Last updated: Oct. 8, 2021
Last year was different. The federal government extended the business tax filing and payment deadlines. It doesn’t look like the CRA will extend the business tax filing deadlines again this year. In fact, they’re urging you to file earlier than usual. Especially if you signed up for any COVID-19 programs for your … Read more
Last updated: Mar. 16, 2021
Reporting online day trading income? A growing number of Canadians manage their own retirement portfolio and trade online every day. When you sell a security and make a profit, you realize a capital gain. For most Canadians, the taxable capital gain is determined by multiplying the capital gain amount (profit) … Read more
Last updated: Feb. 3, 2021 The CRA has temporarily shut down its online services after thousands of accounts were compromised by cyberattacks. The attacks targeted the CRA and GCKEY, an online portal where Canadians can access services such as employment insurance and veterans’ benefits. The Canadian government says the attacks were a form of “credential … Read more
Last updated: Sep. 28, 2020 As a small business owner, you need accurate and up-to-date financial information so you can make the best decisions for your business. As your business grows and you hire employees, or take on more customers, keeping track of your business expenses and ensuring your books are accurate becomes more complex … Read more
Last updated: Aug. 31, 2020 In our last few articles we’ve highlighted elevated government spending programs and the inevitable increase in the accumulated debt to alleviate the worst economic impacts brought on by the COVID-19 pandemic. Both current and former senior civil servants, economists and at least one former prime minister are all predicting that … Read more
Last updated: Aug. 7, 2020 Former governor of the Bank of Canada David Dodge, writing on behalf of the C.D. Howe Institute while referring to the government’s financial response to COVID-19, said the right decisions were probably made at the time. However, the report also stated that the government must implement a plan to “restore … Read more
Last updated: Jul. 30, 2020 Hundreds of thousands of Canadians transitioned to working from home when the COVID-19 outbreak was declared a pandemic. If you’re one of them, you know that working from home comes with its own costs (heating, electricity, maintenance). As a small business owner, you can deduct expenses for the business use … Read more
Last updated: Feb. 28, 2020 On March 26, 2020, Nova Scotia Finance and Treasury Board Minister Karen Casey presented the province’s fiscal 2020–21 budget. The minister anticipates a surplus of $55 million for 2020–21, and a surplus of $63.2 million, $72.5 million and $74 million in the next three years. There was a general corporate … Read more
Last updated: Jan. 27, 2020 Updated: November 19, 2020 Many self-employed individuals and small business owners feel overwhelmed by the demands of tax season. They often don’t know the filing requirements established by the CRA, or how back office processes can help optimize their tax return. It’s a lot to keep track of on top … Read more