Most Canadians who have income has to file his tax return.
There are many different kinds of income. We must distinguish between them. There are some 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.
Every resident of Canada can get different credits to reduce his tax obligations.
It depends from many factors , such as source of income, marital status, having children, and more.
Sometimes people do not even suggest what can help them to reduce taxes.
It's very important to contact to professional and be sure that you are on right way.
You have to file your tax return before April 30 of the following year if you are individual and don't have a business income.
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 interst.
You have more time for filing your tax return, until June 15th, but you have to pay your taxes before April 30 of the following year.
If you are a business owner and have employees, you have to file and pay social security payments .
The penalty and interest can be applied for late filing.
Before you start your own business , check all information and important dates .
The correct business structure and time handed reports save your money and nerves.