It’s crucial to know whether your workers are employees or independent contractors.
Category: Small Biz Advice
Keep The Invoices
Improper input tax credit (ITC) documentation is one of the main reasons for GST/HST reassessments. Proper invoices to support ITCs are required by Canada Revenue Agency auditors. For example, the input tax credit may be disallowed if only the credit… {Read more}
Interest rates for the first calendar quarter
The Canada Revenue Agency (CRA) announced on December 3, 2009 the prescribed annual interest rates
Other Tax Planning Issues
Consider some of the following tax planning strategies as part of you year end tax planning
Eligible Deductions & Credits
If you pay the following expenses by December 31, 2009 they will be eligible for the deductions of credits
Contribute to Your RRSP
The most popular tax tool available to taxpayers is investing in a registered retirement saving plan
Ontario Home Energy Savings Program
Chances are your home’s leaking energy. A lot of energy and a lot of money.
GST/HST rebate for new housing purchases and substantial renovations
If you build or purchase a new home, you may qualify for a rebate of a portion of the GST/HST paid
Homeowners, don’t miss the deadline!
The non-refundable Home Renovation Tax Credit (HRTC) is based on eligible expenses for work performed
Wills and the Executor
A will specifies your instructions as to how your assets will be distributed on your death.