FAQs
Pros and Cons to Incorporation
At some point, all small business owners need to consider whether or not to incorporate their business. In general, if you are earning more than you are spending personally, incorporating your business will most likely benefit you. However, in order to make the decision that is best suited for you… Read More about “Pros and Cons to Incorporation”
I’ve had a strange call/voicemail/email from the “CRA” – is this a scam?
There are many fraud types, including new ones invented daily. Taxpayers should be vigilant when they receive, either by telephone, mail, text message or email, a fraudulent communication that claims to be from the Canada Revenue Agency (CRA) requesting personal information such as a social insurance number, credit card number,… Read More about “I’ve had a strange call/voicemail/email from the “CRA” – is this a scam?”
What’s involved in GST/HST Registrations?
The following link to the CRA website provides links to access GST/HST forms and guides. http://www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/menu-eng.html We can assist you with all of your GST/HST-related questions, including registration, calculating GST/HST payable or refundable, and filing requirements.
When are my personal income tax installments due – 2018.
Your personal income tax installments are due on the following dates: March 15 June 15 September 15 December 15
When are my corporate tax returns and final tax payments due?
Generally, the balance of tax payable is due 2 months after the end of the taxation year. However, the tax is due 3 months after the end of the taxation year under certain conditions. Please visit www.ccra-adrc.gc.ca/E/pub/tg/t4012/t4012-03-e.html#P84_4667 for more information.
Where can I get tax information for small businesses?
The following link to the CRA website provides information for businesses including business registration, corporate income tax, payroll and HST.http://www.cra-arc.gc.ca/tx/bsnss/menu-eng.html We’ve helped start many small business organizations at the onset and can help save you money in the long run.
What are CRA’s record-keeping requirements?
The Canada Revenue Agency (CRA) recently released revised guides and circulars regarding record-keeping, retention and destruction of records and electronic record keeping. (RC4409, IC 78-10RY and IC 05-1) Visit http://www.cra-arc.gc.ca/tx/bsnss/tpcs/kprc/menu-eng.html to read these documents.
