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}
Category: Small Biz Advice
Business Owners How to Protect Your Assets
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}
Incorporating a business?
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}
Website or Blog Advertising Income
If you have a website or a blog and you charge for advertising, links, or reviews, you must report the income on your Canadian income tax returns. Send invoices to your clients and customers. If your invoices exceed $30,000 in… {Read more}
Getting started with payroll
As part of a continuing series of videos to help small business owners, the CRA has a video on getting started with payroll for your small business
Reduce your tax bill—increase your tax deducted at source
Did you know? If you owe tax at filing time each year, you can take steps to reduce your amount owing. You can do this by having tax or more tax deducted at source from certain types of income.td1-14e Important… {Read more}
Why you want to file a tax return
Even if none of these requirements apply, you can file a return if any of the following situations apply: You want to claim a refund. You want to claim the WITB for 2013 You want to apply for the GST/HST… {Read more}
Reducing Red Tape
Press Release from the Canada Revenue Agency Toronto, Ontario, October 25, 2013 The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, today met with business community leaders at a roundtable event in Toronto to highlight many of… {Read more}
Are you 65 or older? Claim your benefits and credits
Important information for seniors Age amount – You can claim this amount if you were 65 years of age or older on December 31, 2013, and your net income is less than $80,256. The maximum amount you can claim is… {Read more}
RESP Canada Learning Bond
The Canada Learning Bond (CLB) is part of the Canadian RESP program. Actually the CLB is a grant. The big difference between this grant and the regular RESP grants is that no contribution is required. Once you qualify, you apply,… {Read more}