Last updated: Mar. 27, 2023
Saskatchewan Budget 2023 Highlights The 2023 Saskatchewan Budget was delivered by Finance Minister, Donna Harpauer on March 22, 2023. The Budget is anticipated to result in a surplus of $1.15 billion for 2022 – 2023, and surpluses of $1,017 million for the 2023-2024 budget year, and $208 million for the 2024-2025 … Read more
Last updated: Mar. 23, 2023
At tax time, we’re consumed with finding every deduction we can to lower our final tax bill. One that is commonly missed (and misused) is interest expense deductions. As a small business owner or farmer, you are entitled to deduct certain types of interest payments related to your business or … Read more
Last updated: Mar. 23, 2023
Many farm operators put bookkeeping, preparing, and filing taxes near the bottom of their to-do list. If you earn an income through farming activities though, you need to report it to the Canada Revenue Agency (CRA) on your income tax return; failing to do so could result in penalties. If your … Read more
Last updated: Mar. 22, 2023
Are you an employee or self-employed contractor? There’s a big difference, and understanding the differences between the two can have a significant impact on your income tax. If you’re working as a self-employed, independent contractor or thinking of becoming one, here are some things you should know. What is a self-employed … Read more
Last updated: Mar. 10, 2023
The list of medical and disability tax credits and deductions is longer than most Canadian taxpayers realize and it’s not difficult to miss an eligible expense or credit. The Income Tax Act offers a wide range of tax credits and deductions to persons who are ill or disabled, or support … Read more
Last updated: Mar. 10, 2023
Manitoba Budget 2023 Highlights The 2023 Manitoba Budget, titled “Historic Help for Manitobans”, was released by Finance Minister Cliff Cullen on March 7, 2023. The Budget is anticipated to result in a deficit of $378 million for 2022–2023, and deficits of $363 million for the 2023-2024 budget year, and $294 million … Read more
Last updated: Mar. 7, 2023
British Columbia Budget 2023 Highlights The 2023 British Columbia Budget was released by Finance Minister Katrine Conroy, on February 28, 2023. The Budget is anticipated to result in a surplus of $3.592 billion for 2022 – 2023, and a deficit of $4.2 billion for the 2023-2024 budget year. No corporate or … Read more
Last updated: Mar. 6, 2023
Alberta Budget 2023 Highlights The 2023 Alberta Budget was delivered by the Finance Minister, Travis Toews, on February 28, 2023. The Budget is anticipated to result in surpluses of $10.4 billion for 2022 – 2023, then $2.4 million in the 2023-2024 fiscal year and $2million in the following year. No corporate … Read more
Last updated: Feb. 28, 2023
If you’re self-employed, the Canada Revenue Agency (CRA) needs you to take an extra step when it comes to filling out your business income tax return. In addition to declaring your income and completing the T2125 (which is used to report your business and professional income and expenses), you also need … Read more