Did you know that as a result of your contributions to the Canada Pension Plan and your employer’s matching contributions, the Canada Pension Plan may provide the benefits outlined below.
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Construction Contract Payment Reporting
Did you know that the payments made to subcontractors for construction services must be reported to the Canada Revenue Agency (CRA) using a reporting system called the Contract Payment Reporting System.
Padgett Nominated for Small Business of the Year
Padgett Business Services® was recently nominated for Small Business of the Year through the Kanata Chamber of Commerce.
Ontario’s Tax Package
Ontario’s new comprehensive tax package includes the Harmonized Sales Tax (HST) and a number of
Northern residents deductions
Did you know… …that if you are a resident of a northern region, you may be able to get tax relief
Tax-Free Savings Account (TFSA) vs Registered Retirement Savings Plan (RRSP) calculator
The On-line Tax-Free Savings Account (TFSA) vs Registered Retirement Savings Plan (RRSP) calculator will help you decide which type of account is better for you.
Employees vs. Independent Contractors
It’s crucial to know whether your workers are employees or independent contractors.
Claiming Automobile Expenses
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).
Registered Educational Savings Plan (RESP)
A RESP is a savings plan for post-secondary education which allows funds to accumulate on a tax-deferred basis up to certain limits.
Keep The Invoices
Improper input tax credit (ITC) documentation is one of the main reasons for GST/HST reassessments. Proper invoices to support ITCs are required by Canada Revenue Agency auditors. For example, the input tax credit may be disallowed if only the credit… {Read more}
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