Did You Know?

Posted in Important Facts on May 24th, 2009 by Jan – Be the first to comment
  • Taxi receipts include the GST amount.
  • Parking receipts include the GST (5%)
  • Insurance never has taxes.
  • Incorporating your business is not necessarily the best way to save money. Incorporation is very expensive, so be sure to check all the advantages and disadvantages before embarking on this process. Talk to an accountant first!
  • If you own a business, you do not need to file your income tax by the end of April. In fact your taxes are not due until June. However, if you owe the government money, this is due by April 30th unless you want to pay penalties and interest. If you are incorporated, your income tax is due 3 months after year end, but the return filing deadline is 6 months after year end.