Answer: Slips are prepared by your employer, payer, or administrator. You should have received most of your slips and receipts by the end of February. However, T3, and T5013 slips do not have to be sent before the end of March.

Answer: The deadline for contributing to an RRSP is March, 1.

Answer: If you own/hold foreign property with a cost of more than $100,000, we need to file a Foreign Income Verification Form (T1135) on your behalf. This form can be quite complex, but luckily Positive Accounting is here to help.

Answer: Unfortunately, there are some shady individuals requesting your personal information. DO NOT divulge your personal details and DO NOT make any payments without substantiating all the facts.

Please see the CRA article below for more information: https://www.

Answer: Filing your tax return electronically with the CRA. It allows your tax returns to be processed faster with a quicker turnaround from the CRA.

Answer: A revised Notice of Assessment is issued by the CRA after the initial NOA. This may be due to additional or missing information that has come to the attention of the CRA, which was not reported on your initially filed personal tax return.

Answer: A Notice of Assessment is issued by the CRA at the assessment of your filed tax return. It is to verify the information that you have filed against the records of the CRA.

Answer: No, if the total taxes owing for the year are less than $3,000.

Answer: The instalment letters are based on last year’s assessment of your personal taxes. The payments are mandatory and NEED to be made to avoid installment interest.

Answer: All tax liabilities owed to the CRA on your personal taxes, are due by April 30th.