What is the deadline for filing tax? OR What are the repercussions if I don't file tax in time?|
You should file your income tax by April 30th for the previous year. For example, tax returns for 2006 are due by April 30th of 2007. If either you or your spouse is self employed, then your due date will be June 15th of the next year. If you are late and have any balance owing on your tax return, you may be subject to penalty of 5% and interest as per CRA's annual interest rates for any outstanding balance. If you have a refund in your tax return then there will be no interest charged.
Is outsource accounting and bookkeeping good for us?
The answer is "YES" because you need a balance of skills not available from a single accounting resource. Outsourcing is the most cost-effective way of getting what you need and helping you to grow by addressing your sophisticated information requirements.
How will the Government of Canada help me save?
The Government of Canada has special grant programs to help you save. Because it believes in the value of education as an investment in the future, the Government of Canada will increase the amount you put aside for a child's education with: a Canada Education Savings Grant (CESG) that is 20% - 30% - or 40% added to the money you put into an RESP - depending on your family net income; and a Canada Learning Bond (CLB), an additional grant worth up to $2,000 to help modest-income families start saving for the education after high school of children born after December 31, 2003.
What type of coverage do we have?
What is a conventional mortgage?
A conventional mortgage is usually one where the down payment is equal to 20% or more of the purchase price, a loan to value of or less than 80%, and does not normally require Mortgage Loan Insurance.