T-Slip Deadline

The deadline for T4-prefix slips is normally the last day of February following the calendar year to which the income relates (ie. T4, T4A, T4A-RCA, T4PS, T4RIF, T4RSP and T215). The deadline for T5-prefix slips is normally the last day of February following the...

Keeping Business Records in an Electronic Age

All businesses operating in Canada, from multinational corporations to the smallest start-up, are required to keep business records recording their income, expenses, and, ultimately, the profits on which they will be taxed. Traditional formats such as paper ledgers...

How Businesses can Prepare for their Yearends

  So another yearend is around the corner for your business. Do you have everything ready? When is a good time to start organizing and submitting your records? It is recommended that you advise your accountant when you will be bringing in your yearend records so...

What Triggers a CRA Audit?

  When clients are audited by the Canada Revenue Agency, one of the first questions they ask is “Why me?” Generally, CRA Auditors are coy about the subject when asked – they will tell you that the “system” selects your tax return for review randomly...