In recognition of Small Business Week, the CRA is offering some tips to help entrepreneurs with filing their taxes.

Daniel Richard, Team Leader of Business Inquiries Services at the Canadian Revenue Agency says there are numerous online platforms including a free Liaison Officer service for new businesses to help them better understand their tax obligations, possible tax deductions and discuss common mistakes.

Richard says this would also apply to those who are self-employed. He says it’s important to know when deadlines are and if businesses have to pay installments, depending on the amount of taxes paid the previous year.

The CRA is reminding business owners that if they received federal or provincial COVID-19 benefits, they’re responsible for reporting the amount.

That includes the Canada Emergency Wage Subsidy, the Canada Emergency Rent Subsidy or Canada Recovery Hiring Program.

Richard says you are responsible for reporting the amount of government assistance received when you file your income tax return.

Small Business Week comes to a close today.