f you are behind in your filing, we at ZMC Mortgage have the resources to bring you up to date as one of the services we offer. To qualify for a mortgage the lender will want a minimum of two years Notice of Assessment (NOA). If you need personal taxes as an employee, if you are self-employed (BFS) or if you run your own business, we have the means to bring all these types of tax returns up to date so you can apply for a mortgage and submit an up-to-date NOA with your application.
Lenders want to see that there are no outstanding amounts owed to Revenue Canada. If there are amounts outstanding, they will need to be brought up-to-date in order for your mortgage to be funded.
Dependent on the amount of work involved, generally each taxation year can be done within a matter of 2 – 3 hours for personal taxes. However, corporations can take a bit longer dependent on the amount of work involved for each year.
The deadline for filing personal taxes each year is April 30th. For businesses, usually 3 months after the corporate year-end. All tax preparations need to be scheduled and are currently done online, so the documentation must be in electronic format and all are signed electronically.
For more information on this service, contact us so we can help you through this process.