People living in Canada pay taxes to support things like roads, schools, and healthcare. Taxes are also used to help people in need, such as low income families, students, seniors, or people with disabilities. Learn more about the Canadian Tax System.

Need help with your taxes? Visit the Community Volunteer Income Tax Program to see how you can get help.

Its income tax filing season! Between January and April, we must file our income tax for the previous year to the Canada Revenue Agency. Immigrant Services Calgary’s Income Tax Clinic helps low income newcomers file their taxes for free!

Are you a newcomer to Canada? The Canada Revenue Agency made a video that shows newcomers how the Canadian tax system works:


If you or your family brings more than $10,000 Canadian dollars (or other currency with equivalent value) you must declare that amount when you arrive in Canada. If you fail to do so, your money may be seized by the Canada Border Service Agency and you may face other penalties. Consult with your bank to learn more about the laws related to bringing money to Canada.


Coins and bank notes

One Canadian dollar ($) is made up of 100 cents (¢). These are Canada’s coins:

  • Nickel – 5¢
  • Dime – 10¢
  • Quarter – 25¢
  • Dollar or “loonie” – $1
  • Two Dollars or “toonie” – $2

These are Canada’s paper bills:

  • Blue bill – $5
  • Purple bill – $10
  • Green bill – $20
  • Red bill – $50
  • Brown bill – $100

Image source: Bank of Canada


Canadians usually keep their money in banks, credit unions, or trust companies. You can open a bank account even if you don’t have a job, don’t have money in the account right now.  

Opening a bank accounts allows you to write cheques, use automated banking machines, receive pay through direct deposit, and use debit and credit cards. Learn more about banking