How Real Estate Agents can Incorporate a Company
On October 1, 2020, the Real Estate and Broker’s Act includes regulations which permit the use of Personal Real Estate Corporations (PRECs). Based on the...
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Is Interest Paid on my Investments Deductible?
There is a proverbial expression that goes, “It takes money to make money”. When taken literally, this expression could be interpreted as the act of...
Read More The CRA and Automatic Tax Filings
In her 2020 Speech from the Throne, Right Honourable Julie Payette, Governor General of Canada, addressed many potential changes that may be adopted by the...
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What is Capital Cost Allowance?
Capital expenditures are distinct from current expenses. While both may be incurred for the purpose of earning income, only the latter is immediately...
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Canada Emergency Wage Subsidy Audits
COVID-19 and the Canadian government’s response to lockdown parts of the country has naturally left many businesses struggling to operate. For some...
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What is the Departure Tax?
COVID-19 has grounded many Canadians from international travel and has created unforeseen tax issues related to residency. As winter approaches, many will...
Read More The Advantages of a Holding Company
There are numerous ways in which holding corporations can be advantageous to taxpayers. As this post illustrates, holding corporations may be used to...
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The GST/HST Self-Assessment Rules
To self-assess for GST/HST means calculating how much GST/HST should be paid on a good or service where no actual sale has been completed, and to charge...
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