Good news from Ottawa: the government will provide interest relief for people who accessed COVID-19 programs last year. Anything to make your life a little less taxing right now is a win. We’ve summarized the news below and other recent COVID-19-related updates that could help you and your business. For up-to-date information on government programs, … Read more
It’s probably not news to you, but the HST, which is a combination of a 5% federal component and a 7% provincial component, will be replaced by the Goods and Services Tax (GST) and a B.C. provincial sales tax (PST) on April 1, 2013, subject to some transitional rules.
December 31 is the deadline for several important tax-management decisions. Year-end tax planning can ensure you don't lose these opportunities to keep more money in your pocket.
Most taxpayers are thankful to just having the opportunity to shelter some income in an RRSP. They usually make their once-a-year installment – immediately before the last minute deadline on March 1. Then they forget about it until the next year’s deadline rolls around. That’s way better than doing nothing, but an investment as important … Read more
Pooled Registered Pension Plans or PRPPs provide Canadians with an increased range of retirement savings options beyond CPP and RRSPs.
The Ontario Trillium Benefit started in 2012 with the first payment being sent in July. The Ontario Trillium Benefit combines the following credits into one monthly payment: 1. Ontario Sales Tax Credit
2. Ontario Energy and Property Tax Credit
3. Northern Ontario Energy Credit If you are eligible for any of these credits, … Read more
This rear-guard action was justified not only by the government’s desire to save money but also on the grounds of protecting the public.
If your farm is small and its activities don’t change much from year to year, cash accounting can be quite adequate. But if your operation is growing and you’re changing your product mix and production processes, accrual accounting can become essential in managing your business effectively.