Personal Tax Guide 2024
Personal Tax Guide 2024 Canada’s personal tax filing process is an annual requirement for ...
Construction Mortgage
What is Construction Mortgage? Construction Mortgage as the name goes is a type of mortgage that ...
Planning to Buy Commercial Real Estate?
Planning to Buy Commercial Real Estate? Are you planning to buy Commercial Real Estate? But, not ...
LICO 2024 – Income Requirements for Immigration and Super Visa
LICO 2024 – Income Requirements for Immigration and Super Visa In order to sponsor your ...
Business Purchase Financing
Business Purchase Financing Program Business purchase financing refers to the various methods and ...
CEBA Repayment Options (Important Update)
CEBA Repayment: Important Update This is an important update regarding the Canadian Emergency ...
Revival of a Corporation: Tax Collection
Revival of a Corporation: Tax Collection A June 12, 2023 Court of King’s Bench of Alberta case ...
Businesses Purchasing from Non-Residents: GST/HST?
Businesses Purchasing from Non-Residents: GST/HST? Certain non-resident vendors are required to ...
Enhanced GST Residential Rental Rebate
Enhanced GST Residential Rental Rebate: Increased Incentives On September 14, 2023, the ...
CEBA Repayment Deadline Extended: Some Issues
CEBA Repayment Deadline Extended: Some Issues On September 14, 2023, the Department of Finance ...
Gifts Directed to Other Donees: Loss of Charitable Status
Gifts Directed to Other Donees: Loss of Charitable Status In some situations, a registered charity ...
Paying Rent to Non-Residents: Withholdings Required
Paying Rent to Non-Residents: Withholdings Required In a March 30, 2023 Tax Court of Canada case, ...
Disability Tax Credit (DTC): Electronic Applications
Disability Tax Credit (DTC): Electronic Applications The DTC is a non-refundable tax credit that ...
Multigenerational Home Renovation Tax Credit: More Housing Support
Multigenerational Home Renovation Tax Credit: More Housing Support The multigenerational home ...
Cryptocurrency Exchange Cessation: Recordkeeping
FIRST HOME SAVINGS ACCOUNT (FHSA) : A NEW SAVINGS TOOL A June 7, 2023 CryptoTaxLawyer.com article ...
First Home Savings Account (FHSA): A New Investment Tool
FIRST HOME SAVINGS ACCOUNT (FHSA) : A NEW SAVINGS TOOL The tax-free FHSA was introduced in 2023 to ...
CPP Enhancements: Higher Contributions & Benefits
CPP ENHANCEMENTS : HIGHER CONTRIBUTIONS & BENEFITS In 2019, the government commenced a two-part ...
TFSA: Carrying on a Business Within It
TFSA: Carrying on a Business Within It Earnings in a TFSA are typically not taxable. However, ...
Digital Adoption Program: Grants, Loans & Professional Assistance
Digital Adoption Program: Grants, Loans and Professional Assistance On March 3, 2022, the Canada ...
Money Received from Abroad: CRA Reviews
Money Received from Abroad: CRA Reviews As of 2015, financial institutions must report electronic ...
Estimated Sales by CRA
Estimated Sales by CRA: Audit File Selection & Assessment In an attempt to identify unreported ...
Auditing Old Tax Returns
Auditing Old Tax Returns: CRA Abilities and Limitations CRA may reassess the tax returns for CCPCs ...
Principal Residence Exemption: CRA Project
Principal Residence Exemption: CRA Project In early 2022, CRA began to send out education letters in ...
Buying and Selling a Home: Budget 2022 Proposals
Buying and Selling a Home: Budget 2022 Proposals The 2022 Federal Budget included several proposals ...
Special Educational Needs – Catch Up Payments
Special Educational Needs – Catch Up Payments You can get financial support to help with the costs ...
Old Age Security (OAS): Clawback Planning
Old Age Security (OAS): Clawback Planning Individuals who normally receive OAS are occasionally ...
Expanded Access to Tax Credit for teachers
Teachers & Early Childhood Educators: Expanded Access to Tax Credit The eligible educator school ...
Income requirements to Sponsor Parents & Grandparents
How much income do I need to sponsor my Parents & Grandparents for PR in Year 2022 (LICO 2019 to ...
Corporate Advertising and Promotion Expenses: CRA Increasing Reviews
Corporate Advertising and Promotion Expenses: CRA Increasing Reviews Over the past few years, CRA ...
Falsified Employment Records: The Penalties Can be Large
Falsified Employment Records: The Penalties Can be Large With numerous COVID-19 benefits being based ...
Small Business Air Quality Improvement Tax Credit
Small Business Air Quality Improvement Tax Credit : Could Your Business Benefit? The December 14, ...
TFSA Annual Limit, Climate Action Incentive
TFSA Limit, Work from Home, First time home buyers, Climate Action Incentive Some quick points to ...
Phone Text Scam – A New Normal in Canada?
Phone Text Scam – A New Normal in Canada? Victims Should Call Police Immediately! A new phone ...
COVID-19 Business Supports: Targeted Measures
In the Fall of 2021, the government revised several business supports provided due to the COVID-19 ...
COVID-19 support measures to create jobs and growth
Government Announces targeted Covid-19 support measure to create jobs & growth With one of the ...
Ontario COVID-19 Child Benefit
Ontario COVID-19 Child Benefit April 26 Onward, get $400 – $500 as Covid-19 Child Benefit. It ...
Highly Affected Sectors Credit Availability Program
WHAT IS HASCAP LOAN PROGRAM? The HASCAP Loan Program is a Canadian Government loan guarantee that ...
$200 SUPPORT FOR LEARNERS
Get $200 Support for Children, Youth and Students in their continued learning during the ...
Canadian Emergency Rent Subsidy (CERS)
Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue due to ...
Xero Accounting
What is Xero Accounting Xero is an online accounting software for small business owners and their ...
CEBA Expanded With $20,000 More
CEBA EXPANDED WITH $20,000 MORE In an effort to continue to support businesses that have been ...
CEBA – Tax Treatment for Forgivable Portion
CEBA-TAX TREATMENT FOR FORGIVABLE PORTION While its important to get the loan under Canada Emergency ...
How to return CERB?
You have few options to return the CERB payment Online by CRA My Account ...
Canada Recovery Caregiving Benefit (CRCB)
The new Canada Recovery Caregiver Benefit, would be effective from September 27, 2020 for one year, ...
Canada Recovery Sickness Benefit (CRSB)
Canadian Government to provide $500 per week for up to two weeks, for workers who are sick or must ...
Canada Recovery Benefit (CRB)
Canada Recovery Benefit (CRB) – Starting September 27 The Government of Canada would provide ...
Residential or Commercial Property?
There are several notable differences between residential and commercial real estate. Residential ...
Phase – 1, 2 & 3 in Environmental Due Diligence
An increasing number of people are getting involved in buying and selling property, much of which ...
Due Diligence in Commercial Real-Estate
Real estate is a rising industry in Ontario, and we should be extra careful about the properties ...
Patent & Latent Defects in Real-Estate
THE IMPORTANCE OF AN INSPECTION WHEN PURCHASING PROPERTY Unfortunately, the word of the seller may ...
How to Reboot Business in the wake of Covid-19?
The era of COVID-19 has been historic and unprecedented. With the shutdowns of millions of ...
How to Evaluate a Business That’s for Sale in Canada
Purchasing a business in Ontario, is usually a quicker process compared to starting up one from ...
All You Need to Know About Buying a Business
Owning and running a business in Ontario or anywhere else in Canada can be quite a rewarding ...
10 Key Indicators You Should Sell Your Business
Running a business is not always an easy task. Like any other aspect of your life, it has its ups ...
How to Improve Your Credit Score in Canada
The reality of living in Canada is that you need good credit. Major purchases like a car or a house ...
Canada Emergency Wage Subsidy (CEWS)
Canada Emergency Wage Subsidy (CEWS) is an initiative by Government of Canada under Canada’s ...
What is Mortgage Deferral?
Mortgage Payment Deferral is a phenomenon in which you and your creditor agree upon deferring your ...
What is a Lease to Own Financing?
Lease to own financing is a great alternative for traditional loans where credit analysis for risk ...
Incorporating Your Business
Startups, Sole Proprietors or Partnerships benefit immensely from Incorporating their Businesses. ...
Canada Emergency Student Benefit (CESB)
Canadian Students, post-secondary & recent graduates, who have lost their source of income or ...
Pay Your Personal Tax Via Online Banking
You can use Online Banking to Pay Taxes to the Canada Revenue Agency (CRA). One can do this by ...
How to Pay your Business Taxes Online?
Businesses can pay their Taxes to Canada Revenue Agency (CRA) via Online Banking to make it faster ...
Temporary 10% Wage Subsidy
The Temporary 10% Wage Subsidy is a Three-Month Tax Program (March 18, 2020-June 19, 2020) that’s ...
New Wage Boost for Essential Workers
The New Wage Boost for Essential Workers is a financial support program for low-income part time and ...
Canada Emergency Response Benefit (CERB)
Canada Emergency Response Benefit (CERB) is Government of Canada’s initiative to support affected ...
Canada Small Business Financing Program (CSBFP)
The Canada Small Business Financing Program (CSBFP) is a part of the Canada Small Business Financing ...
Canada Emergency Business Account (CEBA)
Canada Emergency Business Account is a $25 Billion Relief Fund created by Government of Canada to ...
What is T4 Slip, issued by Employer?
‘T’ stands for Tax Slip and ‘4’ is number assigned by Canada Revenue Agency ...
Fraud Alert – Tax Collection Calls
I would like to share very important information with you. Some people are receiving fraudulent tax ...
Tax tips for Post-Secondary Students
Government has tax credits, deductions, and benefits to help students. All you have to do is file ...
Steps to your Credit Repair
STEPS TO YOUR CREDIT REPAIR Whether you have been Bankrupt, in a Credit Proposal, Under Collection, ...
The Five C’s of Credit
When lenders are evaluating a loan request, whether it be a mortgage or a car loan the principles of ...
Good profits but no money in Bank? Why?
Small business owners wonder they work hard, make good profit but there is no money in the bank and ...
CRA to expand EFT audits in 2017, PwC warns
The next two years will see an expansion of the Canada Revenue Agency’s efforts to review ...
What to expect after filing your Personal Tax Return
Tax Filing is always stressful. After you have filed your tax return, you may be wondering what to ...
Pay CRA Tax at Canada Post by Cash or Debit Card
You can pay your Individual tax, Benefits and credits repayments, Part XIII – non resident ...
Get your Credit Report: Equifax
Check your credit report and score regularly. Equifax reports are widely accepted for mortgage and ...
How to keep your credit healthy
If you have applied for credit, you should have a credit file at credit bureaus. There are two main ...