Frequently Asked Questions

Tax Questions

Q. How do I report my business income?
Q. Should I use the T4A or T5018 slip when I pay my subcontractors?
Q. What business expenses can a Canadian business claim?
Q. Are there any expenses small businesses cannot deduct?
Q. What is the goods and services tax credit?
Q. Do I qualify for the business-use-of-home tax deduction?
Q. Can I still claim business expenses if my company has losses for couple years in a row?
Q. How do I report payments to subcontractors for construction services?
Q. What exactly is a tax refund or tax credit? How do I apply for a grant?
Q. How can I obtain a copy of the Income Tax Act?
Q. What is the role of the Canada Revenue Agency (CRA)?
Q. What is CRA’s “My Payment”?
Q. I did not receive T4 slip from my previous employer. What should I do?



Q. What is a tax audit?
Q. Who is usually selected for an audit?
Q. How does the CRA select who will be audited?
Q. Can I refuse to provide my personal financial information to a CRA’s auditor?
Q. How can I decrease the possibility of an audit?


Q. Do I need to register for the GST/HST?
Q. What is the difference between GST zero-rated and GST exempt goods and services?
Q. What kinds of goods and services are GST/HST exempt or zero-rated?
Q. Why would I want to register for GST/HST voluntarily?
Q: When do I have to file my GST/HST returns?
Q: What are the penalties for filing a late GST/HST return?