Articles

Last week Saskatchewan Finance Minister Donna Harpauer tabled the province’s fiscal 2022-23 budget. Budget 2022 focuses on supporting the people of Saskatchewan by investing in healthcare, education, and childcare; building a strong Saskatchewan through investments in capital projects; and growing a strong economy. The government is forecasting the following deficits: $2.18 billion in 2021-22 $463 … Read more

Creating work-life balance while running a small business For refrigeration technician Rae Scott, starting a small business wasn’t about striking it rich, it was about making a decent living on his own terms, and creating that same opportunity for his employees. “It’s more the pride of ownership,” says Rae, owner of Mid-West Refrigeration Ltd. “I’m … Read more

On February 22, 2022, British Columbia Finance Minister Selina Robinson presented the province’s fiscal 2022-23 budget. B.C. Budget 2022 prioritizes making life better for British Columbians by investing in B.C.’s economic, environmental, and social strengths and taking actions to fight climate change and protect people and communities from climate-related disasters. Provincial deficits of $483 million … Read more

Last week Alberta Finance Minister Travis Toews tabled the province’s fiscal 2022-23 budget. Budget 2022 focuses on moving Alberta forward by allocating spending towards building health system capacity and getting Albertans back to work. However, the biggest revelation of Budget 2022 is the announcement of a balanced budget for only the second time in over … Read more

The Department of Finance Canada recently announced that automobile leasing and mileage reimbursement and Capital Cost Allowance (CCA) limits have increased, as of January 1 2022.  These changes reflect recent increases in the Consumer Price Index (CPI). The changes announced are summarized as follows. Capital Cost Allowance for Passenger Vehicles The before-tax CCA deduction limits for … Read more

By the time Matthew Clayton was 25 years old, he was self-employed as a rental property owner and owned up to 20 houses in Regina, Sask. He already possessed the entrepreneurial spirit and work ethic that would help him start and run the successful company he still owns today – Duke Sewer Service Inc. While … Read more

Many business owners don’t know what deductions they can claim, or how important it is to keep their personal and business finances separate. They don’t have time to keep track of all the rules and CRA regulations, so sometimes they end up making mistakes that cost them precious time, and money, once tax season rolls … Read more

A big perk of using your personal vehicle for business when you’re self-employed is writing off your motor vehicle expenses. But if you’re doing this without keeping a mileage log, the CRA could reject your claims for these expenses. The good news is that by following our advice, you can avoid CRA scrutiny and still … Read more

If you’re self-employed or a small business owner, getting ready for tax filing can be daunting. You already have a lot on your plate from running your business. And you need to keep on top of deadlines and tax changes, and hunt down your receipts, slips and other documents. We know it can be overwhelming. … Read more

The Canada Emergency Business Account, now closed for applications, provided interest-free loans of up to $60,000 to small businesses and non-profits. NEW: The repayment deadline for CEBA loans to qualify for partial loan forgiveness has been extended a year – from December 31, 2022 to December 31, 2023 – for all eligible borrowers in good … Read more