When you are a Canadian citizen, and looking forward to hiring an accountant in Surrey, BC, one of the foremost things that keep you on your toes is the due dates for tax submission. The tax accountant in Surrey is aware of the next deadline and assures you that you have submitted all your dues at the right time. However, as a business owner, it is essential to know about your due dates which helps you to prepare all the due documentation at the right time.
Here is a brief review of some of the important dates you need to keep a check of, both as a personal taxpayer and as a corporate business owner.
Personal Tax Deadline
If you haven't hired a surrey accountant yet and have a taxable income, you need to be aware of some of the first quarter of the year's dates.
1. For Self-Employed Person
The date to be kept in mind is June 15, 2021. One of the essential aspects of making a note is the filing dates and the tax returns dates. You have time for tax filing till June. But the tax owing is due till April.
If this seems to be confusing for many of the self-employed people, you should look forward to hiring the accountant's services in Surrey, BC.
2. For Not-Self-Employed Person
This is the most common date that most Canadian Citizens are strictly following and are aware of. So, if you fall under the category of a not self-employed person, then the date to ponder is April 30, 2021.
If you fall under the category of those who have to pay the tax return in terms of installments, the following are the deadlines that need to be marked on your next year's calendar.
- March 15, 2021
- June 15, 2021
- September 15, 2021
- December 15, 2021
For all those corporate businesses who have hired the services of Surrey accountant, they might know the regulations of the deadlines that you need to follow in terms of tax filings:
The Corporate Deadline For Tax Filings:
- The corporate filings are due after every six months you have marked as a year-end for the business. For Example: if you are planning to end the year on March 15, 2020. Your due date will be on September 15, 2020.
- Even if you do not end the year on the last day of the month, then the due date for the business's tax filing will be six months after you have completed the year on the books of accounts.
The Deadlines For The Corporate Tax Owings:
As a corporate business owner, it is crucial to keep track of the dates that are different in terms of tax filings and tax returns.
- you need to make sure that the deadlines are two months earlier than the actual date for filing the tax return. If you think that you won't be able to follow the deadlines before the due dates arrive, make sure to hire the accountant in Surrey BC, to ensure timely payments of taxes.
- However, it is essential to note that there are certain exceptions regarding the due dates for tax fillings. The tax returns that you need to be aware of the exceptional scenarios that allow you that time of three months after every business year-end.
Suppose you think that you fall under such a category. In that case, you should consider hiring a tax accountant in Surrey to make sure that you are facilitated by every means and enjoy the facilities that are commonly given to the corporate taxpayers.
GST/ HST Deadlines:
For all those businesses who have GST filers after every month. The due date for returns and the amount for owing are right after completing one month.
If you are among those business owners who file quarterly, then you the due date for the returns and the owing of amounts are after every one month of the reporting period.
3.Annual Filers: (GST Filers By Business With 31 December Year-End)
When your business is filling the returns and tax owing annually, and the returns are due within 3 months period after the reporting period end date.
4.Annual Filers: (Individuals With December 31 Year End)
For all those individuals who file the GST annually and have their year-end date on December 31, then they have slight changes to tax filings and Tax returns submission.
GST owing is due on April 30, 2021
Filing for GST returns is due on Jun 15 2021.
It is essential to note the deadlines to make sure that you can operate your businesses without any hassle and make sure that you are abiding by all the rules and regulations of the state. For all those businesses who aren’t equipped with professional accountant service must try an ensure to hire accountant in Surrey Bc, to ensure healthy and effective business handlings. Moreover, the tax accountant in Surrey also guides you towards the upcoming deadlines and ensures that all the filing and return owing are ready before hand.
To conclude, Surrey accountants are key to better and effective services for all those people who are either self-employed or operating a business.