How Do I Pay If I Owe Income Tax in Canada?
You can pay your taxes, in whole or in part, when you file your return, or you can wait until after you receive your Notice of Assessment. Payment On Filing - via Online Banking* If you want to pay...
View ArticleWhat to Do If You Can’t Access Your CRA My Account
What is My Account? My Account is the online system CRA uses to give taxpayers access to their tax accounts. Many Canadians rely on CRA My Account to view tax slips, check notices of assessment, and...
View ArticleHow to declare income when you invoiced in one year but got paid in another.
Q: I did some work in December and sent out an invoice that got paid in January. Do I have to declare the income in the year when I billed, or in the year when I got paid? A: There are two ways of...
View ArticleFalling Behind In Your Taxes Doesn’t Make You A Bad Person | Filing Back Taxes
Here at Bonaventure Personal Tax Advisors, we serve a lot of new clients who come to us having fallen several years behind on their income tax filing. It's some of the most deeply rewarding work we do,...
View ArticleAvoiding Tax Shocks: Why I File Conservatively (Mostly)
Coming home from Mexico, where it was a balmy 27°C, to an overnight snowfall here in Canada was a bit of a shock to the system. Most people prefer life with as few shocks as possible—and I’m no...
View ArticleShould I keep my GST/HST number?
Q: Should I keep my GST/HST number even though I earn well below the $30,000 threshold? I registered for the GST/HST for self employment back when I was a full time performer. But have now I only do a...
View ArticleWhy Good People File Taxes Late | Filing Back Taxes
You may be feeling guilty or ashamed about filing late returns going back a few years, but there’s probably a good reason you fell behind. Why Do People File Late? It starts with the first one... Lots...
View ArticleIt’s not too late to file your taxes!
April 30 may have come and gone, but if you haven’t filed your income taxes there’s still hope. It’s always worthwhile to file as soon as possible, even if you’ve missed the magic date. Self-employed,...
View ArticleFile On Time Even If You Can’t Pay
As we approach one of the biggest tax filing days of the year* and tension rises, it’s time to remind everyone of one important thing: Even if you can’t afford your tax bill, you really, really, really...
View ArticleShould you take out an RRSP loan?
Contributing to your RRSP is a great thing, but an RRSP loan isn't always the best way to do it. Around this time of year you’ll start seeing banks promoting the idea of RRSP loans, where you borrow...
View ArticleGoing back to school? Use this trick for tax savings.
Plan ahead to get a tax bonus using the money you've saved for tuition The Canada Revenue Agency encourages continuing your education via the Lifelong Learning Plan, or LLP. Under this program you may...
View ArticleBefore You Call CRA: Read This First
Why It’s So Hard to Reach CRA—and How to Make the Most of Your Call If you’ve ever had to call the Canada Revenue Agency (CRA), you know it’s not exactly a quick phone call. Between the endless hold...
View ArticleWhat to do if Canada Revenue Agency (CRA) is garnishing your wages
If you’ve received a garnishment notice from the Canada Revenue Agency (CRA), you’re not alone—and you’re not out of options. Garnishment is one of the tools the CRA uses to collect unpaid tax debt....
View ArticleWhy you should hire a tax preparer or accountant
Q: I began working as a freelancer last year. I've never filed my taxes as a self-employed person before, and when I went to [Big Tax Franchise*] they quoted me a minimum of $500 to file my taxes as a...
View ArticleWhat to do with a letter from CRA
How to respond to a letter from CRA without losing your mind Getting a letter from the Canada Revenue Agency (CRA) can make your heart skip a beat—but before you go into panic mode, take a deep breath....
View ArticleIt’s not too late to file your taxes!
April 30 may have come and gone, but if you haven’t filed your income taxes there’s still hope. It’s always worthwhile to file as soon as possible, even if you’ve missed the magic date. Self-employed,...
View ArticleFile On Time Even If You Can’t Pay
As we approach one of the biggest tax filing days of the year* and tension rises, it’s time to remind everyone of one important thing: Even if you can’t afford your tax bill, you really, really, really...
View ArticleShould you take out an RRSP loan?
Contributing to your RRSP is a great thing, but an RRSP loan isn't always the best way to do it. Around this time of year you’ll start seeing banks promoting the idea of RRSP loans, where you borrow...
View ArticleGoing back to school? Use this trick for tax savings.
Plan ahead to get a tax bonus using the money you've saved for tuition The Canada Revenue Agency encourages continuing your education via the Lifelong Learning Plan, or LLP. Under this program you may...
View ArticleCan a joint tenant use the home buyer’s plan or the first home savings account?
Can a joint-tenant qualify as a first-time homebuyer? Q: I'm a joint tenant in my current home, and I'm ready to buy my own place. Can I use the Home Buyers' Plan (HBP) or the Tax-Free First Home...
View Article
![[-100%] Commodity Intelligence – (Android Apps)](http://play-lh.googleusercontent.com/j67-qJvmnn4xnVlYVZ9ZhtZUJIgwjKekJGoKQT6D1KHcWGZxtQaFroummEvwV17na7tyh1pGbbeWCRdWtTKqeg=w950-h950)