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Elevate Your Business with Professional Financial Management

Corporate Tax Accountant

Our comprehensive suite of services is designed to streamline your financial operations, ensuring accuracy, compliance, and strategic growth. Let us be your partner in success.

Corporate tax return

Contact Us to Assist As Your Business Tax Accountant

Canadian business taxes require expertise and precision. At Malhi Accounting, we offer tailored tax solutions to meet the unique needs of your business. From compliance and planning to strategic tax advice, our dedicated team ensures your financial operations are optimized for success. Let us handle the intricacies of business taxation, freeing you to focus on what you do best: growing your business. Reach out today to secure a partner committed to your financial prosperity.

Small business accountant

Set Yourself Up For Success With A Corporate Tax Accountant

For Personal, Business, and Audit Solutions, Contact Malhi Accounting Today

Business Accounting You Can Count On

In the ever-evolving business landscape, reliable accounting is the cornerstone of success. Malhi Accounting delivers trustworthy and comprehensive accounting solutions tailored to your business needs. From meticulous bookkeeping to strategic financial planning, our dedicated team provides the support you need to navigate financial complexities with confidence. Partner with us for unparalleled accuracy, timely insights, and proactive strategies that empower your business to thrive. Trust Malhi Accounting to be the foundation of your financial success.

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Corporate Tax
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Frequently Asked Questions

  • Who needs to file a tax return in Canada?
    Generally, residents of Canada who earned income or have taxes owing must file a tax return. This includes individuals with employment income, self-employed individuals, and those who have received other types of income such as rental income or investment income.
  • What is the deadline for filing taxes in Canada?
    The deadline for filing your personal income tax return is typically April 30th. If April 30th falls on a weekend or a holiday, the deadline is usually extended to the next business day.
  • How can I file my taxes?
    You can file your taxes online using certified tax software, by mail using paper forms, or through a tax professional. The CRA also offers online services for filing taxes.
  • What documents do I need to prepare my tax return?
    Common documents include T4 slips (employment income), T5 slips (investment income), receipts for deductible expenses, and any other relevant financial documents. Self-employed individuals may need additional documents, such as business expense receipts.
  • What are some tax credits and deductions available to individuals in Canada?
    Common tax credits and deductions include the Basic Personal Amount, Child Tax Credit, Medical Expenses, Charitable Donations, and Education Credits. The specific credits and deductions you qualify for depend on your individual circumstances.
  • What is the Goods and Services Tax (GST) credit?
    The GST credit is a tax-free quarterly payment to help individuals and families with low or modest incomes offset the GST they pay. Eligibility is based on your income and family situation.
  • Do I need to report foreign income?
    Yes, you are required to report any foreign income, including income from employment, investments, and property. There are also reporting requirements for foreign assets exceeding certain thresholds.
  • Can I split income with my spouse or common-law partner?
    There are income-splitting opportunities for some tax credits and deductions, but the rules can be complex. It's advisable to consult with a tax professional to determine the best strategy for your situation.
  • What are the penalties for late filing or non-compliance?
    There are penalties for filing your taxes late and for not reporting income. Interest may also be charged on any amounts owing. It's important to file on time to avoid these penalties.
  • Where can I get more information or assistance?
    The Canada Revenue Agency (CRA) website (https://www.canada.ca/en/revenue-agency.html) is a valuable resource for information on personal taxes. You can also contact the CRA directly or seek assistance from a tax professional.
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