Call us Now: 1.800.343.6133
Are you using a motor vehicle to earn business income? Wondering how to claim your business tax deduction? In fact, numerous small business owners ask the same questions that you do. Questions such as: What kind of vehicle expenses can be claimed? Can the type of vehicle I own affect deductible expenses? How should I ...
As of December 15, 2011, Bill C-13, otherwise known as Keeping Canada’s Economy & Jobs Growing Act, was officially enacted. According to Jim Flaherty, Minister of Finance, the act includes key elements of the Next Phase of Canada’s Economic Action Plan – A Low-Tax Plan for Jobs and Growth, and supports the strongest job growth ...
Learn more about Canada’s Plan for Growth – New Tax Measures to Look out For »
Are you moving in order to start a new job or business? Leaving home to pursue a post-secondary education? Relocating can be both an exciting and stressful event in your life. With so much on the mind– packing, moving, a new adventure, and the costs associated with all of this, taxes are often the last ...
Learn more about Deducting Moving Expenses from Taxable Income »
Canadian tax laws and filing requirements are based on residency. If you live or reside in Canada you are required to file a Canadian tax return. The tax system in the United States; however, is based not only on residency but also on citizenship. This means that if you are a U.S. citizen you are ...
Importance of Filing Returns on Time When returns have not been filed with Canada Revenue Agency (CRA) on time, eventually you can expect to hear from them with a request to file your returns. Ignoring these requests long enough will usually result in an arbitrary assessment of CRA’s estimates of your income and tax payable. ...
Learn more about The Importance of Filing Tax Returns on Time »
What have fruit fallen from trees and income taxes got to do with each other? Well, not much at first glance, but there IS a connection. In common law, when a neighbour’s tree drops fruit or nuts on your land, they belong to you, not the neighbour. By analogy, when a taxpayer receives certain types ...
Many people find Canada Revenue Agency’s instalment payment arrangements confusing. They get a letter saying they need to make an instalment payment after they have already paid their income tax bill, and don’t understand why CRA is asking for more money, since they have already paid. In fact, it is because you had to pay ...
With tax season approaching, anyone who anticipates a tax refund should be gathering all information together to bring into their accountant so that their taxes can be filed as soon as possible. Canada Revenue Agency will normally start processing tax returns around mid February, so returns cannot be electronically filed before then, whilst paper returns ...
Canada Revenue Agency has now announced that they expect to start auditing taxpayers based on information from eBay at the end of summer 2009. CRA recently won a case in the Federal Court of Canada requiring eBay Canada to provide the names of eBay sellers as well as their contact information and sales records. What ...