Questions we hear most

Plain answers to the questions we hear most, with links to canada.ca so you can check the source. Dates are for the 2026 tax year. Your situation may differ, so we confirm the details with you on the call.

When is my 2026 personal tax return due?

For most people, April 30, 2027. Any balance owing is also due April 30, 2027. If you or your spouse or common-law partner were self-employed in 2026, the return is due June 15, 2027, but the payment is still due April 30. Source: canada.ca

If I am self-employed, why does the payment date come before the filing date?

CRA gives self-employed people until June 15 to file because business returns take longer to prepare. Payment is still due April 30 like everyone else, and interest on any unpaid balance starts after that date, even though the return itself is not late. Source: canada.ca

When does my corporation have to file and pay?

A T2 return is due six months after your year-end, so June 30, 2027 for a December 31, 2026 year-end. Payment is due earlier: generally three months after year-end for a Canadian-controlled private corporation that claimed the small business deduction and stayed under its business limit, and two months for others. Source: canada.ca

Do I have to pay tax instalments?

You may have to pay instalments if your net tax owing is more than $3,000 for 2026 and was also more than $3,000 in either 2025 or 2024. Quarterly instalments are due March 15, June 15, September 15 and December 15. Farmers and fishers whose main income is farming or fishing have one date, December 31. Source: canada.ca

When do I have to register for GST?

Generally once your taxable revenue goes over $30,000 in a single calendar quarter, or over four consecutive calendar quarters. Below that you are a small supplier and registration is optional. In BC, GST and PST are separate taxes, not a combined HST. Source: canada.ca

When are GST returns due?

It depends on your reporting period. Monthly and quarterly filers generally file and pay one month after the end of each period. Annual filers generally have three months after their year-end, but self-employed individuals with a December 31 year-end who file annually have until June 15 to file, with payment due April 30. Source: canada.ca

What does bookkeeping include?

With us, it usually means recording income and expenses, reconciling bank and credit card accounts each month, organizing receipts, GST and PST returns, payroll records and slips, and a year-end file ready for your tax return. We shape it around what your business actually needs.

I have a year or two that was never done. Can that be caught up?

Yes. It is more common than people think. We work through one year at a time, oldest first, using bank statements and whatever records you have, so each return can be filed or corrected on solid numbers.

How long do I need to keep my records?

Generally six years from the end of the last tax year they relate to. If you file a return late, keep the records for six years from the date you filed it. Some records, like those for long-term property, need to be kept longer. Source: canada.ca

When are T4 and T5018 slips due?

For the 2026 calendar year, T4, T4A and T5 slips are due by March 1, 2027, because the last day of February is a Sunday. T5018 slips for construction subcontractors are due six months after the end of your reporting period, so June 30, 2027 if you report on a calendar year. Source: canada.ca

Can I deduct expenses for my short-term rental?

Starting with the 2024 tax year, expenses are not deductible for days a short-term rental did not comply with the provincial and municipal rules that apply to it, such as licensing or registration. In Penticton, that includes a city business licence. Since May 1, 2025, BC also requires every host to register. Source: canada.ca

What should I bring to a first call?

Nothing is required for the first 20 minutes. If you want to, have last year's tax return or notice of assessment handy, a rough idea of your business income, which software or system you use now, and any CRA letters you have received.

Do I need to come into the office?

No. Most work happens by phone, video and shared documents. We are at 129 Nanaimo Ave W in Penticton if you would rather meet in person.

Which towns do you serve?

Penticton, Oliver, Osoyoos and Summerland, plus the communities around them in the South Okanagan.