Tired of Tax Time Stress? Get Your Refund Faster & Discover AI Tools!

MONTHLY REMINDER

The first personal tax instalment of 2024 was due on March 15th.?Corporate tax payments are due by March 31st if you have a December 31st year-end and qualify for the additional month.

Tick-Tock! 2023 Corporate Tax Deadline in Canada is Almost Here

The clock's ticking!?Here's a quick rundown of key dates for Canadian corporations to avoid tax penalties:

Corporate Tax Payment Deadline:?Tax payments are due by March 31st for a December 31st year-end.?(60 day payment window for non CCPC's)

Corporate Tax Filing Deadline:?File your return within?six months?of your fiscal year-end.

Late Filing Penalty:?5% of your balance owing + 1% per month (up to 12 months). So, a 6-month delay on a $10,000 tax bill could cost $800!

Interest on Late Payments: 10% interest compounding daily on any outstanding balance or late instalment payments

Stay organized to avoid the penalties and headaches.

_____________________________________________________________________

Dont Miss Out: Recover Up to 60% of Your R&D Costs

Many innovative companies in Toronto forget about the valuable SR&ED program. This government incentive lets you recover a significant portion of your research and development expenses.

SRJ Chartered Accountants can help you navigate the process and maximize your claim.

Don't leave money on the table! Schedule a free assessment today and see if your R&D qualifies.

I want to discuss!

____________________________________________________________________

Budget Buzz: 5 Tax Changes You Need to Know About

The federal budget on April 16th could impact your taxes. Here's a quick rundown of 5 potential changes:

• Giving to charity??New rules might tax high-income donors more on gifts of securities.
• Selling a business or farmland??The tax-free limit on capital gains could be increased.
• Saving for retirement??Contribution limits for RRSPs might rise, while minimum withdrawals from RRIFs could decrease, giving seniors more flexibility.
• Top earners beware!?Your tax rate might jump by 2%.
• Capital gains changes unlikely, but possible.?The government might adjust the portion of capital gains counted as taxable income.

_____________________________________________________________________

AI Can Do THAT for My Business?

Tired of the same old business tools?

This series spills the tea on?cutting-edge AI that can supercharge your business without breaking the bank!

AI Tool of the Month: Miro

Today, more than?60 million users across 200,000 organizations—including?Nike, IKEA, Deloitte, WPP,?and?Cisco—depend on Miro.

Miro Assist feature lets you quickly explore new topics and align teams with AI-powered?mind mapping?and?diagramming. Better learnings, better decisions, right away. Here's why you should Miro:

• It facilitates?real-time collaboration,?allowing team members to work together seamlessly across different locations and time zones, enhancing productivity and teamwork.
• It supports a wide range of integrations and tools for?brainstorming, planning,?and?executing projects,?making it versatile for various business needs and workflows.
• The platform improves the?clarity?and?visualization?of ideas and projects through interactive boards and diagrams, aiding in?better decision-making?and?strategic planning.

Let's Explore!

_____________________________________________________________________

ASK SRJ - Got tax and accounting questions? We've got the answers!

Comment here or send us an email at [email protected].

Follow SRJ Chartered Professional Accountants (Canada) for more tax updates and insights. ??

Book a free consultation today!