Frequently Asked Questions

For personal tax work, bring your government ID, last year's tax return and notice of assessment, and your current-year slips and receipts. For business clients, bring your most recent financial statements and tax returns, your bookkeeping records or bank statements, and any CRA or WCB correspondence you have received. If you are missing something, don't wait - we can retrieve much of your history directly from the CRA with your authorization.

Fees are based on the scope and complexity of the work: a straightforward personal return costs less than a corporate year-end with cleanup bookkeeping. We discuss and agree on fees before work begins, so there are no surprises. Contact us for a quote for your situation.

Software is fine for very simple returns. A professional earns their fee when your situation has moving parts: self-employment, a corporation, rental property, family credits, GST, payroll, or a letter from the CRA. Beyond accuracy, a CPA advises you on decisions before you make them, which is where most tax savings actually come from.

Personal returns are due April 30 (June 15 for self-employed individuals, though any balance owing is still due April 30). Corporate returns are due six months after year-end, with tax generally payable two to three months after year-end. T4 slips are due by the last day of February, WCB-Alberta annual returns by February 28, and GST returns follow the schedule assigned to your account. RRSP contributions for a tax year can be made up to 60 days into the following year.

The CRA charges a late-filing penalty of 5% of the balance owing plus 1% for each full month the return is late (to a maximum of 12 months), with higher rates for repeat late filers, plus daily compound interest on unpaid amounts. Filing on time even when you cannot pay in full avoids the penalty entirely, so never hold a return back because of a balance owing.

Don't ignore it, and don't panic - many CRA letters are routine reviews asking for support for a claim. Note the response deadline, gather the requested documents, and contact us. With your authorization we can deal with the CRA directly on your behalf and make sure the response is complete and accurate.

Registration is mandatory once your taxable sales exceed $30,000 over four consecutive calendar quarters. Below that threshold you are a "small supplier" and registration is optional - though registering voluntarily lets you recover GST paid on your expenses, which can be worthwhile even for small businesses.

The CRA generally requires you to keep tax records and supporting documents for six years from the end of the tax year they relate to. This applies to both personal and business records. Digital copies are acceptable if they are clear and complete.

Yes - catch-up and cleanup work is one of the most common projects we take on. We bring the records current, reconcile the accounts, file any outstanding GST returns, and then set up a monthly routine so it stays manageable.

Most Alberta employers must register with WCB-Alberta once they have workers, and contractors in many industries need coverage or a clearance letter to work for their clients. Requirements vary by industry and situation, so it is worth a quick review. We can advise you and handle the registration if it is required.