individual, so filing personal taxes, rather than a incorporated and filing as a corporation, the fiscal year is the same as the tax year.

Canadian tax year is a calendar year for individuals and self employed. Corporations file on the basis of their designated fiscal year.

I would suggest consulting an accountant who can look at all your affairs and advise accordingly. A forum is great for chit chat, but not a substitute for professional advice from an accountant.