Justyn

Disability Tax Credit Clarifications

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In an April 3, 2019 Tax Court of Canada case, at issue was whether the impact of an individual’s mental impairment entitled her to the disability tax credit (DTC). There are three main criteria taxpayers must meet to qualify, do you know them?

Sharing Economy – New Changes

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Share Economy - What is it, who it affects, and what can you do about it if you drive for Uber or rent for Airbnb

Zero Emission Vehicle Incentives

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Transport Canada released details on the purchase incentive of up to $5,000 for zero-emission vehicles as originally proposed in the 2019 Budget. Do you meet the criteria?

Special Work Site Allowances

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CRA recently discussed the criteria for tax-exempt allowances for board and lodging received for periods an employee was working at a special work site. Does this affect you?

CPP and EI Changes

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Both employees and employers will be required to contribute more to CPP, but, retirement, survivor, and disability pensions will also increase. Are you prepared for the changes? We offer payroll packages at affordable rates. Contact us to find out more details!

Carbon Tax

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As of April 1, 2019, a federal carbon tax is scheduled to be imposed in respect of Ontario, New Brunswick, Manitoba, and Saskatchewan. Other provinces have some form of this already in place. This may affect your business more than you know; reach out to us to see how you can mitigate any loss in income.

Accelerated Depreciation

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Recent changes to the 2019 tax year include immediate full depreciation in respect of manufacturing & processing assets, along with clean energy generation and storage assets. Also, an enhanced first year depreciation claim is now available for most other depreciable assets. Should you do the Accelerated Depreciation or stick to the old method?

Travel Expenses: To and From Work

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Travel from home to a regular place of employment is usually a personal expenditure, the costs of which cannot be claimed as an employment expense. There are exceptions to this... Contact us to see if you may qualify!

Childcare Costs

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If there are recreation or education components to your childcare costs, then you may be able to claim the full amount on your tax return.