Review & Assurance
Corporate Tax Services
Compilation, Accouting & Bookkeeping
Outsourced CFO & Controller Services
Corporate Secretarial Services
Cloud Accounting & Software Solutions
Financial Planning
At Vault, we provide dedicated support for self-employed professionals and contractors. from organized bookkeeping to precise tax preparation and planning, we ensure you stay compliant, capture every eligible deduction, and maintain clear insight into your business performance.
At Vault, we provide dedicated support for self-employed professionals and contractors. from organized bookkeeping to precise tax preparation and planning, we ensure you stay compliant, capture every eligible deduction, and maintain clear insight into your business performance.
self-employed tax returns (T1) are due on June 15 each year, though any balance owing must be paid by April 30. filing early allows more time to plan payments and avoid late interest or penalties from the CRA.
Self-employed individuals must register for GST/HST once their business earns over $30,000 in four consecutive quarters. Registering early helps you claim input tax credits and stay compliant with CRA filing requirements.
Contractors can deduct home office expenses if their workspace is used regularly and exclusively for business. Eligible costs include utilities, rent, and internet based on the percentage of space used for work.
Self-employed individuals pay both the employee and employer portions of CPP when filing their T1 return. Setting aside funds throughout the year ensures you meet your CPP obligations and avoid surprise balances.
