Any encounter with the CRA is not usually a pleasant one, and the majority of people just dread having to have any dealings with this Government department outside of completing their taxes on time. When one hears talk of tax pardons or tax amnesty then it gives a glimmer of hope that maybe having issues…
You are a small business owner in Toronto and you know you are in need of accounting services. Just what you need in this department you are not quite sure of. You want to hire a Toronto Accountant but aren’t sure whether you need a Toronto Chartered Accountant or a General Accountant. When it comes…
As a Toronto business person whether your business is old or new, small or big the most important aspect of it, is it making a profit? On a day to day basis you may start out knowing basically how much money you brought in at the end of the day. You tend to focus on…
Stop International Tax Evasion Program One of the items proposed in yesterdays budget by The Honourable Jim Flaherty, Minister of Finance, is to launch the Stop International Tax Evasion Program under which it will pay rewards of up to 15% of the federal tax collected to individuals with knowledge of major international tax non-compliance…
Do You Need to File a CPT30 Election Form On January 1, 2012 new rule changes came into place that will affect individuals and business owners who are 60 years of age and less then 70 years of age. Under the old rules once you began to receive Canada Pension Plan (CPP) retirement pension, which…
Charitable Donations Only Canadian registered charities or other qualified donees may issue official donation receipts that qualify for charitable tax credits. Canada Revenue Agency has a list of Canadian Charities called the Charities listing on their website where you can confirm if a charity is registered under the Income Tax Act and therefore eligible…
Canada Revenue Agency – New Business Landing page New Canada Revenue Agency (CRA) landing page for businesses makes it faster and easier to handle your company’s tax matters. Either yourself or your representative can file, pay, and access detailed information about your tax accounts online. The new web page can be accessed at http://www.cra-arc.gc.ca/businessonline…
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