Filing Fun Facts

November 23, 2015

Did you know?

Certain tax slips (e.g. T4, T4A, T5 etc.) must now be submitted to the CRA electronically if more than 50 are to be sent. Penalties range from $250 to $2,500.
If you have your T1 (personal) or T2 (corporate) tax return prepared by a professional tax preparer who prepares more than 10 returns per year, it must be electronically filed. Unless you meet one of the exceptions, you do not have the option to paper file.
Electronic filing does not increase your chance of audit.