by adminaccountantcpa | Sep 2, 2019 | CRA, Tax Information
This project aims to review your corporation’s vehicle expenses. If you haven’t received a letter from the CRA then expect to get one soon. Here’s what you need to know. What is the goal of the project? The main goal of this project is to deny non-allowable automobile...
by adminaccountantcpa | Apr 18, 2019 | Audit, Small Businesses
There are three types of reports that can accompany a business’s financial statements. The purpose of these reports is to assure the reader that the statements are free from material misstatements. These are An Auditor’s ReportA Review Engagement ReportA Notice...
by adminaccountantcpa | Apr 4, 2019 | Audit, CRA
Paying attention in the following areas can decrease the risk of getting an audit notice from the CRA. 1. Being Outside the Normal Range What this means is that the CRA has extensive information on the income of various businesses. So if you declare income that is...
by adminaccountantcpa | Mar 27, 2019 | Tax Information
Here is a summary of some of the changes announced in the Federal Budget which was presented on March 19, 2019. 1. Interest Rates and Repayments for Canadian Student Loans In 2019-2020, the interest rate on Canada Student Loans will be lowered to Prime while the fixed...
by adminaccountantcpa | Mar 14, 2019 | Retirement Saving
Previously the Old Age Security (OAS) benefits were automatically paid to eligible recipients when they reached 65 years of age. In 2013 the government gave recipients the option of deferring these payments for up to 5 years. This results in an increase in the monthly...
