The answer is it depends. Whether you need or when you need register GST depends on what kind of supplies you are providing and how much you make from your taxable supplies. If your business only provides exempted supplies then you cannot register a GST account. Generally, there are two conditions to be met to …
Do you have to register GST for your new business immediately? Read More »
There are generally three kinds of source documents that you need keep: Income records, expense records and property records. For income records, it should indicate the date, amount, source of income and the original documents are as following: sales invoices cash register tapes receipts bank deposit slips fee statements contracts Your expense records should indicate …
What kind of financial records you should keep for your business? Read More »
CRA my account is the personal tax account in CRA system. Taxpayers should get familiar to your own account with CRA because it has multiple functions to hep you with your tax returns and benefits. You can change your contact information from this account, such as phone number, mailing address, family members, marital status, direct …
If you had a personal tax balance for year 2020, you maybe eligible for the extension of one year to pay the tax if you qualify all of the following: Condition 1, your total taxable income not more than 75,000. Condition 2, you received at least one of the covid-19 related benefits, such as CERB，CESB，CRB，CRCB，CRSB，EI …
Who is eligible to defer a year to pay the personal tax for 2020? Read More »