Articles: Small Business Taxes

Last updated: Mar. 26, 2019  “Building on a Strong Foundation” On 26 March 2019, Nova Scotia Finance and Treasury Board Minister Karen Casey tabled the province’s fiscal 2019–20 budget.   The budget contains several tax measures affecting individuals and corporations. The budget contains no new taxes and no tax increases. The minister anticipates a surplus of … Read more

Last updated: Mar. 21, 2019 You’re Invited! Join our live webinar “Tax Season 101: Tax Tips for Business Owners” to learn more about: ✓ Important Changes for the 2018 tax filing season ✓ Tax tips for short and long term tax optimization ✓ How to avoid audit triggers that will get the attention of CRA Date: … Read more

Last updated: Mar. 20, 2019 The Right Balance! On March 20, 2019, Finance Minister Donna Harpauer delivered her second budget as Finance Minister.  The budget is balanced and anticipates a surplus of $34.4 million for 2019-20 and $49 million for 2020-21. Although the budget does not include any new changes to the corporate or personal tax … Read more

Last updated: Mar. 20, 2019 Tax Deductions You Might Be Forgetting The average small business owner in Canada pays more than 42% of their income in taxes. First off, that’s a lot of money. Second, no one wants to give more of their income to the Canada Revenue Agency (CRA) than they legally need to. Unfortunately, … Read more

Last updated: Mar. 19, 2019 On March 19, 2019, the Honourable Bill Morneau presented his fourth budget as Minister of Finance. The 2019 Federal Budget, entitled “Investing in the Middle Class”, focuses on: Making Home ownership more affordable for first-time buyers. Help workers gain new skills. Preparing young Canadians for good jobs. Helping Canadians with the … Read more

Last updated: Feb. 20, 2019 On 19 February 2019, British Columbia Finance Minister Carole James tabled the province’s fiscal 2019–20 budget. Although the budget does not include any new changes to the corporate or personal tax rates, it enhances the province’s Small Business Venture Capital Tax Credit program and introduces the new B.C. Child Opportunity Benefit … Read more

Last updated: Feb. 20, 2019 Each year, more than 1 million Canadian employers fill out more than 9 million ROE forms for their employees, according to the Government of Canada. A record of employment (ROE) is the single most important document in the Employment Insurance (EI) program. As an employer, find out what your responsibilities are … Read more

Last updated: Feb. 6, 2019 When you run a small business, one of the most important things you’ll find yourself doing on a periodic basis is tracking the amount of cash going in and out of your business – or in accounting jargon, cash flow. However, as an entrepreneur you’re to juggling many responsibilities all at … Read more

Last updated: Jan. 23, 2019 If you have employees, as an employer you are obligated to automatically deduct income tax each time you pay your employees. You are also obligated to issue T4 slips to all employees from the past year by the end of February. For your employees, the T4 slip(s) represent the entire income … Read more