Greetings during the 2023 tax season! We’d like to gently remind you of the following important update.
Read More “2023 Tax Season – the key updates2023 Tax Season” »
Community of Canada Accountans
Qualified Canadians who love Japanese culture or wish to leave Canada can now apply for Japan’s newly introduced digital nomad visa. Following Indonesia, Portugal, Spain, and Italy, Japan has become the latest country to launch such a visa, allowing foreigners to live and work remotely with their spouses and children for six months. Earlier this…
Read More “Guide for Canadians Applying for Japan’s Digital Nomad Visa” »
Big changes could be coming to Canada’s banking system, creating new opportunities for Canadians to control and streamline how they manage their money, but also giving rise to new cybersecurity needs. Here’s a look at what open banking, a set of financial policies adopted abroad and proposed for as soon as next year by the…
Read More “Open banking could be coming to Canada. Here’s what you need to know” »
A business investment loss (BIL) arises on the sale or other disposition, at a loss, of: An ABIL is equal to 50% of a taxpayer’s BIL (that is, an ABIL is equal to 50% of the ACB of the share, or the principal amount of the debt, minus any proceeds received on the disposition). The…
The topic of ESG has recently become very popular, and there are numerous qualifications and certificates related to ESG. Those who are interested in ESG certificates must have come across many introductions on various platforms about ESG, sustainable development, green themes, and more. ESG is a relatively new concept, and everyone is exploring it, but…
Greetings during the 2023 tax season! We’d like to gently remind you of the following important update.
Read More “2023 Tax Season – the key updates2023 Tax Season” »
The federal government’s budget deficit during the period from April to October this year amounted to 15.1 billion. In October alone, it reached 7 billion, while for the same seven months last year, the deficit was 200 million. The Federal Ministry of Finance stated in its monthly fiscal monitoring that the budget deficit of the…
Get ready, starting from next month, your net income will decrease due to increased taxes! The treatment of the Canada Pension Plan (CPP) on the personal income tax return has changed since 2019. This means that, in the case of a regular maximum contribution of $3,867.50, $631.00 will be deductible on the T1 (rather than…
As the deadline to repay pandemic loans and receive partial forgiveness approaches, small businesses are still hoping the federal government will reverse course and extend it for another year. Nearly 900,000 organizations applied for and received a Canada Emergency Business Account loan during the COVID-19 pandemic. The federal program offered up to $60,000 in interest-free…
Read More “Small businesses call for CEBA loan extension as repayment deadline approaches” »
The Underused Housing Tax Return & Payment for the 2022 calendar year – penalties (minimum $5,000 or $10,000) are now waived if filed and any tax owing is paid by April 30, 2024. More details, you could check here: UHT If you need help with UHT, you could contact us.
Some business owners have opted to explore alternatives to the Canada Emergency Business Account (CEBA) loan and have turned to Bank of Montreal (BMO) for a pre-approved Line of Credit (LOC). While this option provides them with a way to replace the CEBA loan, it comes with a higher interest rate, exceeding 14%. (BMO Prime+7.5%),you…
Read More “BMO offer Credit line for business to help pay off CEBA Loan” »