Tax season is upon us in Canada, with returns due shortly. Across the country, the scramble has begun for people looking to get everything in on time. Getting your T4s, details on your investments, and all financial information from your past year is a...
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Tax preparation is a significant annual responsibility that an expert should handle. Find out our tips for working with the best tax accountants when preparing your income tax return. There are few things more important than your finances, whether personal or commercial. One of...
The new tax year is right around the corner, and after a long 2021 with many changes in the Canadian tax system, we are here to help you file your taxes on time. In 2021, Canada reported its highest inflation rate in 18 years—a...
Introduction Tax season can be an incredibly stressful time of year for Canadians. Whether you are an individual, a business owner, or a student, filing your taxes is extremely important and overwhelming all at once. Managing the streams of paperwork, the numerous classifications, and...
Background: Base on gross business income earned, home office business expenses may be deducted from business income. The business expenses that are allowed to be deducted, among other, include the prorated portion of rent, capital cost allowance, property insurance, property taxes, mortgage interest, and...
Summary : In 2005, the Canadian Revenue Agency (CRA) launched the Related Party Initiative (RPI), more commonly referred to as the High-Net-Worth Project or the Billionaire’s Audit. The objective of the RPI is to target high net worth individuals who have been identified by...
Confusion between two corporations with designating numbers is not sufficient to justify the forced intervention of one of them when the fault would only be attributable to the other. La confusion entre deux sociétés à dénomination numérique ne suffit pas à justifier la mise...
Le seul fait de demander qu’une facture soit rédigée au nom personnel d’un administrateur ne fait pas en sorte que le contrat n’est pas réellement intervenu avec la société.The sole fact that an invoice be requested to be made in the personal name of...
The execution of the work by the sole director and shareholder of the corporation does not necessarily carry his personal liability.L’exécution des travaux par l’actionnaire et administrateur unique de la société n’entraîne pas nécessairement sa responsabilité personnelle.Lemay c. Plomberie Cible X inc., 2013 QCCQ...
Yesterday, the federal government announced the implementation of various measures applied to families with children under 18 years. One such measure is the introduction of a tax credit for income splitting between spouses. This credit will allow spouses with children under 18 to share...