Did you know that filing an annual return is a mandatory requirement for all corporations registered in Ontario and federally? Even if no changes have occurred, you still need to file to stay compliant and maintain your corporation's good standing. Other provinces have similar requirements, so make sure you're up-to-date!

To make sure you get every tax credit and deduction that you are entitled to, we put together a handy checklist to help you prepare all documents and information you need to prepare your tax return.

As of January 31, 2024, online platforms such as Uber, Skip the Dishes, and DoorDash will be required to report information about their workers' income to the Canada Revenue Agency (CRA). This requirement is part of Bill C-47, an amendment to the Income Tax Act, which mandates that platforms share this information with the CRA annually by the end of January.

As 2024 comes to a close, now is the perfect time to take a closer look at your finances and consider ways to minimize your taxes. Before the 2024 ends, it is important to consider available tax savings opportunities and options to ensure you are paying the least amount of tax and maximizing your tax refund.