Starting Oct 16th 2017, the Federal Government declared they were reducing small business tax rates and, stepping away from their proposal to limit access to lifetime capital gains exemption – one...[...]
Changes to the GST HST Return. May 16, 2016, the Canada Revenue Agency (CRA) changed the way businesses report income information on line 101 of the GST34-3 Goods and...[...]
It is the taxpayer’s responsibility to scrutinize tax returns for missed deductions and credits. Personal income tax returns are based on the following logic– the total income from all...[...]
Until now sellers of a principal or main residence, had been able to do has they saw fit (when it came to selling and moving). There was nothing to be declared...[...]
As our population ages, the whole issue of applying and qualifying for government pensions becomes a priority for a lot of people. In this blog, we will deal with...[...]
Overall, UBER drivers are effectively independent contractors or self-employed, and therefore must self-report their taxes. Steps drivers need to be aware of include: filling out T2125 uber tax...[...]
With the arrival of spring one would think that our thoughts would turn to love. Nice but they must also turn to taxes and tax returns for the previous...[...]
With tax season upon us it’s important for taxpaying Canadians to round up all paperwork that deals with their personal tax returns and submit it to their tax preparation...[...]
Note: The children’s fitness tax credit, including the supplement for children with disabilities, has been eliminated for 2017 and later tax years as explained this CRA post. The Updated Canada...[...]
Many business owners, especially new ones, make the mistake of trying to do the books themselves or passing it on to someone who is less than qualified or trained...[...]