Personal Taxation
Canada Revenue Agency (CRA) requires all individuals to file a Personal Tax return by April 30th of each calendar year. If individuals are self-employed, then this deadline is extended to June 15th. Whether you attend a post-secondary institution, are employed or self-employed, or simply receive Pension and Old Age Security, we provide customized tax planning solutions that fit your needs. We recommend following these 5 main steps to better help us help you:
- Start planning early at the beginning of the current taxation year.
- This would include performing the simplest tasks such as reviewing CRA’s monthly tax tips.
- Keep receipts and records in order throughout the year.
- For example, a common missed item on personal tax returns in the public transit credit. Placing these in a folder as they expire each month reduces last-minute scrambling.
- Ensure that you receive all relevant slips (T4, T4A, T5).
- The Personal Tax return is prepared based on slips you provide to us. Placing them in a folder throughout the year reduces the need to obtain duplicate copies.
- Decide if assistance is required.
- Self-employed individuals may be limited in time to organize receipts in good order. This goes back decide if you require us to prepare your bookkeeping for tax preparation.
- Prepare summary schedules, organize receipts.
- Summarizing your different sources of income or adding up expenditures incurred for rental properties will save you time and money in tax preparation fees.
Corporate Taxation
All incorporated entities are required to file their corporate T2 tax return 6 months following the corporations fiscal year end. We provide compilation engagements, prepare financial statements, corporate tax filings, provide effective tax planning advice and general business consulting for your organization. Whether you require Nil filings, are a first time filer, or been in operation for many years, we ensure a consistent level of quality service is provided. We provide a full spectrum of services:
- Preparation of annual T2 Corporate Tax Filings.
- Preparation of Financial Statements on monthly/quarterly/annual basis.
- Preparation of GST/PST/HST returns.
- Registration of GST/PST/HST accounts with CRA and Ministry of Finance.
- Preparation of Worksafe BC returns.
- Scientific Research & Experimental Development assistance.