Did you know?
If you’re incorporated, you have six months to file following the end of your fiscal year.
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Own and rent your cottage out?
If you have a cottage that you own and rent out, keep your receipts. And make the claims in the right year. “Allowable expenses are usually deducted on a cash basis – that is, in the calendar year in which you incur them – as long as you match them to the revenue earned in the same period. These can range from the advertising of the cottage all out to landscaping costs and common things such as maintenance and repairs.”
Have questions?
Give us a call at 905-571-2665 (BOOK)!
We’ve got you covered!
Did you know?
While traditionally all tax owing must be paid by April 30th if you’re self-employed, you and your spouse (married or common-law) have until June 15th every year to file your tax returns. As long as your return is filed by that date, you will never be charged the late filing penalty of 5%.
Have questions?
Give us a call at 905-571-2665 (BOOK)!
We’ve got you covered!