Articles: Tax Preparation

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

The Department of Finance Canada announced that automobile leasing and mileage reimbursement and Capital Cost Allowance (CCA) limits have increased, as of January 1 2023.

Last updated: Dec. 7, 2022 There is no dollar that isn’t hard-earned when you work in agriculture. That’s why it’s critical to use every tool available to lower your tax burden, including tax credits. Below, we outline tax credits that may help farmers, livestock producers, and agri-businesses pay less tax, but first, let’s explore the differences … Read more

Last updated: May. 5, 2022 Last week, Ontario Finance Minister, Peter Bethlenfalvy, tabled the province’s fiscal 2022–23 budget. Titled Ontario’s Plan to Build, budget 2022 introduces measures to rebuild Ontario’s economy, support workers, build highways and key infrastructure, reduce costs on everyday expenses, and increase healthcare capacity to keep the province open. The government is forecasting … Read more

Last updated: Apr. 21, 2022 On April 12, 2022, Manitoba’s Finance Minister Cameron Friesen presented the province’s fiscal 2022-23 budget. Budget 2022 sets the path to recovery in five priority areas: healthcare, the economy, communities, affordability, and the environment. Provincial deficits of $1.4 billion for 2021-22, $548 million for 2022-23, and $440 million for 2023-24 are … Read more

Last updated: Apr. 12, 2022 On April 7, 2022, Deputy Prime Minister and Federal Finance Minister, Chrystia Freeland, tabled the federal 2022-23 budget. Budget 2022 entitled “A Plan to Grow Our Economy and Make Life More Affordable” focuses on three pillars: The Canadian People Budget 2022 outlines several actions aimed at stabilizing Canada’s turbulent housing market, … Read more

Last updated: Apr. 6, 2022 New Brunswick’s Finance and Treasury Board Minister, Ernie Steeves, delivered the province’s 2022 budget on March 22, 2022. This budget focuses on building a stronger economy and vibrant communities, while also improving health care and protecting vulnerable populations. The budget anticipates a surplus of $487.8 million for 2021-22, compared to the … Read more

Last updated: Apr. 5, 2022 On March 29, 2022, Nova Scotia Minister of Finance and Treasury Board Allan MacMaster tabled the province’s fiscal 2022–23 budget. Nova Scotia Budget 2022, is focused on: Solutions for Healthcare: laying the foundation for mental health, improving access to primary care, and investing in long-term care Solutions for our Economy: housing, … Read more

Last updated: Mar. 31, 2022 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 … Read more