It’s time to keep an eye out for T Slips!

It’s time to keep an eye out for T Slips!

Watch your inbox, your mail box and your online accounts for end of year reporting statements from investments and all your T Slips. There’s no penalty from CRA the first time you miss a slip on your tax return. If, however, you miss reporting two slips over a certain...
T5 – Return of Investment Income

T5 – Return of Investment Income

As a small business owner, you may be asking yourself: “Do I need to submit a T5 slip?” The T5 filing deadline is the last day of February following the calendar year to with the income relates. This year, since February 28 falls on a Sunday, the filing deadline is...
RRSPs – Check your Contribution Limits

RRSPs – Check your Contribution Limits

It is getting to that time of year once again and the deadline for contributing to your RRSP is fast approaching. Any contributions you make towards your RRSP for the 2020 taxation year must be done before March 1, 2021. There can be significant penalties and interest...
BC Recovery Benefit

BC Recovery Benefit

Have you applied for your BC Recovery Benefit yet? If not, we can help you. In late 2020, the BC Government approved a one-time, tax-free payment for eligible BC residents.   The payment is calculated as follows: Families and Single Parents If your household income in...