{"id":1892,"date":"2023-02-20T10:47:52","date_gmt":"2023-02-20T15:47:52","guid":{"rendered":"https:\/\/www.rdcapital.ca\/?p=1892"},"modified":"2025-02-11T11:15:21","modified_gmt":"2025-02-11T16:15:21","slug":"it-pays-to-be-fiscally-responsible","status":"publish","type":"post","link":"https:\/\/www.rdcapital.ca\/en\/it-pays-to-be-fiscally-responsible\/","title":{"rendered":"It pays to be fiscally responsible!"},"content":{"rendered":"\n<p>Corporation Taxation<\/p>\n\n\n\n<p>We&#8217;ve entered that time of year when tax discipline is the order of the day. Even if it&#8217;s not very pleasant, diligently managing your tax obligations can save you a lot of trouble and hassle and speed up the repayment of your tax credits.<\/p>\n\n\n\n<p>February 28, is a deadline that must not be missed or you risk incurring financial penalties that could be significant.<strong> <u>You will have to file and transmit your annual source deduction.\u00a0 For <\/u><\/strong><a href=\"https:\/\/www.revenuquebec.ca\/en\/businesses\/source-deductions-and-employer-contributions\/filing-rl-slips-and-the-rl-1-summary-general-rules\/rl-1-summary-summary-of-source-deductions-and-employer-contributions\/\" target=\"_blank\" rel=\"noreferrer noopener\">Revenu Quebec, 1-Employee Summary report<\/a><strong><u> and for the <\/u><\/strong><a href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/services\/tax\/businesses\/topics\/payroll\/completing-filing-information-returns\/t4-information-employers\/t4-summary.html\" target=\"_blank\" rel=\"noreferrer noopener\">Canada Revenue Agency, the T4 Summary report.<\/a> Companies using a payroll service will need to ensure that the provincial portion is filed, as this is not the case for all.\u00a0 Some services, such as Ceridian, do not file the 1-Employee Summary, while Desjardins does. It is therefore important to ask your payroll service for information.<\/p>\n\n\n\n<p>The same rigour is required for the transmission of GST and QST returns as well as corporate income tax returns.<\/p>\n\n\n\n<p>In short, the best way to limit the possibility of a tax audit and avoid paying penalties that can sometimes be substantial is to meet your tax obligations on time. And as a bonus, it will also facilitate the processing and refunding of your tax credits.<\/p>\n\n\n\n<p>R&amp;D Capital is your partner of choice for <a href=\"https:\/\/www.rdcapital.ca\/wp-content\/uploads\/2021\/09\/one-pager-anglais.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">financing your tax credits<\/a>, such as multimedia, scientific research and experimental development (SR&amp;ED), the Development of E-Business (CDAE), and for investment and innovation (C3I), in addition to financing several types of federal and provincial subsidies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It pays to be fiscally responsible!<\/p>\n","protected":false},"author":5,"featured_media":1893,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[8,9],"tags":[53,49,51,37,38,52,50,54],"class_list":["post-1892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-news","tag-1-employee-summary","tag-e-business","tag-financing-innovation","tag-financing-sred","tag-financing-tax-credits","tag-multimedias-3","tag-sred","tag-t4-summary"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>It pays to be fiscally responsible! 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