Articles

The 2013 budgets released in the Spring of 2013 brought a few changes that will affect your taxes this year and perhaps put more money in your pocket. First-Time Donor’s Super Credit If you or your spouse hasn’t claimed the charitable deduction tax credit in the past 5 years, you’re eligible for this one-time tax … Read more

You’re probably aware of the March 3, 2014 deadline for RRSP contributions to apply the deduction against your 2013 taxes, but are you aware that December 31 is also a significant date when it comes to your RRSPs? Be sure you don’t have any non-qualified investments in your RRSP If you have a self-directed RRSP, … Read more

That’s right! 2003. File For Your 2003 Taxpayer Relief Before December 31, 2013 It may be hard to remember what happened 10 years ago, but there may actually be money you’re leaving on the table that you’ve forgotten about. You have until the end of this year to make a request to the Canada Revenue … Read more

Bumper crop could increase demand for small-scale farm equipment and crop inputs. With the year coming to a close farmers have much to be thankful for as shown by a recent Statistics Canada release showing some great results from this year’s harvest. Statistics Canada reported an increase of farm cash receipts over operating costs brought … Read more

For this week’s blog post we want to highlight some tips from another great financial blog for small businesses. Kashoo, Simple Cloud Accounting, polled their community for tips and tricks that will help you dominate your fiscal year-end. Here’s a highlight of some of the tips from their blog post. Reconcile your accounts You can … Read more

Before your year-end is the time to plan for potential tax losses. If you have a losing position you can use that to offset capital gains. You must first apply a capital loss against a capital gain in the current year. Any excess can be applied against capital gains in the past 3 years or … Read more

If you hire apprentices then you could receive up to $16,500 in tax credits. Amounts vary by province. Federal – Apprenticeship Job Creation Tax Credit The Apprenticeship Job Creation Tax Credit is a non-refundable tax credit equal to 10% of the salaries and wages payable to eligible apprentices. The maximum credit an employer can claim … Read more

As a small business owner you’re faced with many rules and regulations, not just government, but also for your specific trade or profession. It can often be overwhelming trying to keep track of all the requirements. Here’s a short list of 5 things that you can be aware of to ensure you meet CRA’s requirements … Read more

With the baby boomers at or near retirement it’s nice to know that the government has some extra tax credits available. If you’re not thinking about retirement yet you probably know someone who is. Be sure to share this information with them so they don’t miss out on any of these tax savings or tax … Read more

AgriStability and AgriInvest are the backbone of federal and provincial business risk management (BRM) programs for the Canadian agricultural community. Business risk management represents fully 67% and 73% respectively of federal and provincial expenditures on agriculture in Canada. To gain some perspective on just how important these payments are to the farming community, program payments … Read more