Are There New Tax Breaks for Small Businesses in Canada?
Are there any new tax breaks in 2022 for small businesses in Canada? As of now, there are three tax-saving opportunities for Canadian businesses and contract workers to take advantage of. In this article, we are going to provide a brief overview of the three tax credits and who can apply for them. Expenses The […]
How Can I Find Out When My Business Tax Year Ends?
All businesses, whether a self-employed sole proprietorship or a corporation, follow a 12-month fiscal period. This is done to manage tax fillings and for general bookkeeping purposes. However, when this 12-month period begins, and ends is less apparent to first-time business owners. If you are in this position, this article will attempt to provide an […]
Business Taxes in 2021
This year, 2021, will be an unpredictable year for the economy in Canada due to the ongoing pandemic, the limited vaccine supply, and the varying approaches to economic recovery on both provincial and federal levels. Here are some changes to Canadian Business Taxes you can expect in 2021. Extensions and Deferrals Currently no official extensions […]
What Changes Should We Expect for BC and Federal Taxes?
Canada’s ‘COVID-19 Economic Response Plan’ has provided millions with financial relief throughout 2020. But it may be providing everyone with some extra work come tax time. With that in mind, what changes should we expect to see for BC, and federal taxes? COVID-19 Relief Measures Will Have a Big Impact on Your Taxes If you […]
When Should I File my Corporate Income Taxes in BC?
The end of the year is fast approaching and that means that tax season will be starting up shortly after the new year begins. With a new tax year on the horizon, when is the best time to file your corporate income tax? Ordinarily corporate income tax is due no later than 6 months following […]
What Is Involved in a Forensic Audit of a Charity?
With charity-scandals so often grabbing the headlines as of late, many people are wondering what measures are used to keep charitable organizations from being misused or abused. Each year, the Canada Revenue Agency audits approximately one percent of registered charities. This may take the form of a field audit at the charity’s location, or an […]
