Last updated: Mar. 28, 2024
Canada Revenue Agency Update, Effective March 28, 2024 In an update released March 28, 2024 the Canada Revenue Agency (CRA) has announced that bare trusts will not be required to submit a T3 Income Tax and Information Return along with a Schedule 15 (Beneficial Ownership Information of a Trust) for the … Read more
Last updated: Mar. 28, 2024
Alberta Budget 2024 Highlights The 2024 Alberta Budget was delivered by Finance Minister Nate Horner, on February 29, 2024. The Budget is anticipated to result in surpluses of $5.2 billion for 2023 – 2024, then $367 million in the 2024 – 2025 fiscal year, and $1.4 billion in the following year. … Read more
Last updated: Mar. 27, 2024
British Columbia Budget 2024 Highlights The 2024 British Columbia Budget was released by Finance Minister Katrine Conroy, on February 22, 2024. The Budget is anticipated to result in a deficit of $5.9 billion for 2023 – 2024, and a deficit of $7.9 billion for the 2024-2025 budget year. No corporate or … Read more
Last updated: Mar. 4, 2024
Tax season can be a daunting time for farmers and agricultural producers in Canada. Being well-prepared for tax time is important, as obligations to the Canada Revenue Agency (CRA) and tax laws can be complex. Here we provide you with a comprehensive, printable farm tax preparation checklist that lists all the … Read more
Last updated: Feb. 13, 2024
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 … Read more
Last updated: Feb. 13, 2024
You’ve been saving money for years in your registered retirement savings plan (RRSP) and now it’s time to cash in. You could take out all the money at once if you wanted, but it’s a better idea to convert the RRSP to a registered retirement investment fund (RRIF). The RRIF … Read more
Last updated: Feb. 4, 2024 Tax season can be a daunting time for small business owners in Canada. Being well-prepared for tax time is important, as obligations to the Canada Revenue Agency (CRA) and tax laws can be complex. Here we provide you with a comprehensive, printable small business tax preparation checklist that lists all … Read more
Last updated: Jan. 30, 2024 In an attempt to save money, small business owners often ask, “Can I do my own corporate taxes?” Our answer is: “Yes, of course you can!” However, it’s important to know what you are getting yourself into because DIY business tax filing can end up costing far more than hiring … Read more
Last updated: Jan. 26, 2024
If you’re self-employed or a small business owner, saving for retirement comes with a unique set of challenges, which may include: You lack access to an employer-funded savings plan. You’re putting as much of your own money into the business as possible. You’re extremely focused on the growth of your … Read more