Have you recently incorporated your business? Do you provide services to one other company? You might be considered to be operating a personal services business (PSB) by the CRA. This means your tax obligations are different than other corporations!
Check out the CRA’s fact sheet on PSBs! It’s intended to help you better understand your reporting and filing obligations, as well as your tax rate and what you can and cannot deduct as a PSB.
Whether it be a threat from external bad actors, or taxpayers willfully submitting fraudulent returns, the CRA is standing on guard. Protecting taxpayer accountsIn today’s increasingly digital world...
Times are tough and despite the government’s efforts to support individuals with housing costs, the cost of living and homeownership continue to rise. Addressing affordability is essential to ensure...
The Canada Revenue Agency (CRA) will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust) for the...
This Small Business Week, the Canada Revenue Agency (CRA) is celebrating the dedication and impact of small business owners— the heart of our communities. The CRA is here to make tax filing easier, so...
Charlie is a chatbot available on the Canada.ca/CRA webpage, designed to assist with questions related to business and tax matters. Between January and June 2024, Charlie handled over 1.1 million...
The Canada Revenue Agency (CRA) would like to highlight new information about the Canada Carbon Rebate for Small Businesses, a refundable tax credit designed to support small and medium-sized...
Are you saving for a car or a dream vacation? A TFSA is a great way to save tax-free. The TFSA is a way for individuals who are 18 and older and have a valid social insurance number (SIN) to save...
Using an app or website to earn income? Here’s what you need to know about the Reporting Rules for Digital Platform Operators You may be affected by Canada’s new Reporting Rules for Digital...
Post-secondary education can be expensive. Save for your child’s future by contributing to a registered education savings plan (RESP). RESP is a tax-deferred investment designed to help people save...