It’s tax time; Have you filed your taxes yet?
BNN Bloomberg
It’s that time of the year again, tax time, a time to file your annual return with the Canadian Revenue Agency.
That’s according to Michael E. Jakubo, a chartered professional accountant in Greater Sudbury, who says that oftentimes the information you call up on the Internet is based instead on American tax law.
Canadians have until April 30 to file their return and self-employed Canadians have until June 15.
Jakubo, however, is one of many experts who believe you may not want to leave it until June.
“The truth is, if you do have a personal, small business that’s included in your T1 general return, you do have until June 15th to file your general tax return but any taxes, or any HST that you’re owning to the government, all has to be paid by April 30th,” he said.
“So for any of our clients, whether they have a business, and they may be able to delay their filing until June 15th, we always want to get on top of that before the end of April so any balances can be paid on time; otherwise the CRA (Canada Revenue Agency) is going to go ahead and charge late payment fees.”
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