Table of contents Is this guide for you? What’s new? Chapter 1 – General information What are your responsibilities? Penalties, interest, and other consequences Late filing and failing to file the T4 information return Mandatory electronic filing Failure to deduct Penalty for failure to deduct Failure to remit amounts deducted Penalty for failure to remit and remitting late Interest …
The GIFI codes identify items that are usually found on a corporation’s financial statement (balance sheets, income statements, and statements of retained earnings). Each item is assigned its own unique code. This allows us to collect financial statement information in a standardized format. For example, the item “Cash” is assigned code 1001 and “Office expenses” is assigned code …
In-person support to help you save time and money The Canada Revenue Agency (CRA) offers free one-on-one visits or group seminars for small businesses and self-employed individuals across Canada through its Liaison Officer service. During a visit or seminar, the liaison officer will: help you better understand your tax obligations and possible tax deductions show …