Tax Partners

Tax Partners is OPEN during COVID-19. Canada Revenue Agency (CRA) is working and processing tax returns. Our office hours are: - Mondays to Fridays: 9am to 5pm - Saturdays: Closed... - Sundays: Closed Contact us and let us help YOU! Tax Partners 905-836-8755 [email protected] 17817 Leslie Street, Unit 2 Newmarket, ON L3Y 8C6

FEDERAL TAX PAYMENT DEADLINES - For individuals, the payment of any tax balance owing for 2019 that would have been due on April 30 has been extended until September 1st. - For trusts, the payment of income tax balances and installments that would have become due after March 18 and before September 1, 2020 has been extended to September 1, 2020. - The June 15 individual installment payment for 2020 will now not be due until September 1st.... - For corporations, payments of Part I tax that become due on or after March 18 (whether it is a balance due or an installment payment), will not be due until September 1st. Note that by specifically referencing Part 1 tax, the Canada Revenue Agency (CRA) is not extending Part IV tax. Part IV tax is a refundable tax on certain inter-corporate dividends received by Canadian private corporations and is due on filing a corporate tax return. The payment of Part IV tax has not been extended. - When a taxpayer makes a payment of certain taxable amounts to a non-resident of Canada, such as dividends, or rent, a withholding tax is required. The taxpayer is also required to remit this tax so that the CRA receives the payment on or before the 15th day of the month following the month the amount was paid or credited to the non-resident person. There has been no extension of time to pay this withholding tax. - GST/HST remittances have been extended to June 30, 2020, to the extent that they would be due after March 18, and before June 30, 2020. In general, this means that the following remittances are extended until June 30, 2020: Monthly filers remittance amounts collected for the February, March and April 2020 reporting periods; Quarterly filers remittance amounts collected for the January 1, 2020 through March 31, 2020 reporting period; and Annual filers, whose GST/HST return or installments are due in March, April or May 2020. - The payment of customs and duties have also been extended. Payments owing for customs and duties and the GST on imports that would otherwise be due in respect of the months of March, April and May are deferred to June 30, 2020. Contact us to help you. Regards, Tax Partners www.taxpartners.ca 905-836-8755 [email protected]

FEDERAL TAX FILING UPDATES AND DEADLINES: - The tax filing deadline for individuals will now be June 1, extended from April 30. - The filing deadline for trusts will be May 1, extended from March 30. - The tax filing deadline for corporations has been extended to June 1, 2020 in some cases. We understand that if the tax return would ordinarily be due between March 18 and June 1, it is now due June 1. Otherwise, the normal six-month filing deadline applies. - The p...artnership filing deadline for partnerships with a December 31, 2019 year-end will now be May 1, extended from March 31. - The filing deadline for the Registered Charity Information Return, Form T3010, has been extended to December 31, 2020 if the return is due after March 18, 2020. - Form NR4 Statement of Amounts Paid or Credited to Non-Residents of Canada has been extended to May 1, 2020 from March 31, 2020. - The CRA has stated that in general, income tax filings and elections that are not included in the above list of extensions and are due after March 18, 2020 will be due June 1, 2020. Contact us at [email protected] or by phone at 905-836-8755. Our exceptional team is available to assist you and meet your tax filing obligations. Tax Partners www.taxpartners.ca

In this time of gratitude we would like to take a moment to thank you for being our valued client. On behalf of all of us at TAX PARTNERS Team we wish you a very Happy Thanksgiving - MM

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Retweeted CanadaRevenueAgency (@CanRevAgency): Commercial ride-sharing drivers have new obligations to register and collect GST/HST starting July 1: https://t.co/3NBVh44Qoh

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Tax Deadline is coming!! Let us help you file your 2016 taxes at Tax Partners!! Call us at 905-836-8755

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Retweeted CanadaRevenueAgency (@CanRevAgency): The CRA is cracking down on tax cheats by reviewing electronic funds transfers of over $10,000.