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Find answers to the most commonly asked tax related questions.
Your personal tax return deadline is April 30. If April 30 falls on a weekend, then it is the first business day after April 30. If you or your spouse (or common-law) are self-employed then the deadline is June 15, however if you owe taxes then those must be paid by April 30 or you will be charged interest.
The most common paperwork you need is all your T-slips for your earnings from employment, investments, etc. (T3, T4, T5, T4RSP, T4E). Plus, support for any deduction or tax credit including daycare receipts, tuition slips, medical costs, RRSP contributions, donation receipts. Self-employment income will require additional paperwork to support revenues and expenses.
Yes, you must pay taxes on ALL money that you earn, including cash tips, side businesses, multi-level marketing, social media, etc.
Medical expenses are deductible if you or your spouse or common-law partner paid for them out of pocket. Medical expenses that are covered through your benefits are not eligible.
If you forgot to include a document, you can file an amended return. CRA will re-assess your return and send out a Notice of Reassessment.
You need to keep your personal and business tax returns, any slips or receipts, bank statements, contracts, insurance documents, business agreements, licenses, and payroll records.
The deadline for all corporations to file is six months after your fiscal year end. For example, if your fiscal year end is January 31 then you must file your return by July 31.
Yes, you must file a corporate tax return every year, even if your corporation or business is inactive or has no tax payable.
Find answers to the most commonly asked tax related questions.
Your personal tax return deadline is April 30. If April 30 falls on a weekend, then it is the first business day after April 30. If you or your spouse (or common-law) are self-employed then the deadline is June 15, however if you owe taxes then those must be paid by April 30 or you will be charged interest.
The most common paperwork you need is all your T-slips for your earnings from employment, investments, etc. (T3, T4, T5, T4RSP, T4E). Plus, support for any deduction or tax credit including daycare receipts, tuition slips, medical costs, RRSP contributions, donation receipts. Self-employment income will require additional paperwork to support revenues and expenses.
Yes, you must pay taxes on ALL money that you earn, including cash tips, side businesses, multi-level marketing, social media, etc.
Medical expenses are deductible if you or your spouse or common-law partner paid for them out of pocket. Medical expenses that are covered through your benefits are not eligible.
If you forgot to include a document, you can file an amended return. CRA will re-assess your return and send out a Notice of Reassessment.
You need to keep your personal and business tax returns, any slips or receipts, bank statements, contracts, insurance documents, business agreements, licenses, and payroll records.
The deadline for all corporations to file is six months after your fiscal year end. For example, if your fiscal year end is January 31 then you must file your return by July 31.
Yes, you must file a corporate tax return every year, even if your corporation or business is inactive or has no tax payable.
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