Hello!
Welcome to August 31st 2025! In this Newsletter:

• What’s due at the end of August?
• My Three Favorite Resources for September!
• What due dates are coming up in September?

What’s Due End of August?Note that Aug 31st falls on a Sunday this year, and Labour Day is Monday Sept 1st. When this happens, the CRA Deadline falls to the ​next business day​, in this case, September 2nd for all Aug 31st noted deadlines below.

• If you are incorporated, and you owed greater than $3k in corporate Income Tax for your previous fiscal year, then you are required to pay installments for next year on the last day of every month. August 31st is the due date for the ​August Corporate Tax Instalment​.
• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, July's GST/HST filing and remittance is due on August 31st. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter May to July would be due Aug 31st. Also, if your Corporate Fiscal Year End is February, your Corporate Tax Return is due 6 months after your Fiscal Year end (August 31st). If your Corporate Year End is June, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of August or end of September, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation.

My Three Favorite Resources for September!

1. Pay Strategies for Canadian Business Owners: When to incorporate? After incorporation, what should the shareholder's compensation plan be? Avalon Accounting put together a great article on real life scenarios of Canadian Business owners! Check it out ​here​!
2. CRA Penalty Calculator: How much would you owe for 2023's tax year if you filed and paid May 5th 2025, had self employment income, and had tax payable of $5k? I plugged in those numbers to this ​Canadian Personal Tax Penalty Calculator​ from Copilot Tax, and the total penalties and interest came to $1,278! On only $5k payable!!! Did you expect closing one's eyes to getting one's taxes done to cost so much!? Try playing around with some bigger numbers! Use this information to burn that fire under you, or to warm your marshmallows on as a reward for staying on top of your business bookkeeping. It may feel unrewarding to stay on top of your taxes, but I've seen the other side, and you deserve a pat on the back! Many pay the literal price for not making it a priority! #DontGiveCRAMoreMoneyThanYouHaveTo
3. Labour Day Legislation Explained: Labour Day in Canada is observed on the first Monday of September and is recognized as a statutory holiday in every province and territory. In ​this guide​ from PayTrak, you’ll find a summary of Labour Day requirements for each Canadian jurisdiction.

What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!
What due dates are coming in September?Now’s the time to prep your September Calendar! #BeThatBusiness that is organized! Here are some September due dates that might affect your business:

• If you have employees, September 15th is the due date for your payroll source deductions relating to August's payroll if you are a ​regular remitter​.
• If you have employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. In Ontario, WSIB is due quarterly, and the premiums on earnings from July to Sept are due on Oct 31st.
• If you owed greater than $3k in personal income tax for two years in a row, then you are required to ​pay quarterly installments for next year​. They don't match the business quarterly schedule though. September 15th is the next personal income tax installment due date.
• If you are incorporated, and you owed greater than $3k in corporate Income Tax for your previous fiscal year, then you are required to pay installments for next year on the last day of every month. September 30th is the due date for the ​September Corporate Tax Installment​.​
• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, August's GST/HST filing and remittance is due on September 30th. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter June to August would be due September 30th. Also, if your Corporate Fiscal Year End is March, your Corporate Tax Return is due 6 months after your Fiscal Year end (September 30th). If your Corporate Year End is July, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of September or end of October, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Check out CRA's "​Quick Reference Guide​" for more information.

Be Intentional Today!
Get out there, and Be That Business That Thrives!
​Naomi Wilkins
​I Love Making Bookkeeping Make Sense

​
Disclaimer: This Newsletter is intended to inform readers in general terms. It is not intended to provide any tax or business advice. Please consult your accountant if you have any questions about your unique situation. While I have tried to ensure the accuracy of the information in this newsletter, I accept no liability for errors or omissions

Welcome to July 30th 2025! In this Newsletter:

• What’s due at the end of July?
• My Three Favorite Resources for July!
• What due dates are coming up in August?
• Updates: FFF Zooms and the GGG Case Study
  
  

What’s Due End of July?

Q2 ended June 30th! (The second calendar quarter of 2025; April May & June). So end of July is one of the busy ones! Here are some end of July due dates that may apply to your business;

• If you file your GST/HST Quarterly, the standard quarter of April to June is due to be filed and paid on or before ​July 31st.​
• If your GST/HST is annual, and is based on the standard Calendar Year, and also was payable by more than $3k the previous year you filed, then you are required to pay a second ​GST/HST instalment​ towards your 2024 GST/HST Return on or before July 31st. This instalment should be either 25% of what your net GST/HST was from your previous filing, or 25% of what you predict it will be if you predict it to be less then the year before.
• If you have employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. In Ontario, WSIB is due quarterly, and the premiums on earnings from April 1st to June 30th are due on ​July 31st​.
• If you are incorporated, and you owed corporate Income Tax for your previous fiscal year, then you are required to pay installments for next year on the last day of every month. July 31st is the due date for the ​July Corporate Tax Installment​.
• April to June is the second quarter (Q2) of the calendar year. There may be some industry/jurisdiction specific items due to be filed and paid. Municipal Accommodations Tax (MAT Tax) is a tax that hotels and B&B's in certain jurisdictions may need to pay on July 31st regarding their Q2 incomes, for example. Do you have industry specific due dates that you need to pay, or would like included on this newsletter moving forward? Just let me know!
• Though there are no other standard items due at the end of this month, be aware that if your Corporate Fiscal Year End is January, your Corporate Tax Return is due 6 months after your Fiscal Year end (July 31st). If your Corporate Year End is May, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of July or end of August, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation.

My Three Favorite Resources for July!

1. The Canadian August Long Weekend Explained: When it comes to Stat Holidays, some are Provincial, Some are Federal, and some can just be confusing. The August Long weekend/Civic Holiday is a Provincial holiday that varies from Province to Province. Paytrak put out this ​useful blog post​ that breaks down the legislation and treatment of this holiday from province to province.
2. Rural Ontario Development (ROD) Program: The ROD Program in Ontario provides cost-share funding for projects that help rural communities. There is a branch for Community Development (Municipalities, Indigenous communities, local services boards and NFPs) and also Business Development (Small brick and mortar businesses in rural Ontario with 1 to 20 employees can apply through the business development stream. This stream offers up to 35% cost-share, to a maximum of $10,000.) ​This page​ lists criteria, information sessions, booking 1on1 coaching sessions, and much more! (Have you heard of similar provincial programs in your province? Let me know so I can share them in an upcoming newsletter!)
3. Telus #StandWithOwners Small Business Contest: As I was trying to find if other provinces have rural grants and initiatives, I came across Telus's Small Business Contest. Not just for rural businesses, SMBs in Canada can apply for a chance to win $200,000 in funding, technology, and exposure. Find out more ​here​.

What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!


What due dates are coming up in August?

Note that Aug 31st falls on a Sunday this year, and Labour Day is September 1st. When this happens, the CRA Deadline falls to the ​next business day​, in this case, September 2nd for all Aug 31st noted deadlines below.
Now’s the time to prep your August Calendar! #BeThatBusiness that is organized! Here are some August due dates that might affect your business:

• If you have employees, August 15th is the due date for your payroll source deductions relating to July's payroll if you are a ​regular remitter​.
• If you have employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. In Ontario, WSIB is due quarterly, and the premiums on earnings from July 1st to Sept 30th are due on Oct 31st.
• If you are incorporated, and you owed greater than $3k in corporate Income Tax for your previous fiscal year, then you are required to pay installments for next year on the last day of every month. August 31st is the due date for the ​August Corporate Tax Installment​.
• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, July's GST/HST filing and remittance is due on August 31st. Also, if your Corporate Fiscal Year End is February, your Corporate Tax Return is due 6 months after your Fiscal Year end (August 31st). If your Corporate Year End is June, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of August or end of September, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation.
  
  

This list is not exhaustive, but, they are some of the more universal due dates that could apply to you and your business. If your fiscal year end is not December 31st, be sure to note what due dates are specific to your schedule that are not universal to the generic year ends. CRA has a reference for business due dates ​here​.

Updates:

FABULOUS FIRST FRIDAYS @FIVE!: Looking to connect? Join my live FABULOUS FIRST FRIDAYS @FIVE open Zoom Meeting! My Monthly Open AMA Zoom Chat Session where we can connect and discuss questions regarding all things bookkeeping and business in Canada. It's a free group event where anyone can drop by to say hi and ask a question! Click ​here​ to register! Next one is Friday August 1st,.

GRAND GATE GARDENS LIVE ACTION BOOKKEEPING CASE STUDY!: I'm finalizing my June 2025 source documents for the ​Grand Gate Gardens YouTube Live Action Bookkeeping​ series. June is a BIG HITTER! It's going to cover:

• Asset purchases and loan schedules
• Capital Leases vs Operating Leases
• Employee Reimbursements and Advances in QBO
• Gift Cards vs Discounts Vs Coupons
• Contra Payments (When a vendor is also a customer!)
• Utility Bill Overpayments on Account
• Confirming Vendor Statements
• POS reconciliations
• GST/HST Simplified Regime
• Filing GST/HST in QBO with carry forwards and exceptions

Over Ambitious? Maybe! But even though future source documents (after June) are going to cover all sorts of unique and challenging situations not yet covered, I really did want the full first quarter (Apr to Jun) for this GGG Case Study to cover most of what new and learning bookkeepers will come across so that they can feel more confident when they approach new files!

What's Next?: After I've finalized June 2025 GGG Case Study on YouTube, I will be offering tailored Case Study Solutions for Bookkeeping and Accounting Firms that can be used to illustrate, practice, test, and reinforce their own firm's Unique SOPs for the squishy situations, such as auto expenses, meals expense, capital leases, loans and asset purchases, owner expenses, progress payments, and many other situations that I have seen treated differently across various bookkeeping and accounting firms. Does this interest you? Reach out to me to be added to the top of the list for this unique and helpful solution for your firm!

Be Intentional Today!
Get out there, and Be That Business That Thrives!
​
Naomi Wilkins
​I Love Making Bookkeeping Make Sense

Thanks for reading! If you loved it, subscribe to my Newsletter!.

Disclaimer: This Newsletter is intended to inform readers in general terms. It is not intended to provide any tax or business advice. Please consult your accountant if you have any questions about your unique situation. While I have tried to ensure the accuracy of the information in this newsletter, I accept no liability for errors or omissions

Hello!
Welcome to June 27th 2025! In this Newsletter:

• Announcement! I was a guest on a Podcast!
• What’s due at the end of June?
• My Three Favorite Resources for July!
• What due dates are coming up in July?
• Updates: FFF Zooms & Live Action Bookkeeping!
  
  

Announcement: I was a guest on a Podcast!
My guest appearance on the FABULOUS "​Love, your Business Mom​" Podcast with the equally FABULOUS creator ​Anna Bullock​ This was so much fun! We had such a great conversation!

Summary: Break things into smaller parts, make a plan, those who love you have your back, and transparency is always the best choice! (With a side of Tech Tool suggestions, Accountant vs Bookkeeper, and my Mom Nag reminder to keep your business accounts clean! 😉)

What’s Due End of June?
These are due next business day from the date this newsletter goes out:

• The ​Corporate Tax Return (the T2)​, is due six months after the fiscal year end. If your fiscal year end is the calendar Dec 31st, then the corporations' tax return is due June 30th.
• If your business is involved in construction activities and makes payments to subcontractors for construction services, you will need to file ​T5018s, "Statement of Contract Payments"​ for each of your contractors each year. You can report the payments on a calendar year basis, or based on your fiscal year end. These are due six months after the reporting period you have chosen. If that period ends Dec 31st, then the 2024 T5018's would be due June 30th 2025.
• If you are incorporated, and you owed corporate Income Tax for your previous fiscal year, then you are required to pay installments for next year on the last day of every month. June 30th is the due date for the ​June Corporate Tax Instalment​.
• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, May's GST/HST filing and remittance is due on June 30th If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter March to May would be due June 30th. Also, if your Corporate Fiscal Year End is December, your Corporate Tax Return is due 6 months after your Fiscal Year end (June 30th). If your Corporate Year End is April, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due June or July, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more ​here​.
  
  

My Three Favorite Resources for July!
Now onto my three favorite resources for July!

1. Mid-Year Financial Review: We are halfway through the year, and it is time for you to do a mid-year review of your business. Kata Accounting Solutions has an excellent ​blogpost​ by ​Jonathan Carter, CPA, CMA, CPB​ that covers the key areas to focus on for a strong second half of the year. As the blogpost notes, "Proactive Planning Pays off!". As Jonathan notes, "You need to take care of your money (or someone else will take it!)"
2. Free CRA Liaison Service!: Have you ever wanted to just sit down with someone at CRA and have them answer all your business questions? WELL YOU CAN! The CRA offers a ​free Liaison Officer service​ to help small business owners and self-employed individuals! It's one-on-one and 100% confidential. During a meeting, they will:
   • Help you better understand possible business deductions
   • Explain general bookkeeping concepts and best practices, and provide recommendations to strengthen your bookkeeping system
   • Explain how to avoid common tax errors
   • Give you an overview of helpful online tools and electronic services offered by the CRA
   • Answer your tax-related questions and address concerns
   • Show you how to use the Financial Performance Data to compare your business revenues and expenses with others in the same industry
   Did you catch this this was free?!
3. Custom Soundscapes to focus: As I write this newsletter, I have Binaural Music playing in the background, part of my "Focus Block" routine, and an audio trigger to help me focus. One of the most amazing customizable soundscapes I've had the fortune of finding is ​MyNoise.net​. MyNoise is the brainchild of Stéphane Pigeon, a passionate sound engineer and audio enthusiast with a background in signal processing and a Ph.D. in applied sciences. Not only is this website useful, it's also incredibly fun! You can turn different aspects of each soundscape up and down! Just out in June is the "​Glacier Chorus​" soundscape! In the fall of 2024, Stéphane recorded underwater sounds in a glacier lagoon in Iceland, revealing a vibrant world of sound beneath the seemingly calm surface. The recordings capture the glacier's own voice as it melts, with ice cracking, groaning, and releasing tiny air bubbles that pop and fizz underwater. Also one of my recent favorites is "​Uganda Tales​" which includes gentle tunes of the Ugandan harp and the soft murmur of voices in the Bagandan language, sharing stories and traditions of the region. This site is simply amazing.

What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!

What due dates are coming up in July?
Now’s the time to prep your July Calendar! #BeThatBusiness that is organized! Here are some July due dates that might affect your business:

• If your business has employees, and is a ​Regular Remitter​, July 15th is the due date for ​your payroll source deductions​ relating to June's payroll.
• If you have employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. In Ontario, WSIB is due quarterly, and the premiums on earnings from April 1st to June 30th are due on July 31st.
• If you file your GST/HST Quarterly, the standard quarter of April to June is due to be filed and paid on or before ​July 31st.​
• If your GST/HST is annual, and is based on the standard Calendar Year, and also was payable by more than $3k the previous year you filed, then you are required to pay a second ​GST/HST instalment​ towards your 2024 GST/HST Return on or before July 31st. This installment should be either 25% of what your net GST/HST was from your previous filing, or 25% of what you predict it will be if you predict it to be less then the year before.
• If you are incorporated, and you owed corporate Income Tax for your previous fiscal year, then you are required to pay installments for next year on the last day of every month. July 31st is the due date for the ​July Corporate Tax Instalment​.
• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, June's GST/HST filing and remittance is due on July 31st. Also, if your Corporate Fiscal Year End is January, your Corporate Tax Return is due 6 months after your Fiscal Year end (end of July). If your Corporate Year End is May, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of July or end of August, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more ​here​.
  
  

This list is not exhaustive, but, they are some of the more universal due dates that could apply to you and your business. If your fiscal year end is not December 31st, be sure to note what due dates are specific to your schedule that are not universal to the generic year ends.

Updates:

"LIVE" ACTION BOOKKEEPING May 2025 now out!: My goal of a weekly video for April, May, and June 2025 has had a few curveballs, but as my son would say when he was 7: "Better Nate than Lever!" (Who knows that joke?!). May 2025 Week 4 is finally out, and is JAM PACKED with bookkeeping goodness! We look at Square and Moneris deposits (POS and payment gateway deposits) and how to reconcile them! We also look at why I don't like the "Match" (formerly "Find Match" option) in the bank feed, and how to find and solve a cheque that clears the bank with a typo. We also look at how Vacation Pay is calculated in Ontario, and how to confirm vendor statements match what is entered into the bookkeeping, and so much more! The June videos are on their way! But not as "live" as I had hoped! (They'll be out in July!) Before they are finalized, I get to go to Vancouver BC! I have some amazing friends to connect spend time with in one of the most beautiful spots in Canada, and I can't wait! 

FABULOUS FIRST FRIDAYS @FIVE!: Looking to connect? Join my live FABULOUS FIRST FRIDAYS @FIVE open Zoom Meeting! My Monthly Open AMA Zoom Chat Session where we can connect and discuss questions regarding all things bookkeeping and business in Canada. It's a free group event where anyone can drop by to say hi and ask a question! Click ​here to register! Next one is Friday July 4th, (The day I get back from BC!!)


Be Intentional Today!
Get out there, and Be That Business That Thrives!
​Naomi Wilkins
​I Love Making Bookkeeping Make Sense

Disclaimer: This Newsletter is intended to inform readers in general terms. It is not intended to provide any tax or business advice. Please consult your accountant if you have any questions about your unique situation. While I have tried to ensure the accuracy of the information in this newsletter, I accept no liability for errors or omissions

Hello!
Welcome to May 30th 2025! In this Newsletter:

• What’s due at the end of May?
• My Three Favorite Resources for June!
• What due dates are coming up in June?
  
  

What’s Due End of May?

• If your business is incorporated, and owed corporate Income Tax for the previous fiscal year, then the business is required to pay installments for next year on the last day of every month. May 31st is the due date for the ​May Corporate Tax Instalment​. (Monday June 2nd in 2025, as the 31st falls on a ​Saturday​)
  
  
  
• ​Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, April's GST/HST filing and remittance is due on May 31st. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter February to April would be due May 31st. Also, if your Corporate Fiscal Year End is November, your Corporate Tax Return is due 6 months after your Fiscal Year end (in May). If your Corporate Year End is March, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of May or end of June, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more ​here​.
  
  
  

My Three Favorite Resources for June!

1. CRA's Quick Reference on Business Deadlines - Businesses have different filing and payment deadlines – in May, CRA put out a​ quick reference​ to help you stay organized!
   
   
   
2. Tax Debt Options with CRA - CRA also put out in May a "Tax Tips" post on how you can ​work with CRA to resolve your debt​. This is applicable for both personal and business taxes. If you don't pay or call to discuss your situation, the CRA can take steps to recover the amount you owe, so talking with them is always the best option.
   
   
   
3. Accounting Processes and Workflows: Financial Cents has come out with a free course by the legendary Work Flow Queen ​Kellie Parks​ "​Setting Up Accounting Processes and Workflows​". Written for the bookkeeping firm audience, it has practical suggestions and workflows that can be applied to many situations from office managers to new bookkeeping service providers.
   
   
   

What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!

What due dates are coming up in June?
Now’s the time to prep your June Calendar! #BeThatBusiness that is organized! Here are some June due dates that might affect your business: (Note, June 15th falls on a Sunday. So any ​CRA June 15th due date is actually June 16th in 2025​)

• If your business has employees, and is a ​Regular Remitter​, June 15th is the due date for your ​payroll source deductions​ relating to May's payroll. (In 2025, June 15th is a Sunday, so technically due June 16th this year). ​
  
  
  
• If your business has employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. (In Ontario, WSIB is due quarterly, and the premiums on earnings from April to June are due on July 31st)
  
  
  
• Even though the ​payment deadline​ for your personal income taxes was April 30th, if you are self-employed, your​ personal income tax return​ is due to be filed June 15th. (In 2025, June 15th is a Sunday, so technically due June 16th this year).
  
  
  
• If your ​GST/HST Filing is annual​, and based on the Calendar Year January to December, AND you are a self-employed, then your due date to file your HST is June 15th. BUT! Your due date to PAY was April 30th
  
  
  
• If you were ​payable by $3,000 or more​ on your personal income taxes for 2023 and also for 2024, CRA requires that you pay installments on your 2025 income taxes. If you fall into this category, June 15th your second ​personal income tax installment​ is due. ​
  
  
  
• The ​Corporate Tax Return (the T2)​, is due six months after the fiscal year end. If your fiscal year end is the calendar Dec 31st, then the corporations' tax return is due June 30th. But these take time to prepare. If you haven't reached out to your accountant yet, then make this a priority right away.
  
  
  
• If your business is involved in construction activities and makes payments to subcontractors for construction services, you will need to file ​T5018s, "Statement of Contract Payments"​ for each of your contractors each year. You can report the payments on a calendar year basis, or based on your fiscal year end. These are due six months after the reporting period you have chosen, either your fiscal year end, or the calendar year end. If that period ends Dec 31st, then the 2024 T5018's would be due June 30th 2025.
  
  
  
• If your business is incorporated, and owed corporate Income Tax for the previous fiscal year, then you are required to pay installments for next year on the last day of every month. June 30th is the due date for the ​June Corporate Tax Installment​.
  
  
  
• ​Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, May's GST/HST filing and remittance is due on June 30th. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter March to May would be due June 30th. Also, if your Corporate Fiscal Year End is December, your Corporate Tax Return is due 6 months after your Fiscal Year end (June 30th). If your Corporate Year End is April, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of June or end of July, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more ​here​.
  
  
  
  

Be Intentional Today!
Get out there, and Be That Business That Thrives!
​Naomi Wilkins
​Making Business Make Sense
​www.naomiwilkins.ca
​Disclaimer: This Newsletter is intended to inform readers in general terms. It is not intended to provide any tax or business advice. Please consult your accountant if you have any questions about your unique situation. While we have tried to ensure the accuracy of the information in this article, we accept no liability for errors or omissions.

Hello!
Welcome to March 28th 2025! In this Newsletter:

• What’s due at the end of March?
• My Three Favorite Resources for March!
• What due dates are coming up in April?

What’s Due End of March?

• If your GST/HST Filing is annual, and based on the Calendar Year January to December, AND your business is a partnership or your business is incorporated, then your annual ​GST/HST Return​ is due to be filed and paid on or before March 31st.
• If your business is incorporated, and owed greater than $3k in corporate Income Tax for the previous fiscal year, then it is required to pay installments for next year on the last day of every month. March 31st is the due date for the ​March Corporate Tax Installment​.
• If required, partnerships (except those made up of corporations, or a combination of individuals, corporations, and trusts with different filing dates) must file a ​Partnership Information Return ​before this March 31st.
• ​​NR4's​ are issued by Canadian Payers who make payments to non-residents of Canada for income such as interest, dividends, rents, royalties, pensions, and acting services. These are due to be filed with CRA on March 31st.
• ​​T3 Trusts Returns​ also are due on March 31st. Last year, CRA updated their Reporting Requirements for trusts, and there were trusts that needed to file for the first time. More information can be found on CRA ​here​.
• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, February's GST/HST filing and remittance is due on March 31st. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter December to February would be due March 31st. Also, if your Corporate Fiscal Year End is September, your Corporate Tax Return is due 6 months after your Fiscal Year end (in March). If your Corporate Year End is January, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due in March or in April, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more ​here​.

My Favourite Hacks & Resources from March!
Here's three fabulous resources for Entrepreneurs to spring into spring!

​

1. 13 Spring Cleaning Tasks for Canadian Businesses: This month I created a Spring Cleaning Checklist for Canadian Businesses! Vacation Pay, EHT, Business Name Registration, Website updates, Uncleared Items and more... what important tasks and checks are slipping through the cracks that could impact compliance, or increase profit? Don't forget to include your business in your Spring Cleaning Goals! Download the printable checklist ​here​!
2. Are they an Employee or a Contractor?: Both CRA and WSIB/WCB are very opinionated on whether that worker is an Employee or not, and if an Employee, then the Employee Labour Standards and Regulations apply. "Misclassifying workers can lead to payroll headaches, tax troubles, legal issues and compliance issues. The Canada Revenue Agency (CRA) holds employers responsible for getting this right, so understanding the key differences is crucial." writes Bianca Mueller, in her recent Blog Post "​Hiring in Canada? Here's What You Need to Know About Employees Vs. Contractors.​"
3. My Canadian Payroll Basics Course now Live!: Canadian Payroll Basics for Bookkeepers, Office Managers, and Entrepreneurs. Unlock the complexities of Canadian payroll and seamlessly integrate it with your bookkeeping processes. This course provides a thorough understanding of foundational payroll concepts, from how the deductions are calculated to navigating tax regulations and remittances. You'll learn to accurately track payroll totals and manage vacation pay. We'll delve into both manual payroll processing and the use of payroll apps and services, equipping you with practical skills for real-world scenarios. You'll explore how payroll data impacts your general ledger accounts and financial reports, including the intricacies of cash vs. accrual accounting, and the methods of modified cash accounting to increase efficiency without losing accuracy.
   

What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!
What due dates are coming up in April?Now’s the time to prep your April Calendar! #BeThatBusiness that is organized! Here are some April due dates that might affect your business:

• If you have employees, April 15th is the due date for your payroll source deductions if you are a regular remitter relating to March's payroll.
  
• If you have employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. In Ontario, ​WSIB is due quarterly for Insurable Earnings over $20k​, and the premiums on earnings from Jan 1st to March 31st are due on April 30th.
  
• If your GST/HST is quarterly, and falls on the standard quarters, then the 1st quarter (Jan to Mar), is ​due to be filed and paid​ on or before April 30th
  
• If your ​GST/HST Filing is annual​, and based on the Calendar Year January to December, AND you are a self-employed, then your due date to file your HST is June 15th. BUT! Your due date to PAY is April 30th.
  
• If your GST/HST is annual, and is based on the standard Calendar Year, and also was payable by more than $3k the previous year you filed, then you are required to pay a ​GST/HST installment​ towards your 2025 GST/HST Return on or before April 30th. This installment should be either 25% of what your net GST/HST was from your previous filing, or 25% of what you predict it will be if you predict it to be less then the year before.
  
• For those who are not self-employed (or are not a spouse of someone self-employed), their ​Personal Income Tax Return​ is due on or before April 30th. April 30th is also their due date to pay any income tax owing. ​
  
• For those who ARE self-employed (or are the spouse of someone self-employed), though their Personal Income Tax Return is not due until June 15th,​ your due date to pay any income tax owing is STILL April 30th!​ Even if your income tax is not finalized, find out an estimate of what the taxes may be, and be sure to pay that to CRA as an installment on 2024's tax account before April 30th.
  
• UHT; Underused Housing Tax Return: If you own or have an interest in a residential property in Canada with 3 or less units you may need to file an ​Underused Housing Tax return​ by April 30th 2025. Find out more details about the UHT Return from my ​Oct 2023 newsletter​.
  
• If you are incorporated, and you owed corporate Income Tax for your previous fiscal year, then you are required to pay installments for next year on the last day of every month. April 30th is the due date for the ​April Corporate Tax Installment​.
  
• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, March's GST/HST filing and remittance is due on April 30th. Also, if your Corporate Fiscal Year End is October, your Corporate Tax Return is due 6 months after your Fiscal Year end (in April). If your Corporate Year End is February, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due in April or in May, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more ​here​.
  

Be Intentional Today!
Get out there, and Be That Business That Thrives!
​Naomi Wilkins
​Making Business Make Sense
​www.naomiwilkins.ca
​Disclaimer: This Newsletter is intended to inform readers in general terms. It is not intended to provide any tax or business advice. Please consult your accountant if you have any questions about your unique situation. While we have tried to ensure the accuracy of the information in this article, we accept no liability for errors or omissions.

Hello!
Welcome to May 30th 2025! In this Newsletter:

• What’s due at the end of May?
• My Three Favorite Resources for June!
• What due dates are coming up in June?

What’s Due End of May?

• If your business is incorporated, and owed corporate Income Tax for the previous fiscal year, then the business is required to pay installments for next year on the last day of every month. May 31st is the due date for the ​May Corporate Tax Instalment​. (Monday June 2nd in 2025, as the 31st falls on a ​Saturday​)
  
  
• ​Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, April's GST/HST filing and remittance is due on May 31st. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter February to April would be due May 31st. Also, if your Corporate Fiscal Year End is November, your Corporate Tax Return is due 6 months after your Fiscal Year end (in May). If your Corporate Year End is March, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of May or end of June, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more ​here​.
  
  

My Three Favorite Resources for June!

1. CRA's Quick Reference on Business Deadlines - Businesses have different filing and payment deadlines – in May, CRA put out a​ quick reference​ to help you stay organized!
   
   
2. Tax Debt Options with CRA - CRA also put out in May a "Tax Tips" post on how you can ​work with CRA to resolve your debt​. This is applicable for both personal and business taxes. If you don't pay or call to discuss your situation, the CRA can take steps to recover the amount you owe, so talking with them is always the best option.
   
   
3. Accounting Processes and Workflows: Financial Cents has come out with a free course by the legendary Work Flow Queen ​Kellie Parks​ "​Setting Up Accounting Processes and Workflows​". Written for the bookkeeping firm audience, it has practical suggestions and workflows that can be applied to many situations from office managers to new bookkeeping service providers.
   
   

What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!


What due dates are coming up in June?
Now’s the time to prep your June Calendar! #BeThatBusiness that is organized! Here are some June due dates that might affect your business: (Note, June 15th falls on a Sunday. So any ​CRA June 15th due date is actually June 16th in 2025​)

• If your business has employees, and is a ​Regular Remitter​, June 15th is the due date for your ​payroll source deductions​ relating to May's payroll. (In 2025, June 15th is a Sunday, so technically due June 16th this year). ​
  
  
• If your business has employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. (In Ontario, WSIB is due quarterly, and the premiums on earnings from April to June are due on July 31st)
  
  
• Even though the ​payment deadline​ for your personal income taxes was April 30th, if you are self-employed, your​ personal income tax return​ is due to be filed June 15th. (In 2025, June 15th is a Sunday, so technically due June 16th this year).
  
  
• If your ​GST/HST Filing is annual​, and based on the Calendar Year January to December, AND you are a self-employed, then your due date to file your HST is June 15th. BUT! Your due date to PAY was April 30th
  
  
• If you were ​payable by $3,000 or more​ on your personal income taxes for 2023 and also for 2024, CRA requires that you pay installments on your 2025 income taxes. If you fall into this category, June 15th your second ​personal income tax installment​ is due. ​
  
  
• The ​Corporate Tax Return (the T2)​, is due six months after the fiscal year end. If your fiscal year end is the calendar Dec 31st, then the corporations' tax return is due June 30th. But these take time to prepare. If you haven't reached out to your accountant yet, then make this a priority right away
  .
• If your business is involved in construction activities and makes payments to subcontractors for construction services, you will need to file ​T5018s, "Statement of Contract Payments"​ for each of your contractors each year. You can report the payments on a calendar year basis, or based on your fiscal year end. These are due six months after the reporting period you have chosen, either your fiscal year end, or the calendar year end. If that period ends Dec 31st, then the 2024 T5018's would be due June 30th 2025.
  
  
• If your business is incorporated, and owed corporate Income Tax for the previous fiscal year, then you are required to pay installments for next year on the last day of every month. June 30th is the due date for the ​June Corporate Tax Installment​.
  
  
• ​Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, May's GST/HST filing and remittance is due on June 30th. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter March to May would be due June 30th. Also, if your Corporate Fiscal Year End is December, your Corporate Tax Return is due 6 months after your Fiscal Year end (June 30th). If your Corporate Year End is April, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of June or end of July, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation. Find out more ​here​.

Be Intentional Today!
Get out there, and Be That Business That Thrives!
​Naomi Wilkins
​Making Business Make Sense
​www.naomiwilkins.ca
​Disclaimer: This Newsletter is intended to inform readers in general terms. It is not intended to provide any tax or business advice. Please consult your accountant if you have any questions about your unique situation. While we have tried to ensure the accuracy of the information in this article, we accept no liability for errors or omissions.

Welcome to February 27th 2025! In this Newsletter:

• What’s due at the end of February?
• My Three Favorite Resources for February!
• What due dates are coming up in March?

​What’s Due End of February?The due dates below are the generic due dates for February, BUT! Because of the recent updates to how Tslips are filed, and the issues businesses are having working out the kinks, CRA is granting relief in respect of late filing penalties for information returns filed on or before March 7th 2025 for those information returns normally due on February 28th 2025! Find out more from CRA here!

• T4s are due to be filed for your employees on or before February 28th. If you used a payroll provider, make sure they will be filing your Employee’s T4s for you. If you use payroll software, there may be some extra steps for you to do. In Quickbooks, it’s a simple .xml file to upload! (Here's my Video on how to do that!) Then you can print the Employee’s copy right from Quickbooks! If you did your payroll for your employees manually, and are curious how to file them online using CRA’s webforms, here’s a handy dandy video I made a few years ago on how to do that. When you use CRA’s webforms to manually file, you can print a copy from there to hand out to your employees.
  ​
• T4As are also due on or before Feb 28th. T4As are the income slips that you issue to independent workers who are not an employee, such as contractors who received a commission.
  ​
• T5s are also due on or before Feb 28th. T5s report various types of investment income. They also can declare dividend income (and shareholder draws) for shareholders of a corporation, and are done by your accountant. Your accountant will need to see your financials to see what needs to be issued, so now is the time to finalize your 2024 bookkeeping and share with your accountant so they can prepare and file your T5s on time.
  ​
• f you are a charity, then Feb 28th is also when your donation receipts are due to be issued. A reminder for the 2024/2025 donation years; CRA has announced the charitable donation deadline for the 2024 year has been extended to Feb 28th 2025.​
  ​
• March 3rd 2025 is the Deadline for Contributing to an RRSP for the 2024 Tax Year. (Not February due date, but very soon after February ends!)
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• If you business is incorporated, and owed greater than $3k in corporate Income Tax for the previous fiscal year, then it is required to pay installments for next year on the last day of every month. February 28th is the due date for the February Corporate Tax Installment.
  ​
• If your Corporation is federally incorporated, you must file with Corporations Canada every year. Though they call it an "annual return" this is not the Corporate Tax Return (T2) that you must file with CRA every year. The filing deadline is 60 days following a corporation's anniversary date. Find out more here.
  ​
• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, January's GST/HST filing and remittance is due on February 28th. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter November to January would be due Feb 28th. Also, if your Corporate Fiscal Year End is August, your Corporate Tax Return is due 6 months after your Fiscal Year end (February). If your Corporate Year End is December, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due February or March, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation.​
  ​

My Three Favorite Resources for February!This month's theme is unsurprisingly... personal income tax!

1. How I do my T2125: Ah Spring… the season we start to get ready to file our personal income taxes! There are a lot of options out there to get your income taxes filed, either DIY or by a professional income tax provider. If your situation is complex, a professional income tax provider can be a great resource! But if you file your own taxes, and haven’t heard yet about Wealthsimple Tax, now’s a great time to check it out! As a Bookkeeper, I don't offer tax services, but I do prepare my own tax return, and a few years ago I thought I'd share how I do my T2125 (Statement of Business Activities/Self Employment income) on YouTube, with a follow up of how I put that into Wealthsimple Tax.
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2. Captial Gains Explained! - Not just for business owners! This article by Moneysense explains how capital gains are taxed and how to avoid payment more taxes where selling your assets!
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3. Taxes on Investments: Kata Accounting Solutions put out a fabulous blog post discussing how taxes on investments work, some of the tools at your disposal, and how your investment income will be treated. Again, this is more related to personal income tax, but as an entrepreneur, you likely are either interested in or are an active investor, so I thought this resource would be of interest to you!
   ​

What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!
What due dates are coming up in March?Now’s the time to prep your March Calendar! #BeThatBusiness that is organized! Here are some March due dates that might affect your business:​

• March 3rd 2025 is the Deadline for Contributing to an RRSP for the 2024 Tax Year.
  ​
• March 7th 2025 is the extended grace period that CRA is granting relief in respect of late filing penalties for information returns (T slips) filed on or before March 7th 2025 for those information returns normally due on February 28th 2025. Find out more from CRA here.
  ​
• If you have employees, March 15th is the due date for your payroll source deductions relating to February's payroll if you are a regular remitter. (March 15th is a Saturday in 2025, so they would be due Monday March 17th this year).
  ​
• If you have employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. (In Ontario, WSIB is due quarterly, and not due until April 30th)
  ​
• March 15th the first quarterly personal tax installment is due. If you are a self employed individual, no one is deducting income taxes from you. Because of this, if you had over $3,000 in personal income taxes payable on filing in the previous year, CRA would like you to pay instalments on your personal income taxes for the next year. (March 15th is a Saturday in 2025, so they would be due Monday March 17th this year).
  ​
• ​NR4's are issued by Canadian Payers who make payments to non-residents of Canada for income such as interest, dividends, rents, royalties, pensions, and acting services. The NR4 information return is due on or before March 31st following the calendar year to which the information return applies, or in the case of an estate or trust, no later than 90 days after the end of the estate’s or trust’s tax year.
  ​
• If required, partnerships (except those made up of corporations, or a combination of individuals, corporations, and trusts with different filing dates) must file a T5013 Partnership Information Return before March 31st.
  ​
• ​T3 Trusts Returns also are due on March 31st. Last year, CRA updated their Reporting Requirements for trusts, and there were trusts that needed to file for the first time. More information can be found on CRA here.
  ​
• If your business is incorporated, and owed greater than $3k in corporate Income Tax for the previous fiscal year, then it is required to pay installments for next year on the last day of every month. March 31st is the due date for the March Corporate Tax Instalment.
  ​
• March 31st is the GST/HST Return and payment deadline for corporate and partnership annual filers (calendar year).
  ​
• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, February's GST/HST filing and remittance is due on March 31st. If your Sales Tax quarterly filing is on a different schedule because of a corporate fiscal year end date that is not standard, the GST/HST for a quarter December to February would be due March 31st. Also, if your Corporate Fiscal Year End is September, your Corporate Tax Return is due 6 months after your Fiscal Year end (March). If your Corporate Year End is January, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due March or April, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation.

Be Intentional Today!
Get out there, and Be That Business That Thrives!
​
Naomi Wilkins
​Making Business Make Sense
​www.naomiwilkins.ca

This month I have been reading The Uninhabitable Earth by David Wallace-Wells. It is sobering. And it has inspired this month's hacks: How you can make your business more earth friendly!

3 (Green) Business Hacks:

1. Reduce Waste and Optimize Energy Use: Take a look at your workplace, services, and products and ask yourself if you have cut out as much physical waste as possible. Could you use recyclable or compostable components? How much is essential? Once you tackle your physical waste, look at your workplace and processes. Are there small things you can do such as more efficient light bulbs, energy saving power strips, etc? ​
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2. Consider The Life of your Business Gifts and Swag: At first novelty gifts are fun, but then they're clutter and waste. I think the world has enough stress balls. Instead, consider giving your clients & employees a gift that's meaningful for them and the planet. Some ideas are Seeded Memories, or perhaps something from The Abor Day Foundation.
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3. Ask Your Employees and Clients for their Green Ideas: A fresh set of eyes and perspectives are always valuable! Clients may point out ideas about packaging, and employees may see ways to reduce waste in processes or the workspace that you hadn't considered. As Ken Blanchard says, "None of us are as smart as all of us!"

Be Intentional Today!
Get out there, and Be That Business That Thrives!

Take advantage of the fabulous FREE resources I found from three of our Canadian Banks!

1. TD Bank Small Business Tools & Resources: TD Bank has a "Tools & Resources" page for Canadian Small Businesses including a cash flow calculator, business plan template, profit increase calculator, and more!​
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2. RBC on "Salary Vs Dividends": One of the most common questions that is asked by new incorporated business owners, (and one of the most IMPORTANT to ask!) is what is better, Salary or Dividends? The answer, as always, is that it depends on the situation. RBC Wealth Management put out an indepth review in 2017 that illustrates different scenarios of Salary Vs Dividends. If you're looking for something a bit more recent, and a bit less indepth, Money Sense Magazine put out a Fabulous article "Should you pay yourself a Salary?" Then connect with an accountant to create your specific "Shareholder Compensation Plan", because failing to plan can cost a LOT of money in taxes! #NeverGiveCRAmoreMoneyThanYouHaveTo
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3. BDC's "Optimize Your Business Processes" Guide: BDC has so many fabulous & free resources, and this month I want to highlight their guide for Optimizing Your Business Processes. I often say "Begin with the end in mind" and "Fight Double-Work!". So, an entrepreneur's guide to optimizing business processes is right up my ally!

What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!
​Be Intentional Today!
Get out there, and Be That Business That Thrives!