We found a great article on the SOHO web site about items that small businesses should keep track of in order to maximize legitimate business deductions on tax returns. See below for part of the article, then visit the SOHO web site to read the full article. Opportunities abound for small businesses to cut their [...]

CRA has produced several webcasts that will help existing GST/HST registrants and small businesses learn how to prepare for the transition to the harmonized sales tax (HST) which will replace existing provincial sales taxes and the federal goods and services tax in Ontario and, subject to legislative approval, in British Columbia beginning July 1, 2010. [...]

The provinces of Ontario and British Columbia have agreed to implement the harmonized sales tax (HST), which would replace existing provincial sales taxes and the federal goods and services tax in those provinces beginning July 1, 2010 and would be administered by the Canada Revenue Agency. The Canada Revenue Agency offers a number of informative seminars [...]

Will your clients overpay their March 15th instalment payment?  It is important that they don’t, particularly if their income has taken a hit over the past year.  Canadians taxpayers may find that due to employment layoffs or possibly due to their portfolio tanking,  overall income may have taken dropped off.  There may be a bit [...]

If you haven’t already done so, there’s still time to take advantage of the federal government’s Home Renovation Tax Credit. The temporary credit gives homeowners who spend between $1,000 and $10,000 on eligible renovations, up to $1,350 off their 2009 tax bill. It’s a great opportunity to make improvements to your dwelling and increase the [...]

Christmas brides and grooms take heed – there may be no tax benefits to marriage before year end, but that may not be a good enough reason to postpone the big day!  Conjugal relationships—legal or common law—require the combining, reporting, and sharing of financial resources under provincial marital property laws and for certain provisions of [...]

There are several changes proposed for the CPP retirement pension. The proposed changes will not affect anyone who is currently collecting the CPP retirement, disability or survivor benefits. It will also not affect anyone who starts to collect their pension prior to 2012. The proposed changes are included in Bill C-51, which passed first reading [...]

British Columbia’s transition to a Harmonized Sales Tax will be a good thing for most Penticton businesses, according to the B.C. Chamber of Commerce. Chairing a panel on the controversial new tax, Jon Garson, vice-president of policy development for the B.C. Chamber, said that the provincial chamber had been calling on the B.C. government to [...]