What Tax Season Means for Canadian Accountants
Tax season is a busy time for accountants who specialize in taxation. It is important to know exactly what to expect during tax season in Canada.
In 2020, the tax deadline was extended to the end of September 2020 due to the complications presented by the COVID-19 pandemic. Although the pandemic is ongoing, the 2021 deadline has not been extended.
The exact start date of tax season can be hard to pin down, but the CRA has suggested that people will be able to file their taxes as early as February 22nd, 2021. April 30th, 2021 is the general deadline for filing taxes. Self-employed individuals or people with a spouse or common-law partner who is self-employed have a later deadline of June 15, 2021.
There is no getting around the fact that tax season is going to be a busy time for an accountant and it can also be the most stressful. Long hours are the norm during tax season and that can take its toll on even the most skilled accountant.
Whether you are ready for it or not, tax season is upon us. Now is the perfect time to set yourself up for success before tax season is in full swing. If you are not quite ready for the season then we can help you.
Accounting Services include:
- Tax compliance
- Tax planning for owner-manager remuneration
- Family tax minimization
- Retirement planning
- Asset protection
Corporate Tax Services offered:
- Corporate tax return (T2) preparation
- Holding company structuring
- Salary vs. dividend consideration
- Income and capital tax minimization
- GST/HST return filing
Scott Gray, CPA, CMA, and his team specialize in providing personal taxes to business owners that require an integrative approach to their taxes. We also provide assistance to people that may have a portfolio of real estate.
As a Chartered Professional Accountant, Scott knows that many business corporate taxes and personal taxes are intertwined and therefore offers the integration of both services to help further drive efficiencies.