Instalment payments for clients who owe taxes
With most taxpayers having already filed their 2020 tax returns (self-employed workers and their spouses or partners have until June 15 to file), the next tax event is the second quarterly tax instalment for 2021. In February, the Canada Revenue Agency (CRA) sent out reminders to taxpayers who are required to pay quarterly tax instalments. The first instalment was due March 15 and the second is due June 15. According to the CRA, approximately 1.8 million individuals are required to pay income tax by instalments annually.
Original Article Source Credits: Advisor's Edge , https://www.advisor.ca/
Article Written By: Jamie Golombek
Original Article Posted on: May 11, 2021
Link to Original Article: https://www.advisor.ca/tax/tax-news/instalment-payments-for-clients-who-owe-taxes/
Categories
RECENT POSTS
- » How Smart Payroll Practices Help Your Surrey Business Avoid Headaches
- » How to Spot Hidden Risks in Corporate Accounting for BC Businesses
- » How to Spot Financial Reporting Red Flags in Your Vancouver Business
- » How to Spot Overlooked Bookkeeping Issues in Growing BC Businesses
- » What Every Metro Vancouver Business Owner Should Know About Succession Planning
- » How to Reduce Business Taxes in BC: Practical Strategies for Owners
- » How to Spot Real-World Financial Reporting Gaps in Your Business
- » 5 Mistakes Metro Vancouver Businesses Make With Financial Reporting