Q:
Can the company declare dividends if the company is making loss during the year?
A:
If the company has retained earnings and also passes
the solvency test, the company can still declare dividends even though the company is making loss during the year.
Q:
As a tax resident individual, when is the deadline to file tax return form?
A:
If you are not earning any business income, the deadline to file your tax return form is by 30 April every year. If you are earning business
income, the deadline to file your tax return form is by 30 June every year.
Wishing you plentiful tax savings!
Zen Chow
YYC Tax Guru
P.S. I've received a lot of tax questions, so now I am answering the frequently asked questions and sharing them with you weekly!
P.P.S. One more thing. I
have a FREE Tax Livestream that you won't want to miss out. Because you can learn how to SAVE TAX for business! Reserve your FREE seat here: bit.ly/zen-taxlive