Tax News

Canadian Tax Loopholes

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 Reporting GST/HST Revenue

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...[...]

UBER Drivers and Taxes

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...[...]

Child Tax Credits and Deductions

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...[...]

Family Tax Cuts and Benefits for Families

Note to Readers:  For 2014 and subsequent years, Budget 2015 introduces a change to the calculation of the Family Tax Cut to allow the unused tuition, textbook and education...[...]

CPA Unification

As many of you may be aware, there are essentially three bodies of accountant that practice in Ontario: Certified Management Accountants (CMA’s), Certified General Accountants (CGA’s) and Chartered Accountants...[...]

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