CRA recently noted that where a proprietor purchased a Disability Income Policy, the premium is a nondeductible personal expense. But the receipt of the disability benefits is tax-free. If a corporation acquires a Policy for the employees, the premiums are… {Read more}
Category: Small Biz Advice
First Audit Program for GST/HST
The focus of this type of Canada Revenue Agency (CRA) audit is on new businesses…
Owner/Manager Remuneration
Recently, Canada Revenue Agency (CRA) was asked whether a shareholder/manager bonus…
Should You Incorporate Your Business?
If you own a business, you may have wondered if you should incorporate…
Canada Pension Plan Basics
The Canada Pension Plan (CPP) is a contributory, earnings-related social insurance program…
Contract Doesn’t Determine Worker Status
Chances are, your business has independent contractors as well as employees…
Shareholder/Employee Loans
Settle outstanding shareholder loans and interest…
Estate Planning
There are several areas that are included in estate planning…
The CRA Goes “Green”
As a business owner, you can now receive your various statements from the CRA online…
Deductible Home Office Expenses?
In a recent Tax Court of Canada case…