By Peter Kupovics on April 2, 2014 
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As of January 1, 2014 the EHT exemption increased to $450,000 from $400,000 of Ontario payroll, saving eligible employers up to $975 every year. This means that over 60,000 private sector employers in Ontario pay less EHT, including more than 12,000 employers that no longer pay the… {Read more}
By Peter Kupovics on March 22, 2014 Leave a comment
Did you know? If you bought a home in 2013, the Canada Revenue Agency (CRA) has a tax credit and a plan that may help you save on this purchase. First-time home buyers’ tax credit If you are a first-time… {Read more}
By Peter Kupovics on March 19, 2014 Leave a comment
Did you know? For some, filling out a tax return can be a challenge. Wouldn’t it be great to have a helping hand? Good news — if you are unable to prepare your own income tax and benefit return, you… {Read more}
By Peter Kupovics on March 15, 2014 Leave a comment
Did you know? There are lots of benefits, credits, and deductions to help families with their expenses throughout the year and reduce the amount they owe at tax time. Important facts The following tips may help you or your family:… {Read more}
By Peter Kupovics on March 11, 2014 Leave a comment
Did you know? If you want someone such as your spouse or common-law partner, a family member, a friend, or an accountant to deal with the Canada Revenue Agency (CRA) on your behalf for your income taxes, you or your… {Read more}
By Peter Kupovics on November 7, 2013 Leave a comment
In a recent Tax Alert titled “Abuse of Source Deductions and GST/HST Amounts Held in Trust” CRA warned that businesses must hold source deductions and GST/HST amounts in trust for the government. Penalties and interest and possibly personal liability for… {Read more}
By Peter Kupovics on November 1, 2013 Leave a comment
Estate planners often suggest that the RRSP/RRIF holder designate a beneficiary of the plan. There are many advantages: Probate fees can be avoided because the funds transfer direct to the beneficiary. The funds are not exposed to the liabilities of… {Read more}
By Peter Kupovics on October 25, 2013 Leave a comment
In a recent Technical Interpretation, CRA noted that an employer-provided meal allowance will not be taxable where the following conditions are met: It must be a reasonable amount; The allowance is received to cover expenses while travelling away from the… {Read more}
By Peter Kupovics on October 25, 2013 Leave a comment
Press Release from Canada Revenue Agenc – Ottawa, Ontario, October 1, 2013 The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, and Royal Galipeau, Member of Parliament for Ottawa-Orleans, participated in an event to celebrate National Seniors… {Read more}
By Liz O'Dowd on July 3, 2013 Leave a comment
Ted Menzies, Minister of State (Finance), informed Canadian consumers that the ban on unsolicited credit card cheques comes into effect June 21, 2013. As of June 21, 2013, all federally regulated financial institutions will be forbidden from sending unsolicited “promotional”… {Read more}