by adminaccountantcpa | Sep 13, 2019 | Small Businesses, Tax Information
There are certain things you need to do if you are planning to close your business. This includes notifying the Canada Revenue Agency (CRA), paying any outstanding tax amounts, filing a final tax return and financing your succession planning. You won’t need your...
by adminaccountantcpa | Sep 4, 2019 | Medical Professionals, Tax Information
Doctors and medical residents typically incur a large amount of debt when they attend school. Work for these professionals mean hectic schedules and long hours leaving very little time for financial planning. At the same time, a healthy cash flow is desirable because...
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...
