You have to file your tax return on time even if some slips and receipts are missing. Under reported income may result in interest and/or penalties charge.
How to cope with missing information slips and receipts
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Category: Articles
Penalties and interest for filing your income tax return late
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If you owe tax and do not file your return on time, the Canada Revenue Agency (CRA) will charge you a late filing penalty and interest.
What date is your personal income tax return due?
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For ordinary Canadian individuals, the personal tax returns have to be filed on or before April 30. Income tax filing deadline for 2014 was extended to May 5, 2015.
How to determine the effective date of GST/HST registration
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If you are a small supplier, GST/HST registration is optional. But you have no choice but to register if you are no longer a small supplier. The effective date of your GST/HST registration depends on when you go over the small supplier threshold amount of $30,000. Here are two typical scenarios:
What are excise duties?
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There are two types of federal levies on a limited range of products manufactured or produced in Canada: excise taxes and excise duties.
Not all business advertising expense is tax deductible
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Despite the fact that the purpose you advertise your product or service is to generate or increase sales, you may find your advertising expense is not tax deductible if you don’t know the rules.
What are excise taxes?
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There are two types of federal levies on a limited range of products manufactured or produced in Canada: excise taxes and excise duties.
Family caregiver amount (FCA)
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If you have a dependant with an impairment in physical or mental functions, you may be eligible to claim an additional amount of $2,058 for one or more of the following amounts:
How to determine the GST/HST rate for inter-provincial sales of goods
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In order to determine the relevant rate of GST or HST to charge on a particular supply, you must first determine the province in which the supply is made. The rules that are used to determine the province in which the supply is made are referred to as place of supply rules.
Basic payroll information for employers
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As an employer, you are responsible for making regular deductions from your employees’ remuneration. You have to remit the deductions along with your share of contributions to the Canada Revenue Agency (CRA). And you have to report your employees’ remuneration and deductions on the T4 slips.