If you are trying to decipher the Canada Tax laws as a business owner then you may be quite overwhelmed with the number of forms that could possibly be applicable to your business like the T2 tax form, for example. You may also be of the mind that you are pretty good with figures and had…
Perhaps as a small or new business entity you feel like you are being swallowed up in a mountain of paper. Even though you are computer savvy and you are using a ton of software for your business entity you still have a lot of hard copies of business papers to deal with. …
In general as tax payers we just accept the goods and services tax as part of the expense of the majority of the purchases that we make. If we are selling something we often don’t know if we should be charging the GST/HST and it gets confusing. To add to this there are some goods and services…
It may be that you are helping a few neighbors or friends out by providing them with daycare, and what you may not realize is that by doing so, you could be placing yourself in a self employment position that has specific tax implications. Don’t be surprised if at the end of the year…
As a member of a family quite often you can end up becoming the caregiver of another family member in need, and this can leave you with an additional financial burden. There are some tax breaks that evolve around this type of situation. If the individual you are looking after is a dependant and…
As a trades person you may not be aware that you may be able to claim some of the tools that you bought to perform your work. Even though you are an employee as a tradesperson it could be that you were required to buy a few of your own tools. You want to…
As you are now a student that is probably having to contribute financially to your education then it also may mean that you should be able to start filing your own taxes. Perhaps you have heard so many moans and groans from the older adults about this obligation that it is one you really don’t…
When it really comes down to it we know that our tax dollars or at least a small portion of them are used to benefit us. It isn’t that we mind so much putting our hard earned money into the tax coffers, it’s the way that they are utilized that really gets to us.…
A while back you will remember that there was a lot of heat created over off shore investors who were enthusiastically avoiding paying taxes on their money. The other major countries were aggressive both in their investigation and their action. The Canada government had no alterative but to try and follow suit and…
We all like to complain about having to pay taxes, but we also know there is no way out of it. Unless you of course want to sit home and just learn to live on a minimum amount of money and have no plans to get ahead in life financially. It is really unfortunate…
