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Global Questions

  • For individuals: on or before April 30 of the next year.
  • For self-employed: on or before June 15 of the next year.
  • For corporations: within 6 months after the end of the taxation year.
  • For trusts: within 90 days after year end.
  • For deceased individuals: later of 6 months after death and the normal due date.
  • It is your responsibility to file your income tax returns within the due date. If you miss the due date, you may face several problems. For example, your child's tax, GST/HST, or trillium benefits may be stopped.
  • However, you can file your tax returns even after the due date.
  • But if you are balance owing, you have to pay penalty and interest.
  • Kennedy Tax  can help you to file your previous income tax returns for up to 10 years.
  • You have to pay generally 5% penalty of the unpaid tax, 1% interest for each full month ( 12 months maximum).
You need to keep the following documents (if applicable):
  • All T4, T4A, T4E, T4RSP, T5007, RC-62, T3, T5 and other income slips.
  • Rental/property tax receipt.
  • Donations / Medical exp. / child care exp. / RRSP (contribution / withdraw against HBP) / interest paid for a student loan.
  • For seniors: T4A (P), T4 (OAS), T4 RSP, T4 RIF, T4 A, T3, T5.
  • For students: Tuition, education receipt (T-2202 A), T4A.
  • For rental income: Rental income & all home-related expenses.
  • For self-employed / corporation: Bank statements, all income, and expenses slips.
  • Your last year's notice of assessment/reassessment.

In this scenario, you cannot do your tax file again for that year(s). You have to do your T-1 adjustment, and send it to Canada Revenue Agency (CRA) by post.Or we can make adjustment & sent e-file to CRA. 

For a self-employed income tax return, you need to keep all the bank statements, your income slips, and all the invoices (expense receipts) related to business.

When you have a car and you are using it for your business, you have to preserve fuel, repairs and maintenance, lease payments (if applicable), and other vehicle-related expenses.

For UBER please bring the followings:
Uber summary
Access code
HST Reporting period
For Lyft & Uber eats bring your all hard copies which they sent to you.

  • If you do not have any rental income, you need to keep the property tax receipt for tax purposes.
  • When you have rental income, you require to preserve all of your house-related expenses receipts or documents, such as home insurance, interest paid for mortgage, legal fees, management and administration fees (applicable for a condo), maintenance and repair, property tax and utility (hydro, water, gas, etc.) bills.
  • Yes, we are always with you once you are our client.
    We will handle any and all questions from the Canada Revenue Agency (CRA) and will explain how we prepared your tax return.
 
  • It is your responsibility to submit your tax return and pay taxes (if applicable) within the due date.
  • If your corporation is tax owing and does not pay the balance owing, Canada Revenue Agency (CRA) may freeze your bank account, garnish your receivables, and even can put a lien on your property.
  • They can also put you on a trial through the courts.
 
  • Yes, we are always with you once you are our client.
  • We will handle any and all questions from the Canada Revenue Agency (CRA) and will explain how we prepared your tax return.
  • If you are not our client, you can get free audit services up to 15 minutes.

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