Our Blog

Business360.Pro Blog

Business360.Pro is pleased to provide a variety of resources on accounting, taxation and other related subjects that I hope will be helpful to both individuals and businesses.

If you have any questions, simply contact me by email or call 778-968-2850. I will be happy to meet with you for a free, no-obligation consultation.

The Importance of reporting ALL income from information slips

Many people assume that if they fail to include an information slip with their income tax return, the Canada Revenue Agency ("CRA") will simply adjust the return to report the income and adjust the income tax accordingly. This is half correct! The other half of the equation is a little-known penalty the CRA imposes for repeated failure to report income. This penalty arises when an income slip is not added to your tax return twice in a three-year period.

Sign in to read full story
To continue reading the full contents of this post, you will need to log in first. If you do not have an account, please Click here to Create an Account
×
Stay Informed

When you subscribe to the blog, we will send you an e-mail when there are new updates on the site so you wouldn't miss them.

Why is it important to file the tax returns on tim...
 

Comments

Comments are not available for users without an account. Please login first to view these comments.
Already Registered? Login Here
Guest
Monday, 15 August 2022

Contact Us

Our Office

Business360.Pro
3803 Oxford Street
Burnaby, BC 
V5C 1C2

Phone: 778-968-2850

We're Easy to Find