Many self-employed individuals in Ontario face confusion regarding the distinction between the tax filing deadline and the payment deadline. While self-employed individuals have until June 15 to file returns, any balance owed for the 2024 tax year must be paid by April 30…

As the March 3 deadline for Registered Retirement Savings Plan (RRSP) contributions nears, First Richvale Corp. (FRC) encourages Ontario residents to finalize their 2024 tax planning strategies. Contributing to an RRSP remains a primary way to reduce taxable income…

As 2025 begins, First Richvale Corp. (FRC) is drawing attention to the importance of early tax planning for Ontario corporations with a December 31 fiscal year-end. The Canada Revenue Agency (CRA) typically requires T2 returns to be filed within six…

First Richvale Corp. (FRC) reminds Ontario employers and contractors that T4 and T4A slips must be issued by the final day of February. With this deadline looming, FRC stresses the importance of accurate payroll reconciliation, proper worker…

As 2025 begins, First Richvale Corp. (FRC) encourages businesses, self-employed individuals, and taxpayers across Ontario to prioritize strong bookkeeping routines that lay the foundation for successful tax filings later in the year. January, traditionally less hectic than peak tax months, is an ideal time to evaluate existing record-keeping methods, introduce process improvements, and rectify any oversights lingering from the previous year.

Early in the new year, First Richvale Corp. (FRC) recommends that individuals, self-employed professionals, and businesses throughout Ontario begin organizing financial records to help reduce complications when tax deadlines arrive. By examining relevant documents—such as receipts, bank statements, and payroll summaries—in January, taxpayers can better handle due dates, track potential credits, and prevent costly mistakes…

Canada’s capital gains tax changes are in limbo after Parliament was prorogued, but the CRA is already collecting the higher rate introduced by the federal government.

Anyone facing a significant capital gain (including investors, small business owners, entrepreneurs, and even cottage owners) now faces uncertainty and potentially higher bills when they sell. Will these tax changes in Canada actually stick, or be rolled back in the next session of Parliament?

As 2024 comes to a close, we at First Richvale Corp. want to take this opportunity to express our sincere gratitude to our clients, partners, and community. Your trust and support over the past year have been the cornerstone of our success, and we are truly honored to be a part of your journey…