In addition to fitness programs covered by the children’s fitness tax credit, parents can now claim money spent on programs that focus on fine arts, music, performing arts, outdoor wilderness training, learning a language, studying a culture, tutoring, and more. When parents claim the children’s arts tax credit – up to a maximum of $500 [...]

Although it doesn’t seem to be widely publicized, Shaw offers significantly lower prices on their cable, internet and home phone services for full-time post-secondary students who live on their own. We came across an article on the Young and Thrifty blog in which the author details how she went about getting signed up for the [...]

Another tax year has come and gone, though it seems hard to believe it’s that time of year again already! Please be mindful of the following deadlines related to contributions to RRSPs, distributing T4 slips, along with filing deadlines for 2011 tax returns for individuals and self-employed persons. RRSP Contribution Deadline February 29, 2012 is [...]

Most of us would like to send less of what we earn to the Canada Revenue Agency and keep more of it in our own pockets. One thing that can be done to reduce tax liability is to file for any tax credits that may be applicable to your situation. The Knowledge Bureau shares tips [...]

Beginning October 1, BC residents will have access to a new small-appliance recycling program called UnPluggedBC. This new program will allow drop-off of most small appliances for recycling, redirecting lots of items that would otherwise end up in BC landfills. Visit the UnPluggedBC web site for more information on drop-off locations and accepted items. CLICK [...]

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 The HST in BC has been repealed.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 [...]

British Columbia’s general minimum wage will rise by 75 cents on Tuesday to $9.50 an hour, while the minimum wage for liquor servers will increase to $8.75. By next May, the minimum wage will rise to $10.25 an hour. “When workers have more money in their pockets, they are in a better position to support [...]

Together, the Canadian and British Columbia governments have sponsored the Aspect Targeted Skills Shortage program. The initiative bestows up to $7,500 per employer to provide workplace-specific training to eligible employees, to a maximum of $1,500 per employee. The program is a great chance for employers to support educational opportunities for staff members who have a [...]

Seeking investors is one way to take your business to the next level. But, are you ready? The Dale Carnegie Business Group featured a great article in their Monday Morning Mentor newsletter about how to know if your business is ready to take on investors. Whether you are getting the business ready to sell, sell [...]

See below for a message from Jason McLean, Chairman of the Vancouver Board of Trade on why he believes keeping the HST is beneficial for business in BC. ================================================== MESSAGE FROM THE CHAIRMAN of the VANCOUVER BOARD OF TRADE Support the HST The HST Referendum begins this week. You will receive a ballot by mail [...]

BC’s Harmonized Sales Tax (HST) has been a hot-button issue since it was initially proposed and even more so after it was brought into effect. The HST has been so controversial that petitioners were successful in their efforts to have a referendum by BC voters on whether to rescind the tax and revert back to [...]

June 15th, 2011 is the tax filing deadline for the self-employed and their spouses and common law partners; it is also the date the second quarterly instalment payment is due for some taxpayers. These are important milestones for compliance and wealth planning purposes and the following are tips offered by The Knowledge Bureau for maximizing opportunities [...]

If your company is not up-to-date with its HST filings with CRA, you could be facing serious penalties and/or an audit. The best way to steer clear of the wrath of CRA is to file on time and pay any amounts owing by the due dates. If you’re filing your own HST returns, it’s important [...]

If you or your spouse or common-law partner did business as a sole proprietor or if you have business income in addition to any money you earned as an employee of a company, the deadline for filing your tax return is on or before June 15, 2011. CLICK HERE FOR MORE INFORMATION ON THE CRA [...]

As the saying goes, time flies and another tax year has come and gone. Check out CRA’s web site for important tax filing deadlines, including the following: INDIVIDUALS – on or before April 30, 2011 SELF-EMPLOYED PERSONS – on or before June 15, 2011 Please note that any tax owing is due on or before [...]