When is the deadline for filing a personal tax return in Canada?
The deadline for filing a personal tax return in Canada is April 30th of each year. However, if you or your spouse is self-employed, the deadline is June 15th. It is important to note that any taxes owed are still due on April 30th, regardless of the filing deadline.
What tax credits and deductions are available for personal tax returns in Canada?
There are many tax credits and deductions available for personal tax returns in Canada, including the basic personal amount, medical expenses, charitable donations, and tuition fees. A tax professional from Taxes at Joy can help you identify opportunities to claim tax credits and deductions and minimize your tax liabilities.
What happens if I miss the deadline for filing my corporate tax return?
If you miss the deadline for filing your corporate tax return, you may be subject to late-filing penalties and interest charges. It is important to file your tax return as soon as possible to avoid additional fees and charges.
Why do I need a tax consultant if I have an accountant on staff for my business?
Tax laws and regulations are constantly changing, and our team of tax experts stay up-to-date on these changes and provide customized tax planning strategies that minimize tax liabilities and maximize financial success. We can provide an objective viewpoint and an outside perspective, identifying potential tax savings opportunities that may have been overlooked and providing guidance on complex tax matters.
In addition, we can provide assistance with tax audits and disputes with tax authorities, which can be time-consuming and stressful for in-house staff. Our personalized service ensures that we take the time to get to know our clients and their unique financial situations, providing customized tax solutions that meet their needs and goals.