February is the month of T4’s and T5’s for most employers. If you had any employees during the 2012 calendar year, then CRA (Canada Revenue Agency) requires you to file T4’s and T5’s by February 28, 2013. There is no flexibility on the deadline and the penalties and interest start adding up on March 1st. The penalties also are based on the number of information slips you were required to file ...
T4 Slips and T4 Summaries can be filed in a number of ways:
Posted by: Juliet Aurora+
If you have ever had a job in Canada you’ve likely received a T4 slip at some point in your life, whether it was for a summer student job or as a full-employee in your career.
But what exactly is a T4 slip and why is it important that it is prepared? (You can download a copy of a T4 Slip here)
A T4 slip is a mandatory ...
Continue Reading →Posted by: Juliet Aurora+
Here is the next tip in our series of Tax Tips.
There is usually an added benefit if payments for charitable donations for two years are grouped into one year. This is due to the fact that the first $200 of donations is eligible for a 15% federal non-refundable credit in 2010 while the excess over $200 is eligible for a 29% credit. You’ll receive a larger credit if ...
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