Hello Reader!

Welcome to July 30th 2025! In this Newsletter:

• What’s due at the end of July?
• My Three Favorite Resources for July!
• What due dates are coming up in August?
• Updates: FFF Zooms and the GGG Case Study
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What’s Due End of July?

Q2 ended June 30th! (The second calendar quarter of 2025; April May & June). So end of July is one of the busy ones! Here are some end of July due dates that may apply to your business;
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• If you file your GST/HST Quarterly, the standard quarter of April to June is due to be filed and paid on or before July 31st.​
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• If your GST/HST is annual, and is based on the standard Calendar Year, and also was payable by more than $3k the previous year you filed, then you are required to pay a second GST/HST instalment towards your 2024 GST/HST Return on or before July 31st. This instalment should be either 25% of what your net GST/HST was from your previous filing, or 25% of what you predict it will be if you predict it to be less then the year before.
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• If you have employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. In Ontario, WSIB is due quarterly, and the premiums on earnings from April 1st to June 30th are due on July 31st.
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• If you are incorporated, and you owed corporate Income Tax for your previous fiscal year, then you are required to pay installments for next year on the last day of every month. July 31st is the due date for the July Corporate Tax Installment.
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• April to June is the second quarter (Q2) of the calendar year. There may be some industry/jurisdiction specific items due to be filed and paid. Municipal Accommodations Tax (MAT Tax) is a tax that hotels and B&B's in certain jurisdictions may need to pay on July 31st regarding their Q2 incomes, for example. Do you have industry specific due dates that you need to pay, or would like included on this newsletter moving forward? Just let me know!
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• Though there are no other standard items due at the end of this month, be aware that if your Corporate Fiscal Year End is January, your Corporate Tax Return is due 6 months after your Fiscal Year end (July 31st). If your Corporate Year End is May, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of July or end of August, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation.

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My Three Favorite Resources for July!
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1. The Canadian August Long Weekend Explained: When it comes to Stat Holidays, some are Provincial, Some are Federal, and some can just be confusing. The August Long weekend/Civic Holiday is a Provincial holiday that varies from Province to Province. Paytrak put out this useful blog post that breaks down the legislation and treatment of this holiday from province to province.
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2. Rural Ontario Development (ROD) Program: The ROD Program in Ontario provides cost-share funding for projects that help rural communities. There is a branch for Community Development (Municipalities, Indigenous communities, local services boards and NFPs) and also Business Development (Small brick and mortar businesses in rural Ontario with 1 to 20 employees can apply through the business development stream. This stream offers up to 35% cost-share, to a maximum of $10,000.) This page lists criteria, information sessions, booking 1on1 coaching sessions, and much more! (Have you heard of similar provincial programs in your province? Let me know so I can share them in an upcoming newsletter!)​
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3. Telus #StandWithOwners Small Business Contest: As I was trying to find if other provinces have rural grants and initiatives, I came across Telus's Small Business Contest. Not just for rural businesses, SMBs in Canada can apply for a chance to win $200,000 in funding, technology, and exposure. Find out more here.

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What Resources have you found that have helped you start, run, or grow your business? Feature it (and a callout to your business!) in our next Resources Newsletter!

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What due dates are coming up in August?

Note that Aug 31st falls on a Sunday this year, and Labour Day is September 1st. When this happens, the CRA Deadline falls to the next business day, in this case, September 2nd for all Aug 31st noted deadlines below.

Now’s the time to prep your August Calendar! #BeThatBusiness that is organized! Here are some August due dates that might affect your business:​
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• If you have employees, August 15th is the due date for your payroll source deductions relating to July's payroll if you are a regular remitter.
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• If you have employees, then you likely are registered for provincial Workplace Insurance (WSIB/WCB). WCB in some provinces is due monthly, and on the 15th. In Ontario, WSIB is due quarterly, and the premiums on earnings from July 1st to Sept 30th are due on Oct 31st.​
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• If you are incorporated, and you owed greater than $3k in corporate Income Tax for your previous fiscal year, then you are required to pay installments for next year on the last day of every month. August 31st is the due date for the August Corporate Tax Installment.
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• Though there are no other standard items due at the end of this month, be aware that if your Sales Tax filing is monthly, July's GST/HST filing and remittance is due on August 31st. Also, if your Corporate Fiscal Year End is February, your Corporate Tax Return is due 6 months after your Fiscal Year end (August 31st). If your Corporate Year End is June, the Income Tax Payable is payable 2 or 3 months after the Fiscal Year End; either due end of August or end of September, depending on your corporation. Check in with your accountant to find out more about your corporate tax due dates specific to your corporation.

This list is not exhaustive, but, they are some of the more universal due dates that could apply to you and your business. If your fiscal year end is not December 31st, be sure to note what due dates are specific to your schedule that are not universal to the generic year ends. CRA has a reference for business due dates here.

Updates:

FABULOUS FIRST FRIDAYS @FIVE!: Looking to connect? Join my live FABULOUS FIRST FRIDAYS @FIVE open Zoom Meeting! My Monthly Open AMA Zoom Chat Session where we can connect and discuss questions regarding all things bookkeeping and business in Canada. It's a free group event where anyone can drop by to say hi and ask a question! Click here to register! Next one is Friday August 1st.

GRAND GATE GARDENS LIVE ACTION BOOKKEEPING CASE STUDY!: I'm finalizing my June 2025 source documents for the Grand Gate Gardens YouTube Live Action Bookkeeping series. June is a BIG HITTER! It's going to cover:

• Asset purchases and loan schedules
• Capital Leases vs Operating Leases
• Employee Reimbursements and Advances in QBO
• Gift Cards vs Discounts Vs Coupons
• Contra Payments (When a vendor is also a customer!)
• Utility Bill Overpayments on Account
• Confirming Vendor Statements
• POS reconciliations
• GST/HST Simplified Regime
• Filing GST/HST in QBO with carry forwards and exceptions

Over Ambitious? Maybe! But even though future source documents (after June) are going to cover all sorts of unique and challenging situations not yet covered, I really did want the full first quarter (Apr to Jun) for this GGG Case Study to cover most of what new and learning bookkeepers will come across so that they can feel more confident when they approach new files!

What's Next?: After I've finalized June 2025 GGG Case Study on YouTube, I will be offering tailored Case Study Solutions for Bookkeeping and Accounting Firms that can be used to illustrate, practice, test, and reinforce their own firm's Unique SOPs for the squishy situations, such as auto expenses, meals expense, capital leases, loans and asset purchases, owner expenses, progress payments, and many other situations that I have seen treated differently across various bookkeeping and accounting firms. Does this interest you? Reach out to me to be added to the top of the list for this unique and helpful solution for your firm!

Be Intentional Today! Get out there, and Be That Business That Thrives! ​ Naomi Wilkins ​I Love Making Bookkeeping Make Sense ​www.naomiwilkins.ca​ ​ Let's Get Social! ​ ​ ​ ​ Disclaimer: This Newsletter is intended to inform readers in general terms. It is not intended to provide any tax or business advice. Please consult your accountant if you have any questions about your unique situation. While I have tried to ensure the accuracy of the information in this newsletter, I accept no liability for errors or omissions.