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Almost every person in Canada who has an income has to file his tax return.
There are many different kinds of income. We must distinguish between them. There are some kinds of non-taxable income, such as a capital gain from TFSA or scholarship for a full-time student.
The correct allocation of income and tax benefits is crucial in getting the maximum refund.
If you are a business and have employees, you have to file and pay monthly social security payments.
You can pay penalty and interest for late filing.
You have to file your tax return before April 30 of the following year if you are individual and don't have a business.
If you don't do it, you can get a penalty for late filing.
If you don't pay taxes before this day, you'll probably pay interest.
The information provided on this website is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Oksana Madera and FreeStyle Enterprise Ltd will not be held liable for any problems that arise from the usage of the information provided on this page.