Newsletter
2024 4th Quarter Newsletter
In This Issue:
- Tax Tidbits
- Corporate Tax Return Filed Late: Ability to get a Tax Refund
- Shareholder Purchasing Asset: Input Tax Credit (ITC)
- Psychotherapy and Counselling Therapy: GST/HST?
- Shareholder Loan Account: Proper Bookkeeping
- Withholding on Rent Paid to Non-Residents: Draft Legislation
- Employment Expenses: Salary to Spouse
- New Canada Disability Benefit: Proposed Regulations
- Trust Distributions: Violating Trust Terms
2024 3rd Quarter Newsletter
In This Issue:
- Tax Tidbits
- Real Estate: CRA Audit Activity
- Business Receipts: What is Sufficient?
- Crypto-Assets: Reviews and Audits
- Canada Pension Plan: Changes to Certain Benefits
- Canada Pension Plan: Timing of Starting Payments
- TFSA: Caution with Overcontributions
- Use Of Corporate Assets By Shareholder: Taxable Benefits?
- CEBA: Collection Process
2024 2nd Quarter Newsletter
In This Issue:
- Tax Tidbits
- Capital Gains Inclusion Rate: Proposed Increase
- GST/HST Returns: Mandatory: Electronic Filing
- Short-Term Rentals: Denial of Expenses
- Short-Term Rentals: Sale of Property – GST/HST Issues
- Director Liability: De Facto Director
- Motor Vehicle Allowances: Carpooling
- Unnamed Persons Requirement: Another CRA Compliance Tool
- Online Reviews: Employees Must Disclose their Connection to the Business
- Non-Profit Organization: Maintaining its Status
2024 1st Quarter Newsletter
In This Issue:
- Tax Tidbits
- New Trust Reporting: Unexpected Exposure
- Automobile Deduction and Benefit Rates: 2024 Limits Released
- T-Slips: Filing and Distribution Issues
- Personal Services Business: CRA Education Initiative
- Working from Home Expenses: Employment Expenses
- Canada Dental Care Plan (CDCP): New Income-Tested Benefit
- Farm Losses can be Restricted: May Apply Even When Significant Time
and Cash is Invested
2023 4th Quarter Newsletter
In This Issue:- Year-End Tax Planning
- 2023 Remuneration
2023 3rd Quarter Newsletter
In This Issue:
- Tax Tidbits
- CPP Enhancements: Higher Contributions and Higher Benefits
- First Home Savings Account (FHSA): A New Investment Tool
- Cryptocurrency Exchange Cessation: Recordkeeping
- Multigenerational Home Renovation Tax Credit: More Housing Support
- Disability Tax Credit (DTC): Electronic Applications
- Paying Rent to Non-Residents: Withholdings Required
- Gifts Directed to Other Donees: Loss of Charitable Status
2023 2nd Quarter Newsletter
In This Issue:
- Tax Tidbits
- Budget 2023: Top Five Items for Owners-Managers
- Underused Housing Tax (UHT): Increased Disclosures and Taxes
- TFSA: Carrying on a Business Within it.
- Unreported Capital Trades Included on a T5008: CRA Policy
- Employment Expenses for Commissioned Employee: Sponsorship
- Small Business Succession: Many Business Transfers Coming Shortly
- Employee Time Theft: Some Challenges
2023 1st Quarter Newsletter
In This Issue:
- Tax Tidbits
- Covid Benefits: Review/Audit Activity
- Unreported Real Estate Dispositions: Multiple Issues
- Employee Gifts and Parking: Updated CRA Policies
- Witness For Legal Documents: Choose them Wisely
- Canada Dental Benefit: Support for those with young children
- One-Time Top-Up to the Canada Housing Benefit: Additional Support
- Poker Winnings: Taxable or Not?
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