You can pay your taxes, in whole or in part, when you file your return, or you can wait until after you receive your Notice of Assessment. Payment On Filing - via Online Banking* If you want to pay when you file your return, you can do so through online banking. Set up the [...]
As we approach one of the biggest tax filing days of the year* and tension rises, it’s time to remind everyone of one important thing: Even if you can’t afford your tax bill, file your tax return on time Bonaventure Personal Tax Advisors: Next Level Tax Preparation Next Level Tax Preparation means you can [...]
What is My Account? My Account is the online system CRA uses to give taxpayers access to their tax accounts. Many Canadians rely on CRA My Account to view tax slips, check notices of assessment, and track refunds or benefit payments. Once you have access, CRA My Account allows you to: View Notices of [...]
Q: I did some work in December and sent out an invoice that got paid in January. Do I have to declare the income in the year when I billed, or in the year when I got paid? A: There are two ways of declaring income: accrual and cash. With Accrual, the income is [...]
Here at Bonaventure Personal Tax Advisors, we serve a lot of new clients who come to us having fallen several years behind on their income tax filing. It's some of the most deeply rewarding work we do, because we’re able to not only help with taxes (as always), but alleviate a lot of emotional [...]
Coming home from Mexico, where it was a balmy 27°C, to an overnight snowfall here in Canada was a bit of a shock to the system. Most people prefer life with as few shocks as possible—and I’m no different. That’s one of the reasons I’m a mostly conservative tax preparer. Here’s the thing: the CRA [...]
Q: Should I keep my GST/HST number even though I earn well below the $30,000 threshold? I registered for the GST/HST for self employment back when I was a full time performer. But have now I only do a few voice over gigs a year. I’m tired of the extra GST/HST filing, but I worry [...]
You may be feeling guilty or ashamed about filing late returns going back a few years, but there’s probably a good reason you fell behind. Why Do People File Late? It starts with the first one... Lots of people who normally stay on top of their taxes end up slipping one year because life throws [...]
Why It’s So Hard to Reach CRA—and How to Make the Most of Your Call If you’ve ever had to call the Canada Revenue Agency (CRA), you know it’s not exactly a quick phone call. Between the endless hold music, long wait times, and the occasional click of a dropped call, it can feel like [...]
If you’ve received a garnishment notice from the Canada Revenue Agency (CRA), you’re not alone—and you’re not out of options. Garnishment is one of the tools the CRA uses to collect unpaid tax debt. When it happens, the CRA contacts your employer and instructs them to withhold part of your paycheque to apply against [...]
