Blog
How The Wage Subsidy Works
Eligible Employers (75% Wage Subsidy) Employers who are eligible include taxable corporations, individuals, partnerships consisting of eligible employers, registered charities and non-profit organizations. Employers of all sizes and across all sectors qualify except...
Canada Emergency Business Account (CEBA) Loan Applications are Opening on April 9, 2020
The Canada Emergency Business Account (CEBA) loan applications for $40,000 are opening tomorrow. These will be online applications and will be launched by all banks. Please make sure to apply through your Primary Bank only. Information Required In the...
5 Ways to Prevent Digital Fraud
Since more and more of our daily activities are going online, it has become vital that we take measures to protect ourselves from digital fraud. Scammers can target anyone from kids to retirees and even small businesses. March is fraud prevention month in Canada and...
Special Announcement – COVID-19 and T1 Checklist
In order to serve you better, under the current difficult circumstances, we are extending our virtual tax filing services to all of our clients. You will be able to use a safe online portal to upload your documents and we will be happy to review your tax returns and...
What can you Claim in Family Tax Deductions
If you’re a parent, the Canada Revenue Agency (CRA) offers a number of ways you can save money while raising your child. This is done through various tax credits and tax deductions. Deductions for Child Care Expenses You can use this deduction if you’re using daycare...
A Guide to the Basic RRSP Rules in 2020
Here are the basic rules which govern investments in a Registered Retirement Savings Plan. 1. Deduction Limits Your deduction limit will be available on your Notice of Assessment provided by the Canada Revenue Agency (CRA) after you’ve filed your annual tax return....
Deductible Dental Expenses
Did you know that most non-cosmetic dental expenses are tax deductible? Read on to find out what you can claim on your tax return. To do this you will use the Medical Expense Tax Credit (METC) and this will allow you to reduce the tax that you have to pay or have...
Tips on Making 2020 A Successful Financial Year
Here are our tips on making 2020 a successful financial year. 1. Setting Goals that Matter to You Everyone’s financial situation is different so naturally your financial goals will be different as well. Take a few minutes to ponder what you would like to achieve this...
Season’s Greetings
Merry Christmas and Happy New Year from everyone at Syed A. Raza Professional Corporation CPA, LPA. https://youtu.be/7L7dbJ1Wwcs
Claiming Startup Costs for a New Business
A startup cost can be any money or capital which you spent to get your business off the ground. For example if you’re a starting a website development company then your startup costs would include computers, desks, chairs and various software etc. If you want your...