Individual tax returns need to be filed by April 30th and taxes need to be paid by that date. Sole proprietorships and partnerships do not need to be filed until the 15th of June, however, the taxes have to be paid by the 30th of April. We at Saunders do our best to ensure that your return is filed on time and that any tax liabilities are known prior to the due date to prevent interest and penalties which can accrue quickly.
Corporations need to prepare financial statements and an annual corporate return. The taxes on corporations are due 3 months after the year end date and the information returns are due 6 months after the year end. We will prepare your financial statements and file your corporate return for you electronically so that you don’t have to worry about your return being lost in the mail and extra interest and penalties being applied.
Upon the death of your significant other, their assets are either sold to an estate or rolled to their spouse. We will file the necessary filings for the Final T1 as well as the estate return up until the closing of the estate.
Not for profit organizations are not exempt from filing and information return. Come in and talk to us about your charitable organization.
Non Resident Canadians are people who earn income in Canada but do not reside in Canada. The incomes earned from their Canadian employment and business sources are taxable in Canada. For those Canadian residences who earn income in the states, US tax returns need to also be filed. Those who depart from Canada and give up their Canadian residency must file a final T1 disposing of all Canadian assets. If you are planning on emigrating from Canada, please come in and see us so we can help you prepare for your big move.