|
|
| *The Commerce Journal>>>Canada Taxes |
Question about Canada Tax laws and penalties? |
I have 3 T4's from 3 separate companies that I worked for during 2007. What would the hypothetical penalties be if I neglect to include one of the T4's in my tax return? Would I simply be contacted regarding an inaccuracy? Any info would be appreciated. If it's minor you will be charged he tax, plus penalties, plus interest. If it large enough that they feel you were hiding it (for example, how could you 'forget' half your income?) then they can charge you with evasion, which includes even more fines, a trip to court, legal fees, and possible jail time. they would probably catch it later and then send you a bill for it If the CRA caught u when they reconcile the T4 slips received from your employer under your social insurance number to your T4 per your return, they will include the additional t4 into your income, plus interest charges. Or, if the amount is significant and considered gross negligence, the CRA may charge u penalties plus interest on top of the taxes. |
| Tags |
| Spain Taxes Singapore Taxes Mexico Taxes Ireland Taxes India Taxes Germany Taxes Canada Taxes Australia Taxes Small Business Renting & Real Estate |
| Related information |
I doubt the govt would forgive the debt if your husband's name is still on the house title, and the govt intends to get the gst back when he has the money from selling the house. If u wish,... No, you cannot. This is the same (no deduction) as paying support payment (living expenses) to an unemployed adult child living in another province. ...Yes, you may, if the foreign hospital meets the condition and if your medical expenses exceed 3% of your income. If there is doubt as to whether an institution is a licensed private hospital, ... If u are self employed, you may deduct some of these clothing expenses that relate to your job and these clothings cannot be used for your personal daily clothing. If u r an employee, you may ... by mail takes about 3-5 weeks ...Yes, u have until the end of this month to file your tax return. If u owe taxes, there will be interest charges. Here is link on completing and sending your tax return:... Yes, you have to file just like a citizen of Canada does. If you do not want to do the paperwork yourself you may go to a company like H & R Block. They are very fast at filing a return and dep... The agency didnt withhold taxes because your daughter was not an employee of the agency which considers your daughter as a contractor or self employed. As she earned the income and incurred the ... |
Commerce Categories--Copyright/IP Policy--Contact Webmaster |