The Canada Revenue Agency (CRA) announced on May 21 that on May 15, 2013, Douglas W. Gray of Mississauga, Ontario, pleaded guilty in the Ontario Court of Justice in Toronto, to a total of 10 counts of failing to file… {Read more}
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Canadian Families Receiving Record Tax Relief
Lisa Raitt, Minister of Labour, accompanied by Rick Norlock, for Northumberland—Quinte West, attended a children’s dance competition today at the Cobourg Highland Games to promote the Children’s Arts and Fitness Tax Credits. Minister Raitt highlighted that the Children’s Fitness Tax… {Read more}
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Canada Pension Plan Basics
The Canada Pension Plan (CPP) is a contributory, earnings-related social insurance program. It ensures a measure of protection to a contributor and his or her family caused by the loss of income due to retirement, disability and death. There are… {Read more}
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Employment Insurance Benefits for Self-Employed People
Self-employed Canadians are able to voluntarily access Employment Insurance (EI) special benefits. There are four types of EI special benefits: Maternity benefits (15 weeks maximum) available to birth mothers. It covers the periods surrounding birth. A claim can be submitted… {Read more}
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Line 8523 – Meals and Entertainment
The maximum amount you can claim for food, beverages, and entertainment expenses is 50% of either the amount you incur or an amount that is reasonable in the circumstances, whichever is less. These limits also apply to the cost of… {Read more}
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Government Takes Additional Steps to Help Small Businesses Prosper
Dartmouth, Nova Scotia, June 3, 2013… Gail Shea, Minister of National Revenue, and Minister for the Atlantic Canada Opportunities Agency, on behalf of the Honourable Ted Menzies, Minister of State (Finance), today met with business owners in Dartmouth, to highlight… {Read more}
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Becoming a Multipreneur
Having a small business as your main source of income can often create financial challenges. If you own a seasonal business, for example, you may be trying to generate a year’s income in a short amount of time. If you… {Read more}
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June 17, 2013, is the deadline for Self-Employed to File their 2012 taxes
The Canada Revenue Agency (CRA) reminds self-employed individuals and their spouses or common-law partners that this year, the June 15 filing deadline has been extended to midnight on Monday, June 17, 2013, as June 15 falls on a Saturday. However,… {Read more}
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Things to Consider before Expanding your Business
Expanding your business usually involves dedication and hard work. Before moving ahead, consider whether you and your team are fully committed to making the effort and if your operation is ready to support growth before investing your time and money…. {Read more}
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Wholesale trade, March 2013
Wholesale sales advanced by 0.3% in March to $49.1 billion. The increase was mainly due to higher sales in the motor vehicle industry. Since May 2012, wholesale sales have been relatively flat. In volume terms, wholesale sales were up 0.1% in March. Gain led… {Read more}