Financial expertise that moves your business forward.

• For individuals: on or before April 30 of the next year.
• For self-employed: on or before June 15 of the next year.
• For corporations: within 6 months after the end of the taxation year.
• For trusts: within 90 days after year end.
• For deceased individuals: later of 6 months after death and the normal due date.

• It is your responsibility to file your taxulting returns within the due date. If you miss the due date, you may face several problems. For example, your child’s tax, GST/HST, or trillium benefits may be stopped.
• However, you can file your tax returns even after the due date.
• But if you are balance owing, you have to pay penalty and interest.
• Kennedy Tax  can help you to file your previous income tax returns for up to 10 years.

• You have to pay generally 5% penalty of the unpaid tax, 1% interest for each full month ( 12 months maximum).

You need to keep the following documents (if applicable):

• All T4, T4A, T4E, T4RSP, T5007, RC-62, T3, T5 and other income slips.
• Rental/property tax receipt.
• Donations / Medical exp. / child care exp. / RRSP (contribution / withdraw against HBP) / interest paid for a student loan.
• For seniors: T4A (P), T4 (OAS), T4 RSP, T4 RIF, T4 A, T3, T5.
• For students: Tuition, education receipt (T-2202 A), T4A.
• For rental income: Rental income & all home-related expenses.
• For self-employed / corporation: Bank statements, all income, and expenses slips.
• Your last year’s notice of assessment/reassessment.

In this scenario, you cannot do your tax file again for that year(s). You have to do your T-1 adjustment, and send it to taxulting by post.Or we can make adjustment & sent e-file to CRA.

For a self-employed income tax return, you need to keep all the bank statements, your income slips, and all the invoices (expense receipts) related to business.

When you have a car and you are using it for your business, you have to preserve fuel, repairs and maintenance, lease payments (if applicable), and other vehicle-related expenses.

For UBER please bring the followings:
Uber summary
Access code
HST Reporting period
For Lyft & Uber eats bring your all hard copies which they sent to you.

• If you do not have any rental income, you need to keep the property tax receipt for tax purposes.
• When you have rental income, you require to preserve all of your house-related expenses receipts or documents, such as home insurance, interest paid for mortgage, legal fees, management and administration fees (applicable for a condo), maintenance and repair, property tax and utility (hydro, water, gas, etc.) bills.
• Yes, we are always with you once you are our client.
  We will handle any and all questions from the taxulting and will explain how we prepared your tax return.

• It is your responsibility to submit your tax return and pay taxes (if applicable) within the due date.
• If your corporation is tax owing and does not pay the balance owing, taxulting may freeze your bank account, garnish your receivables, and even can put a lien on your property.
• They can also put you on a trial through the courts.

• Yes, we are always with you once you are our client.
• We will handle any and all questions from the taxulting and will explain how we prepared your tax return.
• If you are not our client, you can get free audit services up to 15 minutes.