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GCSE, Green Chencinski Starkman Eles LLP Chartered Accountants, is a full-service, public accounting firm, primarily serving the small and mid-size, entrepreneurial business and professional sectors in Toronto Canada. GCSE’s experienced partners and professional, support staff strive to provide accounting and advisory services using an invaluable personal approach, designed to meet each client’s individual needs. This “personal touch”, combined with a full range of accounting, auditing, tax compliance and planning services allows GCSE to meet all your business and personal accounting requirements.

  Electronic Filing Of Information Returns

If a taxpayer has to file more than 50 information returns such as T-4 slips, they must be filed electronically. The penalty for filing in an incorrect format is as follows:

§ $250 if between 51 – 250 returns
§ $500 if between 251 – 500 returns
§ $1,500 if between 501 and 2,500 returns
§ $2,500 if more than 2,500 returns

It is important to pay attention to how a return must be filed.

There is a separate late filing penalty that may be payable:
§ $10 per day if less than 51 returns
§ $15 per day if between 51-500 returns
§ $25 per day if between 501-2,500 returns
§ $50 per day if between 2,500 and 10,000 returns
§ $75 per day if more than 10,000 returns
§ Total penalty capped at 100 days (i.e. between $1,000 and $7,500)
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