Canada News Centre

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Small Business Deduction

The small business deduction provides a reduced rate of tax for CCPCs, for their active business income up to the business limit. The business limit is reduced based on taxable capital, and starting in 2019 will be reduced based on investment income earned in a…

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TaxTips August 2018 Newsletter

CRA vehicle expenses project; Cannabis and US travel; Students and tax; US investments and US estate tax; Voluntary disclosure program changes; Death of RRSP/RRIF annuitant; Present Value/Future Value Calculator; CPP and self-employed – late tax return; Minimum wages; Ontario taxes and benefits Click…

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Quebec 2019 Budget – March 21, 2019

The experienced worker tax credit is enhanced and renamed the Tax Credit for Career Extension; New refundable tax credit for SMBs to encourage them to hire or retain workers age 60+; Changes re refundable tax credit for reporting of tips; Digital accommodation platform operators must…

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COVID-19 Resources

We’ve assembled a page of resources including links to government and financial institution information, as well as Video Tax News information re COVID-19 measures. Information on student loans, income support for workers, and business supports. Click below to read more: COVID-19 Resources …

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Life in the Tax Lane June

This month’s video discusses: – Charitable Status – Is Atheism a Religion? – Telecommuting Allowances and Reimbursements – 10% Temporary Wage Election – Supplementary Unemployment Benefit Plans – Director Liability – Challenging the Corporate Assessment Click below to read more: Life in the…

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August 20, 2020 CERB Changes

CERB is extended by 4 weeks to Sep 26th and then replaced by three new benefits. EI is to be simplified. EI rates for 2021/22 frozen at 2020 rates. Click below to read more: August 20, 2020 CERB Changes Source: Tax Tips