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Filing T4 at the Last Minute!
Deadline is closed to file your T4 to your employees and maybe yourself. CRA actually make it easy for you the employer to file T4 (as usual government invest lots of tax payers’ money to ensure the...
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Paying Yourself Dividends – Pros and Cons
This method is used by a lot of business owners, directors and other board members, since they are investors of the business. What is Dividend? Dividend is the return on investment from the business...
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T5 Penalties and Interest
The penalty for late filing T5 (both slips and summary) is: $25 per day, minimum of $100 to maximum of $2500 for each slips Interest on penalty for late filing: Compounded DAILY at prescribe rate on...
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Filing T5 – Paying Dividend
First and foremost, the deadline to file your T5 slips (and all other T-slips) is Feburary 29, 2008. Filing in Paper Form – Recommend for small amount of T5-slips Calculate how much your company...
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File Tax Online – NetFile vs EFile?
There are two ways you can file online. If you are filing your own tax and have been browsing the CRA website, you should know that there are two options: Netfile, and Efile. So what is the different?...
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2008 Payroll T4 Deadline
Although I have posted this deadline last year, I would like to remind you on the day as the deadline for submitting T4 slips for your payroll is approaching very quickly. This also applies to all...
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Tax Rate 2008
Tax season is approaching. By now you should have received your income slips from your employer. If you are a business owner, you probably also wants to find out how much tax you will need to pay for...
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Ontario Combines GST and PST into HST, Good or Bad?
July 1, 2010 is an important day for all of Ontarians. Ontario has proposed a tax reform to follow some other province’s’ footsteps to combine both GST and PST into one, called Harmonized Sales Tax...
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Beginning of HST – How HST Affect Your Business
Canada Day, also the first day of HST officially apply to British Columbia and Ontario. Who To Call for HST Questions? CRA has taken serious step to assist business on this transition. Even Canada...
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Paying Yourself Dividend vs Salary (Part 2)
A few years back I have written an article about how to pay yourself, and in there we have compare the difference between dividend and salary. At that time the legislation of Trust (T3) has changed...
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