02/26/2024
POST OF THE WEEK
Ok, my posts of the week are not even posts of the month. I think I will change the name to Periodic Tips.đŸ˜€
An easy way to save money with CRA is to get everything filed on time. By filing on time you avoid penalties. You might still have to pay interest, but it is the penalties that really can cost you. Here are a few important filing deadlines to be aware of:
- Personal taxes without business income
- April 30th
- Personal Taxes with business income
- June 15th
- GST filing (this depends upon your filing frequency)
- Annual GST filers usually have until early May
- Quarterly filers have until the end of the month following the filing period.
- WCB filing (this also depends upon your filing frequency)
- Annual WCB filers usually have until early March
- Quarterly filers have until the 20th of the following month.
- PST filing
- Most PST is filed monthly with the report due by the end of the next month.
- There can be quarterly reports but they are due by the end of the next month as well.
- PST also gives you a commission for filing that they will take back if not filed and paid on time.
- Payroll
- Payroll deductions need to be paid by the 15th of the following month.
- T4's and the T4 Summary need to be filed by the end of February of the following year.
Even if you think you are unable to pay, it is better to file and avoid the penalty, as the interest will accrue regardless.
If you have questions about filing deadlines or anything else that could save you money with CRA, please get in touch with me. Saving you money is something I enjoy.
Bob Brotherston Consulting
604-885-1204
