Tax News

Tax Tips Traps – 1st Quarter 2018

ON April 5, 2018

TAX TICKLERS INCOME SPRINKLING: Where Are We Now? INPUT TAX CREDITS: Checking Up On Suppliers MARIJUANA: A Growing Industry LOANS TO A RELATIVE’S BUSINESS: What Happens When It Goes Bad? BUSINESS FAILURE: Personal Liability for Corporate Tax Debt COMMISSION PAID TO A CORPORATION: Any Issues? TAX TICKLERS…some quick points to consider… Of the approximately 28 […]

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How to Get a Refund on Your GST

ON February 16, 2018

If you operate a Canadian business and are registered for the GST/ HST, did you know that you can get back the GST/ HST paid during a given reporting period? You can, if you claim it through Input Tax Credits (ITCs) on your GST/ HST return. What are Input Tax Credits? What are Input Tax […]

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Vancouver Tax Deductions You Don’t Want to Miss

ON February 8, 2018

A commonly held view of tax season is that it is unpleasant and stressful. Certainly, that may be the case for some people, especially if they miss deductions to which they are entitled. With more than 400 tax deductions available to Canadians, there are ample opportunities for you to save, and just as many opportunities […]

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Taking charge Of Your Tax Checklist

ON January 31, 2018

There are quite a few things to consider where taxes are concerned. Keeping track of required documents, and even simply knowing what expenses are claimable or not, can be troublesome for many. The Canadian Tax system has more than 400 different credits and deductions, making it something of a challenge to know everything you are […]

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Top Year End Tax Planning Tips

ON January 16, 2018

Tax season is on the horizon, and so as we enter a new year, we are preparing to pay for the old one. Perhaps you managed to find new ways to reduce the amount you will pay, taking advantage of all your options. But maybe you forgot, or simply didn’t know all the ways you […]

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Top Ten Canadian Tax Tips for Charitable Donations

ON January 4, 2018

Many of us like to give to charity when we can because it’s a great way to help our communities and those in need. While the purpose of giving is obviously to help the recipient, it’s worth noting that there are benefits for the giver as well (aside from just making you feel good). So […]

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Contractors Vs Employees

ON December 11, 2017

> Are you considered an employee or an independent contractor? There are implications for both, so it’s important to be sure in order to avoid any surprises come tax time if the Canadian Revenue Agency (CRA) decides that you are mistaken. Independent Contractors Are Attractive to Employers Employers see certain benefits in hiring independent contractors, […]

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Tax Tips Traps – Winter 2017

ON December 5, 2017

TAX TICKLERS BUSINESS LOSS OR PERSONAL VENTURE: Can I Deduct Losses Against Other Income? GUARANTEED INCOME SUPPLEMENT: Change in an Individual’s Circumstance CHARITY FILING AND COMPLIANCE OBLIGATIONS: The CRA Has Checklists to Help DYING WITHOUT A WILL: Who Can Manage the Deceased’s Tax Affairs? OPERATING A BUSINESS IN THE U.S.: The IRS is Targeting Smaller […]

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Tax Planning Tips: What Receipts Should I Keep?

ON November 20, 2017

When someone mentions tax planning time, it often calls to mind the vision of someone preparing their return, with papers and receipts scattered all about, while fingers fly over the numbers on a calculator. Many of us think of this time of year as stressful and disorganized, but there is no reason for it to […]

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Even Barter Transactions Are Taxable

ON November 9, 2017

When watching kids trade baseball cards on the playground, one probably doesn’t immediately think of it as a business transaction. After all, it’s a simple trade. Both children give and receive, and if one child gives away three cards to receive one that he truly desires, the trade is considered fair and equal, even if, […]

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