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As an employer you are probably well aware of your obligations for making the proper deductions from employee’s wages which in turn have to be submitted to the proper government department. These are deductions such as CPP and EI contributions as well as tax. What you may not be aware of is there…
Quite often new business owners become overwhelmed with the administrative sector of the business in regards to their new obligations as a Company to the Canadian Government. Perhaps going into the business they assumed that yes there would be tax filings to be done at the end of the year, but this would only present a week…
Most likely you have heard the term tax brackets and know that they have something to do with the amount of taxes that you have to pay each year. You may have heard some people say that they don’t want to end up in a higher tax bracket so they might not participate in…
Whether you like it or not the CRA is pushing hard for everyone to do the majority of their Canada tax dealings online. They are really intent on going paperless. This can be difficult for many individuals like seniors for example, who do not own a computer or are not comfortable using one…
As a small business owner you may fit into one of many categories. Your business may be located outside of your home, or you may be operating a home business. In either case you may be relying on one laptop for both business and personal use. If this is the case then you really need…
It is not unusual for many tax payers to be somewhat skeptic or defensive when dealing with the CRA. This is often a reaction to being a little nervous about dealing with such a body of Government that has a great deal of power over your finances when it comes to your tax obligations. It…
As an Incorporated business in Ontario you are well aware that the Company will have tax obligations. Most likely you know the basics of what these obligations are but may not be too knowledgeable as to the rate of tax your Company is being charged with. The rates for tax can change at any time however the…
Sometimes it seems like we pay so many different forms of taxes that rather than try to determine how our tax payments are allocated, we just look at the lump sum as tax in general. In general we do know that a portion of whatever we pay in the year for our tax account is…
