By Peter Kupovics on March 24, 2016 
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On Tuesday March 22, 2016 the Liberal Government announced their federal budget 2016. There are changes for individuals and businesses that you should be aware of. We have included for your information a commentary on the budget and how it… {Read more}
By Liz O'Dowd on December 19, 2015 Leave a comment
2016 Indexation adjustment for personal income tax and benefit amounts Each year, certain personal income tax and benefit amounts are indexed to inflation using the Consumer Price Index data as reported by Statistics Canada. Increases to tax bracket thresholds, amounts… {Read more}
By Liz O'Dowd on December 19, 2015 Leave a comment
Do you own foreign property that needs to be reported to the Canada Revenue Agency? If so, you may be able to take advantage of a new simplified reporting method Did you know? Taxpayers who own specified foreign property costing… {Read more}
By Liz O'Dowd on December 19, 2015 Leave a comment
Annual interest rates for the first calendar quarter The Canada Revenue Agency (CRA) today announced the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts the CRA owes to individuals and… {Read more}
By Liz O'Dowd on December 19, 2015 Leave a comment
Harmonized Sales Tax Rate for Newfoundland and Labrador The proposed increase to the provincial portion of the Harmonized Sales Tax (HST) in Newfoundland and Labrador, which was to take effect on January 1, 2016, has been cancelled. As a result,… {Read more}
By Liz O'Dowd on December 8, 2015 Leave a comment
2015 Working Income Tax Benefit (WITB) The working income tax benefit (WITB) is a federal refundable tax credit which has been available since 2007, for low-income individuals or families with working income over $3,000 (base amount for most provinces and… {Read more}
By Liz O'Dowd on December 8, 2015 Leave a comment
Taxpayer relief deadline for 2005 related requests The Canada Revenue Agency (CRA) reminds taxpayers and registrants (for both GST/HST and non-GST/HST purposes) that the taxpayer relief deadline is December 31, 2015 and they have until then to make a taxpayer… {Read more}
By Liz O'Dowd on November 9, 2015 Leave a comment
Claiming false business losses results in real consequences Getting a refund after you submit your return doesn’t mean that a scheme is legitimate. The Canada Revenue Agency (CRA) can and will demand the refund be returned and penalties will be… {Read more}
By Liz O'Dowd on November 5, 2015 Leave a comment
Leave of absence Under the Employment Standards Act, eligible employees are entitled to several types of unpaid, job-protected leaves of absence. If you are protected by the Employment Standards Act, you may have the right to take unpaid time off… {Read more}
By Liz O'Dowd on November 5, 2015 Leave a comment
Federal, Provincial and Territorial Non-Refundable Personal Tax Credit Tables 2016 Personal Tax Credit Tables Do you know your personal tax credit tables? A non-refundable tax credit can only be used to reduce federal or provincial/territorial taxes payable to zero. They… {Read more}