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As a business, keeping your books balanced keeps you organized, prevents financial gaps and allows you to accurately plan out your future expenses. It may seem daunting or tedious, but the attention to detail will greatly impact your business. Here are 8 ways to stay on top of the accounting: Know your receivables. When you […]
Read MoreFor new, or even experienced, investors — a rocky, volatile market can be daunting. If you’re wondering where to start or where to go from here, we’ve compiled a few tips for continuing to build your investment portfolio during difficult times. Don’t stop saving! The most important thing you can do is continue to put […]
Read MoreIn the words of the OECD: “Tax transparency is about putting an end to bank secrecy and tax evasion through global tax co-operation”. All us accounting geeks out there know that the CPA profession has publicly stated that it supports transparency of the beneficial ownership of corporations to create a national framework for whistleblowing and […]
Read MoreIt used to be every year the federal government would deliver a budget, until last year. Yes, on April 19th, for those of you that missed it, the Federal government delivered their first budget in over two years.
Read MoreSurvey says A recent study by CPA Canada revealed that one in three Canadians are concerned about the impact of COVID-19 on their personal finances, with 21% revealing they plan to retire later due to the pandemic. A separate survey by Ryerson University and the National Institute for Aging (NIA) discovered that 91% of Canadians […]
Read MoreAlthough the tax deadline was extended last season, this year we’re back to the Friday, April 30 deadline. If you’re self-employed or have a spouse or common-law partner who is, you have until Tuesday, June 15 to file (though taxes owing must still be paid by April 30).
Read MoreIn December, we looked at the new Federal trust filing and disclosure requirements that are being rolled out this year. In a similar vein, some provinces are seeking to implement additional disclosure requirements with a view to increasing taxpayer transparency. This month, we will be taking a look at British Columbia’s newly enacted Land Owner […]
Read MoreAre 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 […]
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