Personal income tax deadline is April 30. If you have a sole proprietorship or partnership company the deadline to file is June 30 but if there is a balance, its due by April 30. So minimize interest from CRA, make an advance payment by April 30 and once the tax is finalized pay the balance on June 30. This way the interest will only be on the amount paid in June.
Tax Deadline
Updated: Feb 18, 2022
As an employee, you may be able to claim certain home office expenses (work-space-in-the-home expenses, office supplies, and certain phone expenses).
This deduction is claimed on your personal income tax return. Deductions reduce the amount of income you pay tax on, so they reduce your overall income tax liability.
Keep all your utility receipts, Rent contract shows the monthly rent paid, Interest amount paid on mortgage, Property tax, House insurance, Water & Sewer bills, small repair and maintenance.
Do not depreciate your home as once you want to sell it CRA with tack on capital gain.
I was on time with our tax return this year. I purchased the QuickTax software for individuals and completed both our taxes. we got a bit of a refund after investing in RSP.
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