Stay Ahead of Canadian Tax Deadlines with Shajani CPA: Your Trusted Partner

Introduction

Tax deadlines in Canada are crucial dates that individuals and businesses must remember to remain compliant and avoid penalties. Navigating these deadlines can be challenging, especially for family-based businesses with diverse obligations. Shajani CPA, a firm celebrated for its 40-year legacy and accolades like being one of Canada’s Top 10 Tax Advisory Firms, Consumer Choice Award winners in Alberta and designations such as Chartered Professional Accountants, Trust and Estate Practitioner, Masters in Tax Law, and Masters in Business Administration, is here to ensure you never miss a deadline. Our expertise extends to all areas of tax filing, from corporate to personal, making us your ideal partner in tax compliance.

1. Corporate Tax Deadlines

Key Aspect: Corporations must file their tax returns within six months after the end of their fiscal year, however most are required to pay any taxes owed within three months of their fiscal year end.

Shajani CPA Advantage: We provide timely and accurate corporate tax filing services, coupled with reminders, ensuring your business meets its obligations without stress.

2. Personal Tax Deadlines

Key Aspect: The deadline for most individuals is April 30th, while self-employed individuals and their spouses have until June 15th.

Shajani CPA Advantage: Our team ensures your personal tax filings are prepared accurately and submitted on time, giving you peace of mind.

3. Payroll Remittances

Key Aspect: Employers must remit their payroll deductions to the CRA regularly, depending on their remitter type. Many of our clients remit on the 15^th day of the month following payment.

Shajani CPA Advantage: We manage your payroll remittances efficiently, ensuring timely and compliant submissions to avoid penalties.

4. T4 and T5 Deadlines

Key Aspect: T4 and T5 slips, reporting employment income and investment income respectively, must be filed by the end of February.

Shajani CPA Advantage: Our meticulous approach guarantees that your T4 and T5 filings are accurate and submitted well before the deadline.

5. Underused Housing Tax

Key Aspect: The UHT is due on April 30^th of each year for residential property held at December 31 of the previous year.

Shajani CPA Advantage: We specialize in handling the unique tax requirements of the UHT.

6. T1134 and T1135 Filings

Key Aspect: These forms, related to foreign income and property, have specific deadlines that vary based on the fiscal year-end and individual circumstances.

Shajani CPA Advantage: Our expertise in international taxation ensures that your T1134 and T1135 filings are accurate and timely.

7. Other Important Deadlines

Key Aspect: Various other deadlines apply to different tax scenarios, such as GST/HST remittances, charitable return filings, and more.

Shajani CPA Advantage: We stay on top of all relevant tax deadlines, providing comprehensive services to cover all your tax filing needs.

8. Proactive Tax Planning

Key Aspect: Proactive planning can help you manage deadlines effectively and take advantage of tax-saving opportunities.

Shajani CPA Advantage: We offer strategic tax planning to not only keep you compliant but also optimize your tax position.

9. Customized Solutions for Family Businesses

Key Aspect: Family businesses have unique tax filing needs and deadlines.

Shajani CPA Advantage: Our tailored approach caters specifically to the nuances of family-based businesses, ensuring personalized and efficient service.

10. Continuous Support and Reminder System

Key Aspect: Keeping track of multiple tax deadlines can be overwhelming.

Shajani CPA Advantage: We provide ongoing support and a reminder system to ensure you’re always informed and prepared for upcoming deadlines.

Conclusion

Staying ahead of tax deadlines is essential for smooth business operation and personal financial management. Shajani CPA offers the expertise, experience, and personalized services to ensure that you meet every deadline with confidence. With our guidance, tax season becomes less daunting, allowing you to focus on what matters most – running your business and enjoying your life. Contact us today to ensure your tax filings are in capable hands.

 

This information is for discussion purposes only and should not be considered professional advice. There is no guarantee or warrant of information on this site and it should be noted that rules and laws change regularly. You should consult a professional before considering implementing or taking any action based on information on this site. Call our team for a consultation before taking any action. ©2024 Shajani CPA.

Shajani CPA is a CPA Calgary, Edmonton and Red Deer firm and provides Accountant, Bookkeeping, Tax Advice and Tax Planning services.