Marlene L. Grant Professional Corporation

Chartered Professional Accountant, Certified General Accountant

Tough tax penalty raises fairness concerns

Most individuals don't realize that even the most innocent failure to file a T slip at tax time can result in very large penalties.

Forget to file two T-slips in any 4 year period and you will likely be assessed a penalty of 20% of the amounts on those T-slips.

This article courtesy of the CBC explains the issue in detail.

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