Sep 1, 2021 | Personal Tax and Finance
Several NPOs are more focused on their mandates and objectives, which leaves little time for administrative tasks like bookkeeping | iStock NPOs are provincially and federally incorporated, which means they are obligated to file a corporate tax return and... 
Mar 1, 2021 | Personal Tax and Finance
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... 
Feb 26, 2021 | Personal Tax and Finance
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... 
Feb 25, 2021 | Personal Tax and Finance
Every year RHN gets asked questions about RRSP’s. We have put a few of the most important together here! When do I need to make my contribution by? March 1, 2021 is the deadline for contributing to an RRSP for the 2020 tax year. Should I contribute to my RRSP? It... 
Feb 23, 2021 | Personal Tax and Finance
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... 
Feb 1, 2021 | Personal Tax and Finance
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...