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Well it seems that the Federal Government is going to sink its teeth into what they call the underground economy as it relates to the building industry. The plan of attack is an investment of $118 million to fight against this. The Campaign is being called “Get It in Writing”. The government is…
The CRA has really been trying to put a lot of effort into sprucing up their relationships with small to medium sized businesses. By doing so no doubt they expected a better grade than a “C” which was given them by a collection of small businesses and those that prepare taxes. So what…
Depending on your year end, chances are your business taxes are over for another year and you just want to forget about them. The first thing to learn about tax and business is that it is something that affects you all year round, and not just at the year end. Tax is a big cost…
Now that tax time is over some of you may be thinking that you may be hearing from the CRA. At least you should be getting your assessment back. No doubt when the phone rings and the caller says they are from the CRA you are somewhat shocked. However, never having had…
There are many different sub levels in the construction industry and as such this can make the accounting responsibilities much more complicated. Most often the main construction company will hire subcontractors to fulfill various obligations of the projects that they are working on. The Main company making payments to the subcontractors has to keep…
For the average tax payer when they hear about some industry losing some of their tax benefits they really have no interest. Basically they feel that if the average tax payer has to be hit hard with taxes then so should business. The most recent hit was to the film industry, as the Ontario…
We all have grumblings and complaints about the way that the CRA handles things. Normally we think of this as a collective agency that is made of a substantial amount of agents and a variety of locations. It is important to look at the top of this government organization and keep in mind that their…
Of course no parent decides to bring children into their lives just because there may be some tax benefits from having kids. Also, these tax incentives for families with children should not go unclaimed. Yet in many cases some families do miss out on the potential tax credits that they are eligible for. This can…
