Social media has always been a great way to keep in touch with family and friends, but now it’s a convenient way to get information on taxes and on government programs. Canada Revenue Agency social media channels can help you… {Read more}
Tag: small business
Do you have to file a tax return
A tax return must be filed if: You have to pay income taxes for the year; You have not repaid all amounts withdrawn from your RRSP under the Life Long Learning Plan; You have to pay CPP because your pensionable… {Read more}
Business Owners How to Protect Your Assets
Owner-Managed Business-Creditor Proofing Every business owner should be concerned about creditor proofing his assets. Here are several suggestions to consider: Transfer assets out of the company: Place capital assets in a separate holding corporation so that subsequent legal claims that arise… {Read more}
Incorporating a business?
If you own a business, you may have wondered if you should incorporate. Historically the income tax system in Canada has benefited incorporated Canadian small businesses. Although the income and deduction calculations are almost identical to an unincorporated business, the… {Read more}
Website or Blog Advertising Income
If you have a website or a blog and you charge for advertising, links, or reviews, you must report the income on your Canadian income tax returns. Send invoices to your clients and customers. If your invoices exceed $30,000 in… {Read more}
Getting started with payroll
As part of a continuing series of videos to help small business owners, the CRA has a video on getting started with payroll for your small business
Students take note
The most common deductions that apply to students are moving expenses and child care expenses. Moving Expenses You can deduct moving expenses if you move to attend courses as a full-time student or if you moved to start a new… {Read more}
CRA Warn of telephone and email scams
Ottawa, Ontario, March 7, 2014… The Canada Revenue Agency (CRA) warns all taxpayers to beware of telephone calls or emails that claim to be from the CRA but are not. These are phishing and other fraudulent scams that could result in… {Read more}
CRA helping small businesses to get it right
Press release from Government of Canada August 26th 2014 ) – Canada Revenue Agency The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, joined by Peter Braid, Member of Parliament for Kitchener-Waterloo and Stephen Woodworth, Member of… {Read more}
File & pay on or before May 5, 2014 to avoid any interest to your 2013 income taxes
The Canada Revenue Agency (CRA) encourages you to use its quick, easy, and secure electronic services to file your income tax and benefit return on time and pay any amount owing. You have until midnight on or before May 5,… {Read more}