Montreal Financial can help you make sense of the variety of tax obligations that are applicable to your business and either provide you with the tools and knowledge to ensure that you are keeping on top of them, using your own business resources, or we can take care them of for you. The most important tax obligations that small business owners should be aware of are:
Payroll tax obligations which include remittance of period deductions at source (DAS) to both Revenue Canada and Revenue Quebec. At the end of the calendar you are required to prepare T4s and RL-1s for your employees and submit these slips and accompanying summaries to the revenue agencies. Finally, if you operate in Quebec you must remit CSST amounts periodically and submit year end declarations.
GST-HST-QST forms and remittances require calculation of amounts and periodic submission to Revenue Quebec only if you are operating in Quebec (otherwise forms are sent to Revenue Canada)
Income and corporate tax returns need to be prepared by unincorporated and incorporated businesses respectively on an annual basis.
Dividend declarations, which include T5 and RL-3 slips and summaries, for incorporated business owners who pay themselves dividends, must be prepared and filed annually.
We can help guide you through the process. Do not hesitate to contact us should require help with any or all of the above.