Bhamji Taxation Services Inc. wishes you and your family a happy and safe holiday season and all the best for the New Year 2023!
The Canada Revenue Agency (CRA) says it has received a significantly higher volume of calls from taxpayers this tax season compared to a year ago and, as a result, wait times to access services have also increased. Read More Original Article Source Credits: CTV News , https://www.ctvnews.ca/ Article Written By: Sarah Turnbull Original Article Posted on: May 12, 2021 Link to
With most taxpayers having already filed their 2020 tax returns (self-employed workers and their spouses or partners have until June 15 to file), the next tax event is the second quarterly tax instalment for 2021. In February, the Canada Revenue Agency (CRA) sent out reminders to taxpayers who are required to pay quarterly tax instalments.
You are required by law to keep records of all your transactions to be able to support your income and expense claims. A record is defined to include an account, an agreement, a book, a chart or table, a diagram, a form, an image, an invoice, a letter, a map, a memorandum, a plan, a
If your business is incorporated, Canada Revenue Agency requires financial statement information to be filed using the GIFI, or General Index of Financial Information for Corporations. If notes to the financial statements, or an auditor or accountant’s report were prepared, they should also be submitted with the tax return. Audited financial statements are not required
The CRA will provide one T4A slip that includes all the COVID-19 benefit amounts you received from the CRA. Each benefit will have its own box number on your T4A slip. If you have not received your T4A slip, you can get a copy from CRA My Account, but if not, then call the CRA. Read More Original Article Source Credits: Government