Welcome to Fix My Books
Bookkeeping | Expertise Bookkeeping | Tax Preparation & Filing | Accounting System Setup Services
Grow your business.
Let us handle the bookkeeping.
How much can I save by outsourcing my bookkeeping?
Bookkeeping?
Tax Preparation & Filing?
Our Awards & Accolades
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2024 Forbes 30 Under 30 Semi-Finalist for Finance
Forbes North America
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2023 Bookkeeping Excellence Awards - New Firm of the Year - Winner
Certified Professional Bookkeepers of Canada
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2023 Equity Entrepreneur Award - Winner
Greater Niagara Chamber of Commerce - Women in Busines Awads
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2023 Emerging Business Award - Finalist
Greater Niagara Chamber of Commerce - Women in Business Awards
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2023 Women's Business Club Awards - Women in Finance - Runner Up
Women’s Business Club Awards
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2023 Startup of the Year - Business Services - Gold
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2023 Best Young Female Entrepreneur - Silver
The Stevie Awards
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2023 Best Female Entrepreneur in Canada - Bronze
The Stevie Awards
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2023 Female Entrepreneur of the Year (Young) - Gold
Globee Awards Women in Business
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2023 Female Achiever - Rising Star of the Year - Silver
Globee Awards Women in Business
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2023 Female Entrepreneur of the Year - Accounting - Silver
Globee Awards Women in Business
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2023 Women-owned Startup of the Year - Bronze
Globee Awards Women in Business
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2023 Entrepreneur of the Year - New Startup - Platinum
Titan Awards Women in Business
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2023 Entrepreneur of the Year - Future Leader of the Year - Gold
Titan Awards Women in Business
Bookkeeping Services
Monthly Bookkeeping
Whether your business is new or mature, small or large, single-owner operated or diverse, our boutique monthly bookkeeping services are customized to cater to all types.
Catch up & Clean up Bookkeeping
When life gets in the way, things can fall through the cracks. Whether you haven’t done your bookkeeping for a couple of months, or a few years, we can catch up and clean up your books.
Expertise Bookkeeping Services
Jane Payments App Medical Bookkeeping
If you’re a healthcare professional you are probably using Jane Payments App. If you aren’t sure how to accurately record the sales and payouts, you’ve come to the right place.
Legal Billing and Trust Accounting (IOLTA) Bookkeeping
Legal professionals and immigration consultants know how important trust account accuracy is for their clients. However, sometimes it can be difficult to get the trust account in balance.
Personal Real Estate Corporation (PREC) Bookkeeping
Whether you have just moved from a Sole Proprietorship to a PREC, or you have been running a PREC for a while but are inundated with admin work, we can help.
Amazon Bookkeeping
If you are new to Amazon Seller Central and Kindle Direct Publishing, or if you’re established and need some help figuring out your sales taxes, we are here to help.
Etsy Bookkeeping
Whether you are working with leather or wood, selling knickknacks or boutique customized products, bookkeeping and taxes may not be your cup of tea. Bookkeeping for Etsy is our specialty.
Shopify Bookkeeping
Selling to Canada, the United States, or globally via Shopify, you are probably stuck on sales taxes and struggling to reconcile various types of payment processors. Large or small, we’ve done it all.
Tax Preparation & Filing
Individual + Joint T1 Filing
If you’re new to taxes, stuck on a particular schedule, or tired of trying to work it out yourself, we get it. Your time is more valuable, so leave the paperwork headaches to us.
New Immigrant T1 Filing
Just landed in Canada and not sure if you have to file a return, or even how to file one? Even if you have no income it is best to file as 3 years of tax returns can be used for your citizenship application.
Rental Income T1 + T776 Filing
Do you own a rental property but are not quite certain on how to properly complete a T776, what can be claimed, and what is off-side? Sit back, relax, you’ve come to the right place.
Sole Proprietor T1 + T2125 Filing
Have you just started a small business? Or perhaps have been running your own operation for several years? We’ve seen it all, from contractors to copywriters, and dog-walkers to designers.
Partnership T1 + T2125 Filing
If you’ve just started a new partnership, or have an existing one with less than $2 million in revenue, and $5 million in assets, Fix My Books is here to help file your return.
Corporate T2 Filing + Bookkeeping
If you’ve started a corporation in Canada you have a lot to keep on top of. From annual filings and minute books, to payroll and dividends, as well as the bookkeeping and tax filing in between. Let us help!
Accounting System Setup Services
Quickbooks Online + Payroll Setup Services
If you are a new business needing to setup your accounting system, or expanding and requiring payroll, or even migrating from Quickbooks Desktop to Quickbooks Online, Fix My Books can help.
Amazon A2X Setup & Quickbooks Online Integration
If you are a new or existing Amazon seller and are stuck on trying to figure out how to integrate Amazon, A2X and Quickbooks Online, you’ve come to the right place. This is our specialty.
Etsy A2X Setup & Quickbooks Online Integration
Selling on Etsy but finding sales taxes to be a little overwhelming? That’s why we recommend integrating Etsy with A2X and Quickbooks to make sure your sales taxes are done right.
Shopify A2X Setup & Quickbooks Online Integration
We know that Shopify owner’s love their apps! We see dozens in each Shopify store, but sometimes there are a few which you need a little extra help with. We can help you integrate Shopify with Quickbooks and A2X.
People Love to Work with Us!
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“Incredible service! Arielle & Jason took something that made me really uncomfortable when it came to my business and completely changed the game for me so I could focus on the stuff I know how to do! I love that they utilize some great tools like ClientHub to make the process easy and effortless. Very happy that I found them to help with my business books! I was worried that I would feel dumb when it came to how I was running things but they made me feel instantly comfortable over Zoom! If you need to catch up on bookkeeping definitely reach out to Fix My Books.”
– Jonah, E-Commerce Beauty & Cosmetics
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“I've been working with Arielle and Jason for over a year for my bookkeeping and my taxes, and they're absolutely the best. It's so nice having two incredible people working on my business finances behind the scenes as they never leave me anything to worry about! I also love the use of ClientHub because it makes communication and getting things done so easy. The speed and efficiency with which they do things always blows me away. So happy to be working with Fix My Books!”
– Sarah, Business Software Consultant
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“We have been working with Arielle and the Fix My Books team for the past 2 years, and to say they are amazing would be an understatement. Their professionalism , ample knowledge, willingness to go above and beyond to make us feel comfortable, and the drive to set our business up for success has been immeasurable. I couldn't recommend Arielle and the Fix My Books team enough!”
– Nilab, Digital Advertising & Marketing
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“I have been working with Arielle at Fix My Books Inc. for over 6 months. We went through a full reconciliation of my books that were slightly out of date and she pulled everything together like a master. I have had my books reconciled every month since and it's been such a massive weight off of my shoulders knowing that I can count on her to keep my business financial picture accurate and up-to-date. I highly recommend Fix My Books Inc.!! Thank you Arielle for being so consistent and reliable!”
– Paul, Photographer
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“I found Fix my Books during a challenging time in my personal and professional life when I had a backlog of personal and business tax filings with an unknown liability ahead of me. Jason worked with me over months, giving sound advice and deep expertise until we were fully caught up. Jason, thank you for shepherding me through this. I had the good fortune to witness and benefit from your technical know-how and your character through the process. You have my gratitude, trust and admiration. You have my business, no doubt. I wholeheartedly recommend you, and Fix my Books to anyone in the market for solid business partnership and advice.”
– Ayesha, Public Speaker, Business Coach & Author
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“Fix My Books are the first bookkeepers that have actually understood my e-commerce business! They asked questions, did research, and built a custom plan to get my books in order and streamline my accounting & reporting. They're super friendly, easy to work with, and an indispensable resource for any small business owner.”
– Kimberly, E-Commerce Horror Clothing & Apparel
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“Hands down the best bookkeepers I've ever worked with. Incredibly knowledgeable, hard-working, reliable, and they're always available to answer any question I have. Fix My Books was a lifesaver for me and my small business.”
– Jonathan, E-Commerce Clothing & Apparel
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“I recently had the pleasure of working with Jason for my personal taxes, and cannot recommend him and Fix My Books highly enough. From start to finish, the experience was exceptional – Jason truly went above and beyond to ensure everything was completed quickly and with great attention to detail.”
– Morgan, Therapist
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“Arielle took over our bookkeeping earlier this year, and we are thoroughly pleased with her services. She is consistently accessible, knowledgeable, efficient and professional. From the start, Arielle has been impressively timely; she has a very streamlined approach to tasks and makes communication easy. I would highly recommend Fix My Books!”
– Nicole, Licensed Master Electrician
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“Arielle and her team demonstrated a deep knowledge of accounting and bookkeeping and have consistently provided expert advice and guidance on various financial matters. Their responsiveness and attention to detail are top-notch, and they are incredibly diligent about ensuring that my financial records are up to date. Overall, I can't recommend them highly enough. They are knowledgeable, trustworthy, and dedicated, and I feel fortunate to have them on my team!”
– Kawhi, E-Commerce Beauty & Cosmetics
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Our Memberships & Certifications
What You Can Expect From Us
Timely Response
We reply to your messages, emails and phone calls within the 24-48 hours.
We take pride and distinguish ourselves from others with prompt responsiveness and professionalism.
You deserve trustworthy bookkeeping, tax preparation and business planning professionals who will answer your questions, phone calls, and emails.
We do not go M.I.A. when you need us most!
Year-Round Support
We are here to provide you with support.
There are always a lot of questions when it comes to the complicated world of finance and taxation. As a business owner, you are always on call, and so are we.
There’s no stopwatch on this relationship. If you have a question, or you need something, just ask!
We want you to grow your business because we succeed together.
Proactive Guidance
We provide proactive guidance to improve your bottom line and grow your business.
Every business owner wants to have a profitable journey, however your historical performance is the basis for your books, but it is not a predictor of future performance.
If we see a process that can increase revenue or improve operational efficiency and margins - we will help you.
Client Portal
All of our clients are granted access to our Client Portal at no charge.
Here you can securely send messages, files and tasks so that we can quickly and effectively manage your books and provide you support and guidance.
All Client Portal data is hosted via Google Cloud and Amazon Web Services via US-based data centers and 256-bit encryption.
We aim to be available to our clients securely and conveniently.
Document Management
We get rid of your receipt shoebox and replace it with Hubdoc - a digital file cabinet that makes storing and sorting receipts simple .
Don’t keep stuffing your receipts into a box in the corner where it can become lost, forgotten or illegible.
Those are your tax savings going to waste.
Every client receives a unique email address with Hubdoc where they can send their receipts to and we will do the rest. No more data entry, no more filing.
Data Security
We take your data and financial information seriously! Super seriously!
We maintain both on-site and off-site backups of your data so that it doesn’t get lost in the woodwork and your business is not left stranded.
Off-site backups use end-to-end encrypted solutions that meet ISO 27001, HIPAA, CCPA, GDPR and DPA compliance standards.
Even if you don’t choose us, ask your bookkeeper and accountant what they do to keep your data secure.
News & Updates
This is Arielle’s interview with YourTV Niagara for International Women's Day. So proud and happy to be able to represent the Filipino community in Canada and be an inspiration to other immigrants as well!
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video we will be talking about the difference between Bookkeepers and Tax Preparers!
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video we will be talking about Bookkeepers and what to know before hiring a Bookkeeper.
What to expect
Things to look out for (Red Flags!)
The different stages of hiring your outsourced Bookkeeper
Tips and Tricks for you to start off your working relationship on the right foot!
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In honor of National Bookkeeping week, we decided to make this video! In this video we will be talking about Bookkeepers and Bookkeeping in General.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video I will be teaching you about Hiring your first Bookkeeper!
What to expect
Things to look out for (Red Flags!)
The different stages of hiring your outsourced Bookkeeper
Tips and Tricks for you to start off your working relationship on the right foot!
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video I will be teaching you guys all about how to file your 2023 T4's with the CRA using Quickbooks Online.
In this video I will be teaching you guys all about the new T4 reporting requirements for Employers in 2024 and how to enter this information in Box 45 of your employees T4's in Quickbooks Online!
In honor of National Bookkeeping week, we decided to make this video! In this video we will be talking about Bookkeepers and Bookkeeping in General.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be talking about How to Record Shopify Capital Loan in your Quickbooks Online Account.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be talking about How to Record HST Payment to the CRA with Bank Charge via PaySimply in Quickbooks Online.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be talking about how to record an HST Refund with Interest in your Quickbooks Online account.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle and Jason from Fix My Books will be talking about what type of mindset successful business owners have that separate them from the rest.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books talking about what to expect in terms of Recurring Expenses/ Costs in running a business in Canada - some realistic examples and their price range.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be talking about what to expect in terms of Startup Costs when you first open your business - some realistic examples and why some businesses would cost less than others.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be teaching you how to record customer deposits in Quickbooks Online.
There will be four steps in this video:
Setup of the Customer Deposits Item & Account
Creating a Customer Deposit Invoice
Creating a Sales Invoice
Applying the Customer Deposit towards the Sales Invoice
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be showing you how to respond to an HST audit by the Canada Revenue Agency (CRA) and the most common reasons why you are going through an HST Audit.
Arielle will be showing you guys what a real audit letter looks like and the most important information you need to remember from the Audit Letter!
Arielle will also show you how to find the reports and documents the CRA wants from you in order to respond to the Audit Letter and ensure that you have all the documents and/or invoices and receipts the audit letter is asking for.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be showing you how to respond to an HST audit by the Canada Revenue Agency (CRA) and the most common reasons why you are going through an HST Audit.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be showing you how I started my bookkeeping firm in Canada.
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be talking about some Bookkeeping Niches to consider for your bookkeeping business!
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be teaching you how to find out when your T2 Corporate Tax Return is due.
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations/corporation-income-tax-return/when-file-your-corporation-income-tax-return.html
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be showing you how I became a bookkeeper in Canada as an immigrant. My journey to become a bookkeeper started long before I even landed in Canada!
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be teaching you what the difference is between HST (Harmonized Sales Tax), GST (Goods and Services Tax) and PST (Provincial Sales Tax).
https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4055/t4055-newcomers-canada.html
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be teaching you how and where to find your CRA Notice of Assessment!
https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be teaching you what a refund transfer is!
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/refunds-transfer.html
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
In this video Arielle from Fix My Books will be teaching you where to mail your Corporate Tax Return (T2).
https://www.canada.ca/en/revenue-agency/corporate/contact-information/where-send-your-corporation-income-tax-t2-return.html
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
Pricing is one of the most important factors that has a direct impact on your profit. Pricing is how much you charge for your service. A pricing strategy is simply that—a strategic plan and it's a very significant one. If you don't approach it in this way, you can struggle to decide how much to charge. If you stumble for too long, you might never get it back. Pricing can make or break the lifespan and health of your business, regardless of your sector, product, or service. Let's dig into pricing 101.
In this video Arielle from Fix My Books will be teaching you where to mail your Tax Return (Individual T1).
https://www.canada.ca/en/revenue-agency/corporate/contact-information/where-mail-your-paper-t1-return.html
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
There are a variety of measurements that will actually allow you to determine the health of your business . While some techniques might be excellent business metrics, others might not be suitable or appropriate. With that in mind, let’s get pretentious about finance and explore the things that will help you determine if your company is in good financial health….
In this video Arielle from Fix My Books will be teaching you what Debits and Credits are and what the Accounting Equation is!
Check out my socials for other tips and tricks on how to run a successful business in Canada, and as always, feel free to message me with any questions!
The word "audit" is one of the things that scares business owners the most. I've compiled 10 warning signs for an CRA audit that you should watch out for…
If you're self-employed, navigating your tax obligations may seem complicated. But don't worry, the Canada Revenue Agency (CRA) is here to help you! To get ready for tax-filing season, we've put together helpful tips and information for self-employed individuals.
Life is full of responsibilities, from school and work to family and everything in between. We understand that taxes can easily slip to the bottom of your to-do list.
Don’t worry if you haven’t filed your 2023 income tax and benefit return yet – you still have time. Use the information below to help you complete and submit your tax return before the deadline.
Receiving a letter from the Canada Revenue Agency (CRA) telling you that you owe money can be stressful. Take time to read the letter fully to understand your payment options. We are here to help you understand how you can resolve your debt.
Crypto-assets are digital assets that exist on a cryptographically secured distributed ledger. There are many types of crypto-assets, the most common being cryptocurrencies, such as Bitcoin, Ethereum and Tether. Transactions related to crypto-assets often have tax implications and must be reported on your income tax return.
To make it easier for you to understand your tax obligations as a platform economy participant, we made a list of the top ten tips you need to know…
In recognition that the new reporting requirements for bare trusts have had an unintended impact on Canadians, the Canada Revenue Agency (CRA) will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust), for the 2023 tax year, unless the CRA makes a direct request for these filings.
Whether the earnings you make from online platforms is your main source of income, or a small part of it, you are considered to be a platform economy participant. When it’s time to file your taxes, you must report all sources of your income, including gifts and donations.
Crypto-assets are digital assets that exist on a cryptographically secured distributed ledger. There are many types of crypto-assets, the most common being cryptocurrencies, such as Bitcoin, Ethereum and Tether. Transactions related to crypto-assets often have tax implications and must be reported on your income tax return.
Excess contributions can occur, for example, when your TFSA is set up for pre-authorized contributions and you make additional contributions without verifying the amount of room you have available. This can also be the case when you have multiple TFSAs with different financial institutions and you are not tracking the contributions you are making to all accounts. You can avoid penalties by staying within the TFSA contribution room available to you.
If you bought, built, sold, or renovated a home in 2023, you might be wondering what that means for your tax situation. Don’t worry, the Canada Revenue Agency (CRA) is here to help. We have information about tax incentives that can help you with housing costs.
Every year, the Canada Revenue Agency (CRA) tracks the questions people ask and uses that information to design new services and improve our processes. We want to offer you the best service possible, so you can easily access the tax and benefit information you need.
If you’re an international student studying in Canada and a resident for tax purposes, you could get benefit and credit payments that can help with your cost of living. Check out our 3-minute benefits and credits video for everything you need to know about benefit and credit payments in Canada.
March is Fraud Prevention Month in Canada and around the world. The protection of taxpayers’ information is a top priority for the Canada Revenue Agency (CRA), and this annual campaign emphasizes the importance of being able to identify, prevent, and respond to fraud.
Worried about tax-filing season? Don’t be! Our easy-to-use digital services can improve the filing process and save you time. Using our services will also make it easier for you to manage your tax and benefit information online, and you’ll avoid delays and long wait times over the phone.
Doing your taxes can be intimidating, but you don’t have to do it alone! If you have a simple tax situation and a modest income, you could be eligible for help from a volunteer at a free tax clinic.
Did you open a First Home Savings Account (FHSA) in 2023?
If so, you need to be aware of this important information.
Every March, the Canada Revenue Agency (CRA) joins organizations around the world to recognize Fraud Prevention Month. Keeping your information secure is a top priority for the CRA. Learning how to identify fraud, scams and tax schemes helps keep your personal information safe.
At tax time, some of us may be excited to file an income tax and benefit return to receive a refund or benefit and credit payments. On the other hand, some of us may feel overwhelmed by the tax-filing process. The Canada Revenue Agency (CRA) understands, and we’re here to help.
Here’s a list of some of the most common mistakes we see at tax time. Avoiding these can save you time and help make the tax-filing process as simple as possible.
Understanding the tax filing and payment deadlines for Canadian businesses can be tricky since different businesses have different deadlines. When you factor in GST/HST responsibilities, it can be confusing. Use this tax tip as a quick reference point for important dates as you manage your tax affairs.
The Canada Revenue Agency (CRA) has recently discovered a tax scheme that targets newcomers to Canada. This scheme tells newcomers which benefit and credit payments they may claim for periods of time before they arrived in Canada. If you or someone you know is new to Canada, it’s important to be cautious. Promoters offering tax schemes could include tax representatives, tax preparers, or consultants.
For GST/HST reporting periods that begin in 2024, all GST/HST registrants, except for charities and selected financial institutions, are required to file returns electronically.
The mandatory electronic filing threshold that was in place for GST/HST returns has been removed for reporting periods that begin on or after January 1, 2024, which means that electronic filing is now required for most businesses.
The Canada Revenue Agency’s (CRA) SimpleFile by Phone (formerly File My Return) is a free, easy, automated phone service. It uses the information we already have on file, and the answers you provide, to auto-file and process your tax return.
Millions of Canadians file an income tax and benefit return every year. For the 2023 tax-filing season, Canadians filed more than 32 million tax returns, and more than 92% of them were filed electronically. There were also more than 18 million refunds processed, and Canadians who had a tax refund received an average of $2,262!
If you lived in a northern or remote area for six months or more in 2023, you may qualify for the northern residents deductions. These deductions recognize the unique challenges northern residents face, such as higher living costs and limited access to services. Find out if you lived in a prescribed northern zone (Zone A) or a prescribed intermediate zone (Zone B) at canada.ca/cra-line-25500.
When you think about your favourite ways to spend your time, filing an income tax and benefit return probably isn’t at the top of your list. We get it! That’s why we’re working to make tax-filing as easy as possible, so you can get back to things you would rather do.
Don’t forget, if you’re retired or 65 years of age or older, then your sources of income may change, and you have to include these new sources of income on your tax return.
Circle April 30, 2024, on your calendar! This is the deadline for most Canadians to file their income tax and benefit return for 2023. You are considered to have filed on time as long as the CRA receives your return, or it is postmarked, by April 30. By filing your income tax and benefit return on time, you will avoid interruptions to your benefit and credit payments.
If you owe any money to the CRA, your payment is also due by April 30, 2024. By filing and making your payment on time, you will avoid a late-filing penalty and interest charges.
Canadians can save for a home tax-free using the First Home Savings Account (FHSA). Prospective first-time home buyers can contribute or transfer from their RRSP up to $40,000 towards buying or building their first home.
The Canada Revenue Agency is currently updating its webpages and Form T2200 for the 2023 tax year. The updated form, which will be made available at the end of January 2024, along with other T1 related forms, will be easier to complete for employees who are only claiming a deduction for home office expenses.
This year, there have been many announcements about changes that will affect business taxes in 2024. We have pulled them together here for quick reference, along with a list of resources that can help you manage these changes and your tax affairs in the new year.
Scammers continue to pose as the Canada Revenue Agency (CRA) and other government departments and agencies, to trick you into giving them money or personal information. Unfortunately, they’re still having some success. The amount of money that people have lost to scams and fraud has increased over the years.