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The virtual world of computers really is a world of its own, and what would a world be without money? Not to worry though, because this realm has its own currency called bitcoins. If you are already familiar with them and have been doing online transactions with them, then be prepared to reveal this to…
For many tax payers they really don’t understand the legal context of what bartering is. Putting it in good old layman’s terms it simple means exchanging goods or services for other goods or services. For example, you may be an electrician, and you offer your services free to a plumber who in turn offers his…
With the aging population of Canada which is as a result of the era of the baby boomers individual Canada tax payers are reaching a point where they are being hit with a lot more medical expenses that are not covered by their Insurance plans. These out of pocket medical expenses can put a real strain on…
Almost every Canadian tax payer has at least a few small complaints about the country’s tax system but mostly it’s because nobody likes the thought of having to pay it. There are also many that really believe our system is totally unfair, and this is not only the thoughts of the business person, but personal…
We’re going to wrap our series on the CRA 12 Step Red Tape Reduction Plan by finishing off with the last 2 and final steps of this plan. For many these last two steps are going to be really important. According to the CRA our Canada Tax system for the small business person is going to…
Review of CRA 12 Step Red Tape Reduction Plan Part 8,9 and 10 While for the most part many businesses deal with the small tax related items when it comes to Canada tax which are annoying enough there are some bigger aspects that have to be dealt with by some companies. These are tax rulings.…
We are more than half way through our review of the CRA 12 Step Red Tape Reduction Plan and up until this point the proposed changes all seem to be in favor of the small business person. While they are not geared towards direct Canada tax relief they are in place to make the tax system easier…
Part 4 & Part 5 In this part of the CRA red tape reduction plan the Canada Tax department is taking responsibility for their accountability for information. This is also a welcoming change. All too often advice given by the tax department in the past has either been so vague or so complex that…
