Who is Required to File an Income Tax Return?

Who is Required to File an Income Tax Return?

If you are new to Canada or if you are just entering the workforce, you may be wondering if filing a Canadian Income Tax return is a necessity, and if so, when do you have to file your first tax return? The Canada Revenue Agency (CRA) does require annual filing for...
Penalties for Late Tax Filing – 2022 CRA Rules

Penalties for Late Tax Filing – 2022 CRA Rules

Penalties for Late Tax Filing – 2022 CRA Rules What happens if you file personal taxes late? Filing your taxes late when you have earned a refund or don’t owe any further tax will not result in any fees or penalties. However, if you owe money and file late, the...
Hired an employee? Check CRA Deadlines for Employers

Hired an employee? Check CRA Deadlines for Employers

Hired an employee? Check CRA Deadlines for Employers If you hire an employee, you have to have your employee complete a TD1 form within seven days of being hired. You also have to send your employee a T4 information slip by the last day of February following the year...
GST/HST Filing Deadline 2022

GST/HST Filing Deadline 2022

GST/HST Filing Deadline If you are self-employed GST/HST Registrant, you will need to file a GST/HST Return on a regular basis, even if you have no income to report. GST/HST registrants have “reporting periods” which are monthly, quarterly or annually. Monthly and...
Tax Filing Deadlines for Final Tax Returns 2022

Tax Filing Deadlines for Final Tax Returns 2022

Tax Filing Deadlines for Final Tax Returns If you are the legal representative of a deceased person, you are in charge of ensuring their final tax return is submitted to the CRA. If the individual passed away between January 1 and October 31 of the tax year, their...