By Liz O'Dowd on May 11, 2012 
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If you owe money to any of the tax authorities because you failed to file a return for one or more years, you can make a voluntary disclosure. You will pay only the tax due plus interest. No penalties will… {Read more}
By Liz O'Dowd on May 11, 2012 Leave a comment
If you run your own business or you are self-employed, you may be tempted to report only part of your income to the tax authorities. Or you might consider suppressing information about your activities. If you are audited by the… {Read more}
By Liz O'Dowd on April 10, 2012 Leave a comment
If you are ready to file your income tax and benefit return but have misplaced your NETFILE access code, you can visit the Canada Revenue Agency’s (CRA) Web site, enter your information, and receive your access code instantly! When you… {Read more}
By Liz O'Dowd on April 10, 2012 Leave a comment
Even if you don’t owe taxes, you should file your 2011 income tax return by April 30, 2012 to be eligible for some tax credits and benefits. Important facts Eligibility for certain benefit payments such as the goods and services… {Read more}
By Liz O'Dowd on April 10, 2012 Leave a comment
The Economic Club of Canada in Ottawa spoke about how the Economic Action Plan 2012 will leverage sustained economic growth and job creation by expanding trade and opening new markets for Canadian businesses. The Government understands that Canada’s prosperity is… {Read more}
By Liz O'Dowd on March 23, 2012 Leave a comment
If you think that paying for your employee’s disability premiums is always a good thing, think again. As a non-taxable fringe benefit, payments they receive upon their disability will be, in most cases, FULLY taxable to them! Payments received due… {Read more}
By Liz O'Dowd on March 6, 2012 Leave a comment
It’s crucial to know whether your workers are employees or independent contractors. Big dollars may be at stake in the form of Federal and provincial assessed penalties resulting from mis-classification. The validity of your company’s pension plan may also be… {Read more}
By Liz O'Dowd on March 6, 2012 Leave a comment
One of the more common expenses claimed by taxpayers are automobile expenses (applies to any motor vehicle such as van, bus, pickup truck, station wagon, SUV or other truck). Many individuals use their automobile for work or business and incur… {Read more}
By Liz O'Dowd on March 6, 2012 Leave a comment
A RESP is a savings plan for post-secondary education which allows funds to accumulate on a tax-deferred basis up to certain limits. There is no annual limit for contributions. For each beneficiary the lifetime limit on contributions is $50,000. Although… {Read more}
By admin on January 20, 2012 Leave a comment
This report provides estimates and projections of the revenue impacts of federal tax measures designed to support the economic and social priorities of the Government of Canada. The publication reflects tax relief measures from the Next Phase of Canada’s Economic… {Read more}