Your tax filing deadline is 6 months after your corporation’s year-end date. However, please note that if there are corporate taxes owing, the deadline to pay is 2 months after the year-end date. You may qualify for a one-month payment deadline extension if the corporation is eligible. Your accounting team will provide you with specifics.

Corporate tax installments are required in the current fiscal year if the corporation owed more than $3,000 in taxes in the previous taxation year. GST installments are required in the current fiscal year if the corporation owed more than $3,000 in GST in the previous taxation year. Please refer to the schedule that we provide with your finalized year-end records.
Failure to remit installments sufficiently and on schedule may result in instalment interest being assessed by the CRA with your next tax filing.

“In most circumstances retention of physical records for 10 years should be sufficient. This assumes that all returns have been filed on time and there are no extenuating circumstances. Records for long term assets may need to be retained longer.”

You can submit your records digitally by email to your accounting team or to admin@lorennancke.com, secure link upload, mail, courier or fax.
We do not require physical copies of your documents if you are able to provide digital copies. If you have physical records, give us a call ahead of time to book a drop off date and time. Due to the pandemic, we have social distancing in place to ensure enough space between clients dropping off documents.

A year-end checklist was provided to you with the annual engagement package. Please connect with our office if you have misplaced the checklist.

The balance owing is stated on the enclosure letter and on the corporation income tax return sent by our office.

Here are all the ways to pay CRA

ONLINE BANKING – sign in to your bank’s online service and under “Add a payee” look for an option such as: “CRA (revenue) – current-year tax return”, “CRA (revenue) – tax amount owing” or “CRA (revenue) – tax instalment”. Select one and enter your SIN as your CRA account number.

ONLINE – Sign in to your business bank’s online service (You may need to navigate to a tax payment service within your online banking account, this is slightly different for each financial institution) and under “Add a payee” look for an option such as: “Federal – Corporation Tax Payments – TXINS” or “Federal – GST/HST Payment – GST-P”. Select one and enter your Business Number as your CRA account number.

CREDIT CARD OR PAYPAL – pay online through a third party service provider. www.paysimply.ca accepts Visa, MasterCard, Amex, Union Pay and PayPal. www.plastiq.com/cra accepts Visa, MasterCard and Amex. (Service fee will apply.)

DIRECT DEPOSIT – The information on how to sign up for direct deposit is here.

BY CHEQUE – You can write a cheque payable to RECEIVER GENERAL FOR CANADA for the amount owing (remember to write you business number and account on the cheque memo)and send it to:

9755 King George Boulevard
Surrey BC V3T 5E1

Yes, here are your options:

Drop off a cheque at any of our locations. Write your business number and account information on the memo line. The cheque must be received by our office within 3 business days of the payment deadline.

Enrol in our CompletePay service that allows amounts to be debited from your bank account and paid directly to the CRA. You have to qualify to use this service.

Here are your options:

If you have CRA My Business account, you can add the corporation’s direct deposit information to the tax account.

You can sign a Direct Deposit request for business form and we will process your request. We require the signed form and a void cheque before filing your taxes.

If CRA does not have direct deposit information, a refund cheque will be sent to the mailing address on file.

Here are all the options to register “my business account”

The My Business Account provides a convenient access to a variety of services including

• Authorizing a representative
• Downloading your notice of assessment
• Viewing and paying your CRA balance

When the tax return is completed, you will received an email with a link. Check your junk folder as sometimes the email filters there. On the email, click on the link and save the information on you computer.

You can send us your signature pages by:

Email
Upload (uploading the documents through same link)
DocuSign
By mail
Send a picture of your signed page to admin@lorennancke.com
Drop off at our office in an envelope with your full name

Our North Vancouver office has a mail slot; you can drop off the signed documents, put your signature pages inside an envelope and write down your full name.

If you are planning to drop off your signature pages at our New Westminster location, give us a call at 604-904-3807 to book a drop off date and time to limit physical contact with other clients.

Yes, you can. Please give us a call ahead of time to book a date and time to limit physical contact with other clients.

Options:

Give us a call at 604-904-3807 to book a drop off date and time to limit physical contact with other clients.

There is a red X on the page. Please sign where indicated.

Options:

• Pay online through our website
• E-transfer
• By phone
• By cheque

Please send an email to admin@lorennanke.com with the new address and we will update your information.

Send a request to admin@lorennanke.com and we will send you a copy.

Give us a call at 604-904-3807 to book a drop off date and time to limit physical contact with other clients.