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 you’re a homeowner, are saving for your first home, or just bought your first home, there are tax incentives you should know about. These incentives could help you reduce housing costs and...
The CRA will mail the 2024 income tax package to approximately 500,000 individuals this tax season. The package will be mailed to certain vulnerable individuals who filed their 2023 tax return on...
The CRA has published the payment rates for the Canada Carbon Rebate for Small Businesses. These rates will help businesses understand the financial benefits they can expect from this program. We are...
Tax literacy means knowing how to make informed tax decisions with confidence. We are dedicated to boosting tax knowledge by helping you understand your tax responsibilities as well as the benefit and...
Canada Revenue Agency New to Canada? Take steps to boost your tax literacy In Canada, November is Financial Literacy Month — a month dedicated to helping people learn more about managing their...
The Canada Revenue Agency provides a range of federal tax credits aimed at helping your business save money. By claiming these tax credits, you can lower your taxable income or lower the amount of tax...
Are you a parent who is thinking of how to save for your child’s post-secondary education? The RESP is a long-term savings plan to help people save for a child’s education after high school...
The Tax-Free Savings Account (TFSA) program began in 2009. It is a way for individuals who are 18 and older and who have a valid social insurance number (SIN) to set money aside tax-free throughout...
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...