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Free Consultation With Sales Tax Specialists Will Help Ease Transition Back to PST

March 15th, 2013

With the Provincial Sales Tax (PST) in BC set to return as of April 1, 2013, many businesses are uncertain of how to transition back to the split federal/provincial sales tax system. To assist companies with understanding what is required of them for the switch, the BC Ministry of Finance is making provincial sales tax […]


Posted by: nalh
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BC Ministry of Finance Launches e-Tax System for Return of PST

March 1st, 2013

Businesses need to adapt their systems for the elimination of the harmonized sales tax (HST) and the return the provincial sales tax (PST) on April 1, 2013, Finance Minister Mike de Jong confirmed September 13. He said that a new e-service called eTaxBC is being developed that will benefit businesses by allowing online PST registration, […]


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Service Industry Gets Surprise Reality Check from CRA on Tips

February 20th, 2013

While many people are not aware, tips and gratuities such as those earned by restaurant servers, hairdressers and other service professionals are considered taxable income by Canada Revenue Agency. There is a myth that a server’s tips is equal to about 10% of their wage is a serious miscalculation, with most servers earning 100-200% and […]


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Tax-Free Savings Account Limit Increased to $5,500 Starting in 2013

February 9th, 2013

An additional $500 in annual TFSA contribution room can have an important impact on the amount of tax-free savings an individual can earn. Over a 20-year period, an individual can accumulate significantly more in TFSA savings than under the original $5,000 annual contribution limit. For example, as illustrated in the graph below, a middle-income saver could […]


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NALH Requires Clients’ E-File Login Information for Mandatory Electronic Filing Requirement

February 4th, 2013

A new subsection of the Income Tax Act – Section 150.1(2.3), (2.4) – sets out a regulation that requires tax preparers to file client returns via electronic filing. If this requirement is not met, the tax preparer incurs a $100 per return penalty from CRA. If we file tax returns for you as an individual […]


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Comparison of 2012 to 2013 Income Tax Brackets

February 2nd, 2013

While the federal government designates their own tax brackets and rates for federal tax purposes, provinces and territories set their own separate tax brackets and rates for provincial tax. Below, we compare the federal and provincial income cutoff points and taxation rates for tax years 2012 and 2013. The first table shows the federal personal […]


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The Return of PST

August 10th, 2012

Prior to the reimplementation of PST on April 1, 2013 all businesses will need to prepare their electronic and manual systems and processes, collect, and pay PST and GST. Because of the complexity of reverting back to PST, the government is planning the implementation in stages to ensure a smooth transition. During the transition period […]


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Small Business Group Welcomes Online Tax Tool

August 8th, 2012

The Canadian Federation of Independent Business (CFIB) is applauding a new tax tool that is now available to businesses to help them get accurate information on their taxes. Canada Revenue Agency (CRA) has launched the My Business Account for small business. The new online tool allows users to communicate electronically with CRA and get definitive […]


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Illegal Tax Protesters Pay a Heavy Price

July 25th, 2012

As two tax protesters in Manitoba and Ontario learned, avoiding payment of income taxes comes with serious consequences in the form of heavy fines and jail time. This article by Evelyn Jacks discusses the situations these tax(non)payers faced and the origin of income tax in Canada. CLICK HERE TO READ THE FULL ARTICLE >>


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Deadline Nears for US “Persons” to Report Foreign Accounts to the IRS

June 20th, 2012

DEADLINE NEARS FOR US “PERSONS” TO REPORT FOREIGN ACCOUNTS TO THE IRS By June 30, 2012, “U.S. persons” with a direct or indirect financial interest in, or signature authority over, one or more accounts in a foreign country whose aggregate value exceeds $10,000 at any time during the calendar year must file a report of […]


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Beware as Canada Revenue Agency Cracks Down on Personal Service Businesses

March 6th, 2012

While setting up a corporation may seem like a good idea if you’re self-employed, it can have serious tax consequences in certain instances. If Canada Revenue Agency determines that you are, effectively, an “incorporated employee”, it may disallow a number of business expenses as well as the small business deduction which normally applies to the […]


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BC Issues Progress Report on Return to PST

February 28th, 2012

Slowly, but surely, the BC Government is taking steps to revert back to the dual GST/PST system that was in place before HST was implemented. On November 28, 2011, the BC Ministry of Finance issued an update on the progress of the transition. According to the update, the plans established remain on schedule for completion […]


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Taxable Benefits: A Guide from the Canada Revenue Agency

February 27th, 2012

Taxable benefits are an area to which business owners should pay close attention. Many benefits which, on the surface, may not appear to be taxable actually are and it’s important to protect your business and your employees by knowing the difference. For example, a car given to an employee for business use would not be […]


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Making the Most of HST While It’s Here

December 14th, 2011

The HST (Harmonized Sales Tax) in BC has been a topic of debate since well before it was even introduced. Now that the voters have spoken and HST will be repealed, focus is turning to how to take advantage of it before reverting back to the old GST/PST system. SmallBusinessBC.ca has a great article by […]


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HST is Out – Now What?

November 4th, 2011

The ballots have been cast and the decision made. The HST in BC has been repealed. Now, the government is presented with the task of reinstating the GST/PST mode. If you’re wondering what will happen now, you’re not alone. For many BC residents and entrepreneurs, questions abound. When will PST be re-implemented? Will we continue […]


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NALH Business Solutions Ltd.
#112 - 8988 Fraserton Court
Burnaby, BC V5J 5H8
(604) 412-3885

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