Blog

CRA Collections

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Make sure you pay your tax obligations on time and in full. If you are struggling to pay, there is help available.

Travel Allowances

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Structure compensation for the employment use of an employee’s vehicle carefully to ensure that any allowance received will not be taxable to the employee. A taxable assessment after the fact can create significant employee/employer issues.

CERB Repayments

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If you repaid CERB but you met certain eligibility criteria, you may be entitled to receive a reimbursement.

Accounting Software

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Starting out on your own can be a daunting task. Getting the right software for your company if you choose to do it yourself, can be a time saver. Don't waste your time (and your accountant's time) with the wrong software.

Guaranteed Income Supplement

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As many individuals had lower income in the 2020 year, some may be surprised that they are eligible to receive the Guaranteed Income Supplement (GIS). In addition, changes in July 2020 allow individuals to earn more without eroding benefits. For those who have been eligible for some time, GIS (and OAS) can be applied for retroactively (up to eleven months back).

Underground Economy

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CRA recently discussed one of their top priorities; identifying those involved in the underground economy and ensuring that they are satisfying their tax obligations. Do you fall within one of these 4 industries identified by CRA?

Taxpayer Relief Applications

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In a recent court case where the Taxpayer sought a review of CRA's denial to provide interest and penalty relief on tax debt, the courts did not agree with the taxpayer. See what they said!

Canada Pension Plan

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Have you noticed you are paying more (or longer) for CPP on every paycheque? The maximum pensionable earnings and contribution rate for 2021 have now been released and are a surprise to many; the cost of CPP is significantly increasing.

Rental Properties – Major Repairs

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In a February 11, 2021 Tax Court of Canada case, the deductibility of rental expenses for a condo unit that underwent major repairs was considered. CRA said no, but what did the courts say?