Personal Tax Returns
Every year tax return policies keep on changing in Canada. Canadians need to file tax returns for availing tax credits and other benefits.
There are high chances of mistakes due to which wrong returns may get filed. There is a high probability of incorrect returns getting audited. The consequences of this can lead to heavy penalties. It is seen that for corrections and paperwork a lot of time gets consumed. This may increase your tax burden and expenses.
One can also miss out on the opportunity of getting more refunds.
Fortunately, Save Your Taxes Inc. offers affordable Personal Tax Return services. We assist our clients in filing proper tax returns. There are groups of specialists who have expertise in current personal tax rules and regulations. There is a team that works efficiently in filing T1 returns for hundreds of Canadians every year. We dedicatedly work in completing the returns of every individual.
According to income tax rules other than personal tax return following are the sources of income tax slips which are scrutinized:
- Employment Income- T4, T4A, T5018
- Pension and Annuities- T4A, T4A(OAS), T4A(P), T4RIF, T4RSP
- Investment Income slips include T5, T3, T5008, T5013 OR T5013A
- Foreign Assets
- Rental Income
- Registered Retirement Savings Plan (RRSP) Income- T4RSP
- Schedule of Capital Gains and Losses
- Income from Self Employment
- Other Incomes have slips such as- T4E, T4PS, T5007
At Save Your Taxes Inc., it is our responsibility to file your personal tax returns on time. The deadline to file the return for employed Canadian is April 30th, of the next year for which the year the personal tax return to be filed. For self-employed individuals, the deadline for filing a personal income tax return is June 15of the next year for which the year the personal tax return to be filed. In case you have not made your payments on time, interest will start to accrue after the April 30th deadline. This will be according to the predefined rates. Also, if you do not clear the taxes within the stipulated time, the penalty will be levied as an immediate effect.
Save Your Taxes Inc. provides personal income tax preparation services that can help you in preparing tax returns quickly and accurately. Whether you are a student, employed professional or seniors with Canadian or foreign pensions, we are here to handle all your tax return process.
