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 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 | Feb 26, 2019 | Medical Professionals, Tax Information
Here are some of the main tax measures which will affect the 2019 tax returns of physicians. 1.Decrease in Small Business Tax Rate As we all know, the Federal small business tax rate decreased from 10% to 9% causing the combined Federal and Ontario small business tax...
by adminaccountantcpa | Dec 17, 2018 | Tax Information
Having a Tax-Free Savings Account is a great way to invest and earn interest income. However, as with other investment vehicles, there are some tax implications in case of sudden demise of the owner. Here’s a short video explaining some of the more important...