News Room

Late Filing Penalties: Talk About It!

While most T1 returns are in the hands of the Canada Revenue Agency (CRA) by April 30, we know many are not. In fact, millions of returns were still outstanding as of mid-May. Late-filing clients they need to know about the consequences, especially if they owe. Here’s a rundown to be aware of:

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Sharing valuable financial lessons learned is an important way to help the next generation avoid financial pitfalls. Financial Fotographs is a great guide to get the conversation started. Makes a perfect graduation gift!

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Audit Defence: A Business Builder for Business Owners

The tax filing deadline for unincorporated business owners is June 16 and filing late will attract penalties and potential audits.

Voluntary Compliance Can Mitigate Risk

CRA wants to remind you that fessing up can be profitable.
 
 
 
Knowledge Bureau Poll Question

Do you agree that public trustees, guardians and departments supporting Indigenous Services should be able to certify impairments for the Disability Tax Credit?

  • Yes
    14 votes
    16.67%
  • No
    70 votes
    83.33%