Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44The adage of ‘death and taxes being certain’ comes out true as the Canadian government wants a tax return filed even if a person ceases to exist during a tax year. In such a case, the person responsible for acting on the dead person’s behalf for his/her estate has to file the concerned person’s income tax for past years by April 30th of the following year. This is applicable unless the concerned person dies in November or December; in such a case, the tax returns are due within a period of six months from the date of death. If you are late in filing your income taxes past years but if you do not owe any taxes, then there will be no question of any penalties paid to the CRA. There will, however, be a financial hit that you will have to take. The Canadian government will hold on to any refunds that are due to you until you file your income taxes from past years and there will also be a delay in getting your benefit pay-outs that you may be eligible for. TAX TIP Pay down your mortgage or contribute to your RRSP? Deciding which to do depends on your present circumstances. Look at all the factors, such as your age, income, investments, mortgage rate, and even your pension plan. All of these matter. Let’s look at your situation together. Investors Group, Rory Scully, CFP 905-434-8400 Please note that the office for Nellie Westerman Accounting Services has been consolidated to our 119 Perry Street location. We are looking forward to serving all clients from downtown Port Perry. Chartered Professional Accountant Please note that the office Please note that the office for Nellie Westerman for Nellie Westerman Accounting Services has Accounting Services has been consolidated to our 119 Perry Street location. We are looking forward to serving all clients from downtown Port Perry. Professional Accountant Garett Hazelwood, CPA, CGA 119 Perry Street, Unit 3, Port Perry 905.985.7171 • garett@hazelwoodtax.com Services: Personal, Business, Estate & Corporate Tax, Accounting Services including Payroll Tax planning made simple. Garett Hazelwood Garett Hazelwood 1st Financial Centre 269 Queen Street, Port Perry ON L9L 1B9 Tel: 905-985-1926 • Fax: 905-985-4320 www1fc.ca AVZ Accounting & Tax Inc D’Souza, Van Zeeland & Associates Complete Accounting and Bookkeeping Services All CRA Reports, HST, Payroll, WSIB Taxes - Corporate, Small Business, Farming, Personal Tax returns starting at only $30.00 Tax Management and Consulting Financial Reviews, Personal and Business Tax Strategy, Budgets, Business Plans CRA Audits, Appeals and Tax Court Located at the 1st Financial Centre, their expertise and guidance is ready and waiting to assist you and all your needs. For more info please contact Anita or Tania at: Winner of Accounting/ Bookkeeping - 10 years in a row Tax Preparation - 3 years in a row 2015 Readers’ Choice Awards PORTPERRYSTAR 2016 Readers’ Choice Awards PORTPERRYSTAR Anita Van Zeeland FTA Tania D’Sousa CMA/CPA Insurance products and services distributed through I.G. Insurance Services Inc. Insurance license sponsored by The Great-West Life Assurance Company. Trademarks, including Investors Group, are owned by IGM Financial Inc. and licensed to its subsidiary corporations. RORY SCULLY CFP Financial Consultant Investors Group Financial Services Inc. Tel: (905) 434-8400 Fax: (905) 721-0483 1-888-801-9406 Rory.Scully@investorsgroup.com 111-1614 DUNDAS ST. E, WHITBY, ON L1N 8Y8 FOCUS - FEBRUARY 2017 33