By Liz O'Dowd on June 10, 2013 
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The maximum amount you can claim for food, beverages, and entertainment expenses is 50% of either the amount you incur or an amount that is reasonable in the circumstances, whichever is less. These limits also apply to the cost of… {Read more}
By Liz O'Dowd on June 10, 2013 Leave a comment
Dartmouth, Nova Scotia, June 3, 2013… Gail Shea, Minister of National Revenue, and Minister for the Atlantic Canada Opportunities Agency, on behalf of the Honourable Ted Menzies, Minister of State (Finance), today met with business owners in Dartmouth, to highlight… {Read more}
By Liz O'Dowd on June 10, 2013 Leave a comment
Having a small business as your main source of income can often create financial challenges. If you own a seasonal business, for example, you may be trying to generate a year’s income in a short amount of time. If you… {Read more}
By Liz O'Dowd on June 10, 2013 Leave a comment
The Canada Revenue Agency (CRA) reminds self-employed individuals and their spouses or common-law partners that this year, the June 15 filing deadline has been extended to midnight on Monday, June 17, 2013, as June 15 falls on a Saturday. However,… {Read more}
By Liz O'Dowd on June 10, 2013 Leave a comment
Expanding your business usually involves dedication and hard work. Before moving ahead, consider whether you and your team are fully committed to making the effort and if your operation is ready to support growth before investing your time and money…. {Read more}
By Liz O'Dowd on May 29, 2013 Leave a comment
Wholesale sales advanced by 0.3% in March to $49.1 billion. The increase was mainly due to higher sales in the motor vehicle industry. Since May 2012, wholesale sales have been relatively flat. In volume terms, wholesale sales were up 0.1% in March. Gain led… {Read more}
By Liz O'Dowd on May 29, 2013 Leave a comment
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}