Being a realtor in Ontario means many things. You are selling in one of the most fast-paced and lucrative realty markets in North America! You are selling in an economic climate that has exceeded any predictions and is growing. As is the case with many of your colleagues, you are inundated with data, paper, and […]
Category Archives: Article
Find trusted tax consultants in Oshawa for expert tax advice and accounting services. Stay informed with our latest articles on tax tips and financial insights.
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Jul
Jul
The death of a family member or a close friend, can be a difficult time. Our office is committed to making it as easy as possibly for you during this trying time by providing estate planning prior to death and setting out some tax tips for tax return filing on death. Does an income tax […]
25
Jul
Jul
A taxpayer who sells his or her “principle residence”, which is defined in the ITA, becomes liable for paying tax on the capital gains. However, the Income Tax Act (“ITA”) allows the taxpayer to claim an exemption, thereby avoiding the payment of tax on the sale of the “principle residence”. “Principle residence” generally includes: A […]
25
Jul
Jul
Guidance from Tax Partners Accountants: a York Region accounting firm specializing in privately-held and owner-managed businesses. There is one question that is often top of mind when we speak with entrepreneurs who come to Tax Partners for business advisory. That question is: “Should I incorporate my business?” If you are a small business owner confronted with […]
25
Jul
Jul
If applied in the appropriate situation, the GST/HST quick method can save business owners both tax and time. Typically, businesses can use the quick method if taxable sales (including the GST/HST and zero-rated supplies) for the business and their associates do not exceed $400,000 for the fiscal year. When using the quick method, instead of […]
25
Jul
Jul
If you are a performing artist such as an actor or a musician, the Canada Revenue Agency has special rules that pertain to you. This article covers all the details and specifies the tax write-offs or expenses(Tax Deductions) that you may be able to deduct from your income. Now that we’ve set the stage, read on… […]
22
Jun
Jun
The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from July 1, 2017, to September 30, 2017. There have been no changes to the prescribed interest rates […]
22
Jun
Jun
The Canada Revenue Agency (CRA) confirmed Monday that it will not seek leave to appeal to the Supreme Court of Canada the decision of the Federal Court of Appeal that granted BP Canada Energy Company’s (BP Canada) appeal of an order to release certain records to the CRA. The CRA believes the ability to obtain […]
22
Jun
Jun
if you are self-employed or the spouse or common-law partner of someone who is, the deadline to file your 2016 income tax and benefit return is midnight on June 15, 2017. The legislated due date for any balance owing is April 30. However, since that date is a Sunday in 2017, the Canada Revenue Agency […]
22
Jun
Jun
Do you use form RC59, Business Consent, to get online access to your business clients’ information in Represent a Client? If you do, here are three important things you should know: After May 15, to request online access to tax information for a business, you will need to complete the authorization request in Represent a Client. Form RC59 will no […]