Frequently Asked Questions

We See More Than Numbers!

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Accounting Service

When considering an accounting firm, know that every firm offers three levels of assurances when it comes to financial statements:

1. Compilation

2. Review

3. Audit.

Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised.

Corporate Services

Due to our diverse client base, we encounter a wide array of financial and tax issues. We feel our ability to provide such a variety of services reflects our versatility and competency, as well as our dedication to quality client service.

Tax Services

The right tax strategy is crucial to the sustainable growth both of your personal net worth and of your business. Taxes can significantly deplete your earnings and net worth. We take a proactive and responsible approach to managing your tax obligations to make a critical impact on your bottom line.

Wealth Planning

JB-Global recognizes that your investment advisory activities should be linked to your tax planning activities. Managing Partner treats the whole package, offering investment planning in conjunction with other Partners.

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Raising the standard in Accountancy
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Frequently Asked Questions

  1. How to get a proof of income statement?
  2. Preparing for life’s big decisions?
  3. is the audit changing?
  4. Filing due dates for the 2015 tax return
  5. Corporation income tax return
  6. When is your Form T3010, Registered Charity Information Return due?

How to get a proof of income statement?

  • You may need a proof of income statement. This is also called an "option 'C' print." A financial institution or government may request this information when you apply for a loan, qualify for a benefit or subsidy, or for other reasons. You can get one quickly and easily using the CRA's online services.
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Preparing for life’s big decisions?

  • Whether you are thinking about buying your first home, planning a big trip, or looking to retire early, you may be worried about how this will affect your financial situation. No matter what stage of life you are at, you will always be faced with decisions and as you approach each decision, one of the best ways to be prepared is by having a financial plan. A financial plan can help you stay on track so you always know where you stand and what the best decisions are for your specific situation.
  • To help create a financial plan that will work for you and the decisions you will face, talk to us. JB-Global has the experience, expertise and resources to walk you through the options that will meet your needs today and in the future.
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is the audit changing?

  • Yes, although many can still recall the days of paper-driven audits and manually-prepared spreadsheets, computing capabilities and a new arsenal of cutting-edge tools have transformed both how we approach the audit and the value the audit can deliver. Two innovative approaches in particular—the use of Data and Analytics (D&A) to mine and analyze financial data and the application of Lean principles to better realize value within the audit process—are revolutionizing the way audits are being executed and the results audit clients are seeing.
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Filing due dates for the 2015 tax return

  • Generally, your return for 2015 has to be filed on or before April 30, 2016.
  • Self-employed persons - If you or your spouse or common-law partner carried on a business in 2015 (other than a business whose expenditures are primarily in connection with a tax shelter), your return for 2015 has to be filed on or before June 15, 2016. However, if you have a balance owing for 2015, you have to pay it on or before April 30, 2016. For more information on how to make your payment, see Make a payment.
  • Exception to the due date of your return - When the due date falls on a Saturday, a Sunday, or a holiday recognized by the CRA, we consider your return to be filed on time if we receive it or it is postmarked on the next business day. For more information, see Important dates for 2016 (Individuals).
  • Deceased persons - If you are the legal representative (the executor, administrator, or liquidator) of the estate of a person who died in 2015, you may have to file a return for 2015 for that person. For more information about your filing requirements and options and to know what documents are required, see Guide T4011, Preparing Returns for Deceased Persons, and Information Sheet RC4111, What to Do Following a Death. The due date for the final return will depend on the date of death and whether or not the deceased or his or her spouse or common-law partner carried on a business in 2015.
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Corporation income tax return

  • All resident corporations (except tax-exempt Crown corporations, Hutterite colonies and registered charities) have to file a corporation income tax (T2) return every tax year even if there is no tax payable. This includes: non-profit organizations; tax-exempt corporations; and inactive corporations.
  • Most corporations can file their return electronically using the Internet. It is mandatory for certain corporations with annual gross revenues that exceed $1 million.
  • Non-resident corporations have to file a T2 return in certain situations.
  • When to file your corporation income tax return - File your return no later than six months after the end of each tax year. The tax year of a corporation is its fiscal period. When the corporation's tax year ends on the last day of a month, file the return by the last day of the sixth month after the end of the tax year. When the last day of the tax year is not the last day of a month, file the return by the same day of the sixth month after the end of the tax year.
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When is your Form T3010, Registered Charity Information Return due?

  • File your return no later than six months after the end of your fiscal period. You could lose your charitable status if you file your return late. The Canada Revenue Agency will mail the return package in the month following the end of your fiscal period. If you do not receive your return package, call 1-800-267-2384.
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Fraudulent emails and phone calls - Protect yourself!

The CRA is warning Canadians that fraudulent emails and phone calls purporting to be from the Agency are currently being reported.

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