By Liz O'Dowd on November 12, 2014 
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Teaching taxes to students is as easy as 1, 2, 3 Did you know? The Canada Revenue Agency (CRA) has free tax and financial literacy learning resources to help educators teach their students about taxes. Teaching Taxes and Responsible Citizenship… {Read more}
By Liz O'Dowd on November 3, 2014 Leave a comment
Harper Government Creating Jobs and Growth While Returning to Balanced Budgets With Economic Action Plan 2014 Act, No. 2 October 23, 2014 – Ottawa, Ontario – Department of Finance Finance Minister Joe Oliver today introduced the Economic Action Plan 2014… {Read more}
By Liz O'Dowd on November 3, 2014 Leave a comment
The Department of Finance reports a budgetary deficit of $0.3 billion in August 2014; the Government remains on track to balance the budget in 2015 October 31, 2014 – Ottawa, Ontario – Department of Finance Finance Minister Joe Oliver today… {Read more}
By Liz O'Dowd on October 30, 2014 Leave a comment
“Soft” Loans for Your Children Parents quite often make loans to their adult children to help them purchase a car, a home, or for other reasons. A loan is different from a gift. The parent can charge interest so that… {Read more}
By karen on October 28, 2014 Leave a comment
Tips taxable income The Canada Revenue Agency (CRA) is reminding Canadians who earn tips and gratuities that they represent taxable income and must be reported on annual income tax and benefit returns. Restaurant servers, hairdressers, valets, taxi drivers, and others… {Read more}
By Liz O'Dowd on October 28, 2014 Leave a comment
Minister Findlay launches 2014 red tape reduction consultations with small and medium-sized businesses October 9, 2014 – Ottawa, Ontario – Canada Revenue Agency Press Release The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, was in Ottawa… {Read more}
By karen on October 21, 2014 Leave a comment
Save yourself the trouble — get it in writing! Before you decide to hire a contractor to do construction, renovation, or repair work on your home, ensure they are reputable and insist on getting a written contract and receipts. Be… {Read more}
By karen on October 21, 2014 Leave a comment
Remembering business-related tax deadlines just got a lot easier with the CRA’s Business Tax Reminders mobile app Did you know? While Small Business Week comes only once a year, the Canada Revenue Agency (CRA) recognizes the unique needs of small… {Read more}
By Liz O'Dowd on October 9, 2014 Leave a comment
Owner-Managed Business-Creditor Proofing Every business owner should be concerned about creditor proofing his assets. Here are several suggestions to consider: Transfer assets out of the company: Place capital assets in a separate holding corporation so that subsequent legal claims that arise… {Read more}
By Liz O'Dowd on October 9, 2014 Leave a comment
If you own a business, you may have wondered if you should incorporate. Historically the income tax system in Canada has benefited incorporated Canadian small businesses. Although the income and deduction calculations are almost identical to an unincorporated business, the… {Read more}