Finance, Tax, and Accounting Articles

Chrystia Freeland the Minister of Finance for Canada today released the economic statement at 4pm. The highlights are as follows; Deficit...

Federal Fall Economic Statement The 2022 Federal Fall Economic Statement will be presented on November 3rd at 4 pm E.T. The Federal...

credit card surcharges, telus surcharge, watch your statements, 2.4% maximum charge.

1993 to 2022 I have been a home office since 1993 when it was not the trend and I still am a home office in 2022. The perception used to...

The New "Canada Dental Benefit" for Those Children 12 and Under Kids under the age of 12 with a family income of less than $90,000 will...

Today is the start of September, 2022 and a bit of planning needs to happen as minimum wage is increasing on one month in Ontario....

Starting September 1, 2022, vendors and importers will need to either charge or pay the tax on any vehicles, vessels, and aircraft...

Staycation, UHT Underused Housing Tax, Teacher Supplies Tax Credit, Farmer Fuel Tax Rebate, CERB $2,000, City of Toronto Vacancy Tax,

April 7th, 2022 The Minister of Finance issued her budget today at 4pm in Ottawa, Ontario and the highlights are as follows; Lots of...

Taxes changes Canada, Ontario, Carbon Tax Increase April 1, Personal Tax Filing Deaadlines

canada digital adoption program, $2,400 grant, small business, $15,000, $15,000 grant.

Welcome to 2022 and hope you had a Happy New Year! Auto Cost Rule Changes January 1, 2022 The Department of Finance Canada announced the...

Today (December 14th, 2021) the Federal Minister of Finance has issued her economic statement /update with the following highlights;...

The Ontario government provided an update on this program that it has been extended one more year. The Ontario government is helping...

It's early December and tax planning time has come for calendar 2021. You may ask why now? The simple answer is most items in the Income...

As we approach the end of the year, 2022 changes need to be planned for. Here are some of the important changes that happen at year end...

Issued November 4th, 2021 Ontario Staycation Tax Credit Introducing the Ontario Staycation Tax Credit The government is proposing a new,...

Please note that these Regulations that were to come into force November 15 to cap the fees that disability tax credit (DTC) promoters...

Medical costs deduction in Canada since 2010 have not allowed for cosmetic procedures. The CRA had provided examples of expenses incurred...

$500 OAS Payment August 16, 2021 Canada

The law changed June 29th facilitating these transfers and the next day the government put out a statement June 30th that you needed to...

Revised December 9th, 2021 - This program has been extended to July 31, 2022. On Thursday, April 29, 2021, Monte McNaughton, Minister of...

My association has been lobbying the Federal Government to extend the tax filing deadline this year as Ontario is in lock down (see...

If you are holding any Crypto currency and you thought that no taxes would arise on your holdings when you sold them since they untracked...

The Ontario Budget was delivered today. Here is a summary of the highlights in the March 24, 2021 budget. Enjoy Peter 905-898-3355 Date:...

The next Federal Budget in Canada is April 19th, 2021 at 4pm. It has been 2 years since the last budget and it's coming within 11 days of...

The main COVIC-19 supports webpage was updated to note that Business owners can apply for support until June 30, 2021 through their banks...

On March 17, 2021, the U.S. Internal Revenue Service (“IRS”) issued IR-2021-59 whereby the U.S. Treasury Department and the Internal...

Ontario to Release the 2021 Budget on March 24th at 4pm. The Government will outline next phase of Ontario’s COVID-19 Action Plan If you...

For those that needed government help during the pandemic and have received the Canada Recovery Benefit (CRB) then you may have a tax...

A couple of tax programs to be aware of that could get you some tax money back on needed renovations for those age 65 or older that make...

Bruce Ball, FCPA, FCA, CFP on January 28, 2021 from my association has put out a good summary of the tax items that can be encountered in...

An update, the Ontario Small Business Support Grant is now open for applications. Ontario Small Business Support Grant Applications are...

I hope everyone had a Happy New Year and that 2021 is better than 2020! However, you can still do some a few items at this time of year...

This was written by another Chartered Professional Accountant member and a good read. David Prowse CPA, CA, December 15, 2020 I believe...

The government of Canada announced the 2021 automobile rates. Since most clients use kilometer reimbursement in the past that drive more...

Ontario has announced new measures to assist with business's impacted by the up coming lock down. The funds will start in January 2021...

On December 15, 2020, the CRA released details on new methods to claim home office expenses. The update includes: -New temporary flat...

The Canada Revenue Agency has announced the CPP rates for 2021. The maximum pensionable earnings under the Canada Pension Plan (CPP) for...

The government of Canada announced on October 9th, 2020 that an additional $20,000 loan would be available of which only $10,000 has to...

Today the Federal Government provided the Economic Update. Here are some interesting items to note as follows; Some Statistics That...

It's middle of November and tax planning time has come. Why you may ask? Most items in the Income Tax Act are to be completed on a...

Introduction Many new businesses and old businesses are failing in these aggressive economic times. The old saying " most businesses will...

Many people wonder whether it is better to lease or buy assets? The determination of which method is more beneficial is often difficult....

Many small businesses are under capitalized. This means that the owners have ventured into business without sufficient resources to...

The RRSP maximum for 2020 is $27,230 less PA (Pension Adjustment) (Thus, your 2019 earned income (see below) needs to be $151,278 to...

Limited Liability  In many situations the primary reason for incorporating is the advantage of limited liability. A corporation will...