MM Accounting & Tax Consulting CPA

File On Time, you may think that this is a given but it’s incredible how many people submit their tax returns late, incurring additional charges. Your return needs to be filed on or before April 30th, 2019.

The late penalty is 5% of your 2018 balance owing, plus 1% of your balance owing for each full month your return is late (maximum of 12 months)

If you received a pension from your company plan or received periodic withdrawals from your RRSP or RRIF this year, you may elect to transfer up to 50 per cent of your pension benefits to your spouse to take advantage of pension income splitting at any age; if periodic income comes from RRSPs, RRIFs or other annuities, you’ll have to wait to age 65 to income split, we can help you in pension splitting and maximize your refunds!