Filing your income tax and benefit return each year is what you need to do to receive any benefit and credit payments you’re entitled to. Sometimes after you file, you realize you made a mistake or forgot to include something important. If this happens to you, don’t worry. It’s easy to change your tax return. If you …
Need to change your tax return? You can do it online! Read More »
Getting ready to file your income tax and benefit return? We have a few tips that could help you prepare, save time and ensure you receive all the benefits and credits that you are entitled to:1. File your return on time2. File your return online3. Claim all your benefits, credits, and deductions4. Enter all your …
Eight things to remember before you file your 2021 income tax and benefit return Read More »
Tax information you need to know if you are a Social Media Influencer If you are generating revenue from social media platforms, such as YouTube, Instagram, Twitch, Facebook, Twitter, or a blog to make posts and build up followers of their content. Please ensure you understand your tax obligation. The Canada Revenue Agency has the …
If you wanted to fix your tax problems voluntarily, the Voluntary Disclosure Program is a second chance for taxpayers who didn’t comply with the Income Tax Act. Conditions apply and are subject to the CRA’s approval. This is a once in your lifetime opportunity to fix the problem. If the CRA initiates contact prior, you …
Voluntary Disclosures Program and Taxpayer Relief Read More »
There are numerous reasons that trigger a tax audit, such as red flags with understated revenue and overstated expenses. Excessive transactions on principle property and investment properties. Deliberately or in-deliberately failing to report foreign properties etc. Hire a professional representative to deal with this stress and resolve the problem in a proper way.
Tax debt or Installments must be remitted before the due date. Failure to remit tax debt will result in penalties and interest. Penalties and interest can be substantial depending on the amount owing and how long you’ve been owing. Not responding the tax owing, the Income Tax Act allows the CRA starts cumulate penalty and …
GST/HST is considered a trust fund as it is collected on behalf of the Government that must be filed and remitted before the due date. It’s not un-common that business owners commingle the trust funds with their revenue especially when there is a lack of cash flow running the business. As this is a trust …
GST/HST is considered a trust fund as it is collected on behalf of the Government that must be filed and remitted before the due date. It’s not un-common that business owners commingle the trust funds with their revenue especially when there is a lack of cash flow running the business. As this is a trust …
