Personal Tax Filing - Deadline April 30th

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Personal Tax Filing - Deadline April 30th 〰️

Personal Tax Return filing

The Personal Tax filing process is pretty simple at Capex:

  1. You Authorize us as your CRA Representatives with Level 2 Access

  2. You complete the Personal Tax Checklist (Tax savings happen here).

  3. You upload your documents into our Karbon secure portal this will be sent within 24 hours.

  4. We carry forward your Personal Tax file or make a New one.

  5. We auto-download what the CRA has on you, Review your Personal Tax checklist and all your documents submitted and take all tax deductions available in your case.

  6. We review the work completed and PDF the personal income tax return and send to you for eSignature sign off.

  7. You will eSign the personal income tax return after your own review.

  8. We receive the signed T183 and confirm signatures.

  9. We eFile the return to the CRA and send you the confirmation.

  10. We will see you next year =)

*Deadline to submit documents to us is April 15th in order to meet April 30th filing deadline.
*Remember to submit payment to Capex or your filing will not be submitted to CRA.

 

sole proprietorship Tax Return filing

 
 

FAQ’s - Personal Tax Edition

  • We need you to complete the “Personal Tax Checklist” you can click on that button and a window will pop up and you can start inputting your details in. It should take about 5-10 minutes to complete the questionnaire.

    Please book a session based on your income. If you had $100k or less of income then please book that session.

    Miss-booked sessions will result in a administrative fee of $50.00

  • This is based on your total income. Choose the session that is closest to your salary. Please read the session details.

  • If you have excessive slips that need to be done then we would charge a extra charge of $5 per slip. Please note the higher paid packages have more slips included so you don’t run into this issue.

  • You can get your personal notice of assessment from CRA via mail or CRA my account. If you require us to get you the NOA and you are one of our clients we can send you a PDF Copy. Just send us an Email.

  • RRSP stands for Registered Retirement Savings Plan. This can be bought before Feb 28th of each calendar year and can directly help to reduce your taxable income.

    RRSP’s can be used later for first time home buyers for mortgages.

  • Buy RRSP’s which directly reduce your total taxable income generating a refund.

  • You can adjust your T1 tax return by booking the “Personal Tax return T1 Adjustment required” session. We’ll attend the session and make the necessary adjustments so your tax return is prepared as per your expectations.

  • This could be because your payroll from your employer is being run properly. Generally, you only get refunds if you overpaid into taxes or you bought a RRSP.

    All other ways of generating a Tax refund are fraudulent and we don’t do that work here.

  • Just book a time slot with us and we can understand your needs further and get you setup with the right plan of action.

  • There are many expenses you can claim under your small business. Here are a few that you can keep a log of.

    General write offs:
    Advertising, Meals and Entertainment, Bad Debts, Insurance, Interest, Bank Charges, Business Taxes, Licenses, Memberships, Office expenses, Stationary, Supplies, Professional fees, management, Administrative fees, Rent, Repairs and Maintenance, Salaries, wages, property taxes, travel expenses, utilities, delivery.

    Vehicle Write offs:
    Leasing, Fuel, Oil, Interest, insurance, license, registration, maintenance and repairs, electricity for zero emission vehicles)

    Home office Write offs:
    Heat, Electricity, Insurance, Maintenance, Mortgage interest, property taxes.

  • No.

  • Excited to do your own taxes?

    You probably need a T2125 form.

    If and when you do get stuck call us we’ll gladly help

  • The first time home buyer credit is a non-refundable $5000 tax credit with a realized value of $750. This is basically taking $5000 *15% = $750.

    If you tick off that you bought a house we can claim this for you on your tax return.

  • If you applied for CERB money and you know you weren’t supposed to get it then you can expect the CRA to claim it back as part of your tax return filing.

  • If you are a business client for us please just complete the “Personal Tax Checklist” we have you on our radar!