By Liz O'Dowd on May 29, 2013 
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Halifax, Nova Scotia, Ontario, May 20, 2013… The Honourable Gail Shea, Minister of National Revenue and Minister for the Atlantic Canada Opportunities Agency, today announced that Canadian families are receiving significant tax refunds as a result of the low-tax measures… {Read more}
By Liz O'Dowd on May 29, 2013 Leave a comment
Any person (individual, partnership, corporation, trust, etc.) carrying on a business must keep books of accounts and records which provide the ability to calculate taxes payable. These books and records must be supported by “source documents” which substantiate the amounts… {Read more}
By Liz O'Dowd on May 29, 2013 Leave a comment
Jim Flaherty, Minister of Finance, on May 27, 2013, urged Canadians to take advantage of the Harper Government’s new First-Time Donor’s Super Credit and donate to a charitable organization. Speaking at Lutherwood, a not-for-profit health and social service organization serving… {Read more}
By Liz O'Dowd on May 29, 2013 Leave a comment
The Bank of Canada announced on May 29, 2013, that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent…. {Read more}
By Liz O'Dowd on May 29, 2013 Leave a comment
On May 28, 2013, Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today welcomed the news that the Organisation for Economic Co-operation and Development (OECD) has reaffirmed Canada as one of the top places to live… {Read more}
By Liz O'Dowd on May 24, 2013 Leave a comment
The Apprenticeship Job Creation Tax Credit (AJCTC) is a non-refundable tax credit equal to 10% of the eligible salaries and wages payable to eligible apprentices in respect of employment after May 1, 2006. The maximum credit an employer can claim is $2,000 per… {Read more}
By Liz O'Dowd on May 24, 2013 Leave a comment
The Government of Canada today launched public consultations on the tax rules governing Labour-Sponsored Venture Capital Corporations (LSVCCs) to assist these corporations with an orderly phase-out of the federal LSVCC tax credit. The Government is replacing the LSVCC tax credit… {Read more}
By Liz O'Dowd on May 23, 2013 Leave a comment
Under some circumstances, when your employment with the pension plan provider ends, it may be possible to have your plan paid out instead of being transferred to a locked-in account, if the value in the plan is low, or if… {Read more}
By Liz O'Dowd on May 16, 2013 Leave a comment
The following graphs and tables provide statistics on the number of T1 tax returns processed at the Canada Revenue Agency (CRA) during the 2013 tax-filing season; the total number, amount, and average refund by cheque or by direct deposit; the… {Read more}
By Liz O'Dowd on May 16, 2013 Leave a comment
All proposals are subject to legislative approval. Ontario Trillium Benefit (OTB) The Ontario 2013 Budget proposes to modify the OTB so that, beginning with 2014 benefits, each recipient can choose to receive the benefit either monthly or in a single… {Read more}