For individuals, tax returns must be filed by April 30 each year. If you are self-employed, you have until June 15 to file, though any balance owed is still due by April 30.

Even straightforward returns can benefit from a CPA's insight, as professionals often identify credits or deductions that might otherwise be missed.

Absolutely. CPAs are experienced in handling employment, investment, rental, and self-employment income within a single, well-prepared tax return.

Filing late can result in penalties and interest charges on any balance owing. The CRA charges a late-filing penalty of 5% plus 1% for each full month late, up to 12 months. Repeated late filers face higher penalties.

Key documents include T4 slips (employment income), T5 slips (investment income), RRSP contribution receipts, receipts for deductible expenses, and any other income-related slips.

Yes, the CRA’s NETFILE service allows for electronic submission of tax returns using certified tax software. NETFILE generally opens in late February each year.

Common credits include the basic personal amount, Canada Workers Benefit, and child care expenses. Deductions include RRSP contributions, union dues, and professional fees.

Taxes can be paid online through the CRA’s My Payment service, through your financial institution, or by mailing a cheque. Payment is due by April 30 to avoid interest and penalties.

It is still important to file your tax return on time to avoid penalties. Contact the CRA to discuss payment arrangements to minimize interest charges.

It is recommended to keep tax records for at least six years after the end of the taxation year to support any future CRA audits or reviews.