Karia Bookkeeping and Accounting Services

In my previous posts, I mentioned RRSP deductions and how they save you from paying more taxes and, in some cases, allow you to receive a refund. The list below also has the same effect. Either as a paper copy or as a digital record, you should gather the following documents.

· Carrying charges and interest expenses on investments purchased via a loan
· Union and Professional Dues not on a T4 slip
· Student Loan Interest after graduating from college or university
· Receipts and tax slips for childcare expenses
· Tuition Fees Tax Credit – tuition fees for colleges, universities and certified institutions over $100.00.
· Canada Training Credit for students – A refundable credit ($250/year, max. $5,000 lifetime) for eligible tuition or fees for individuals aged 26 to 66.
· Medical and dental expenses – also includes physiotherapy, massages, medical devices, etc.
· Home accessibility costs - costs such as railings, slopes, stair lifts, etc.
· Moving expenses – moving at least 40 km closer to the place of work or business

By organising these documents in advance, you’ll prepare your tax return efficiently and accurately. Filing tax returns begins February 23, 2026.

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Key Deadlines for the New Year and Tax Season

The arrival of the New Year also marks the beginning of a new tax season. It is important to be aware of several deadlines during this period to ensure compliance and avoid any penalties and interest.
Below are some of the key deadlines that should not be missed:

• RRSP deadline of March 2, 2026
• End-of-financial-year for self-employed individuals and corporations
• April 30, 2026, tax return deadline for individuals.
• June 15th deadline for self-employed individuals
• Six months after the corporation's fiscal year-end is the corporation's year-end.
• Payment due dates for any tax owed are usually three months from December 31st

Staying organised and keeping track of these important dates will help ensure a smooth and successful tax season.

Karia Accounting and Bookkeeping Services | Bookkeeping | 97 McLennan Way, Ottawa, ON, Canada Karia Accounting and Bookkeeping Services provides a complete accounting process. This includes Sales Invoices, Accounts Payable and Receivables, and payroll entries. Reconciliation of Accounts such as Bank, HST, WSIB and payroll accounts. Preparing government remittances like HST, Payroll, income t...

Before your tax season begins, these are important deadlines for small businesses:

Corporate Income Tax (T2)
• Filing Deadline: 6 months after your fiscal year-end. If your fiscal year ends March 31, 2025, your return is due September 30, 2025.
• Payment Deadline: 2 months after the fiscal year ends. For a fiscal year ending on March 31, 2025, the payment is due by May 31, 2025.
GST/HST Returns
• Annual Filers: The payment and return are due 3 months after the fiscal year ends. If your year ends on March 31, 2025, file and pay by June 30, 2025.
Payroll Remittances
• Monthly remittances are due by the 15th of the month following the payment period.
• Quarterly remitters must submit their payments by the 15th of the month following the end of each quarter.
T4, T4A, T5 Slips
• Deadline to file and distribute: February 28, 2026
Penalties for Late Filing
• 5% of balance owing + 1% per month (up to 12 months)
• Repeat late filers: 10% + 2% per month

These deadlines are for small business corporations. It is important to know how much you need to remit. Contact Karia Bookkeeping and Accounting Services at

Karia Accounting and Bookkeeping Services | Bookkeeping | 97 McLennan Way, Ottawa, ON, Canada Karia Accounting and Bookkeeping Services provides a complete accounting process. This includes Sales Invoices, Accounts Payable and Receivables, and payroll entries. Reconciliation of Accounts such as Bank, HST, WSIB and payroll accounts. Preparing government remittances like HST, Payroll, income t...

The primary purpose of bookkeeping is to record the financial effects of transactions. This, in turn, will help you determine how your business is doing at any given moment.