with Brad Berry, CPA
Are you ready to file? It is already that time of year again to get ready to prepare and file your 2020 tax return. 2020 was a year unlike any in recent memory, and the global COVID-19 pandemic lead to the Canadian government providing relief like we have never seen before. While, like any other […]
Read MoreA lot of firsts in 2020 2020 was a truly unusual year in a variety of ways, including from a tax perspective. The year came with many new acronyms, such as TWS (Temporary Wage Subsidy), CEBA (Canada Emergency Business Account), CECR (Canada Emergency Commercial Rent Assistance) and CEWS (Canada Emergency Wage Subsidy), just to name […]
Read MoreIn order “to improve the collection of beneficial ownership information with respect to trusts and to help the Canada Revenue Agency (the “CRA”) assess the tax liability for trusts and its beneficiaries” the CRA has come out with Draft legislation for new reporting rules for Trusts. The new rules are effective for year ends on […]
Read MoreEvery year CRA sends out letters requesting information on a specific line item on tax returns. Unlike prior years, this year CRA is giving advanced warning of what this will be. In an upcoming letter campaign, CRA will be asking for shareholder information on schedule 50 of the corporate income tax return where it is […]
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