The Canada Revenue Agency (CRA) has announced several important updates for 2025. These changes reflect inflation adjustments and policy updates, impacting tax brackets, contribution limits, and benefits. Here’s what you need to know to plan your finances effectively....

Working from home is increasingly common, and claiming home office expenses on your taxes can help offset associated costs. To ensure you maximize your deduction without running afoul of tax regulations, follow these updated tips: Understand Eligibility Criteria To...

When it comes to spa services in Canada, understanding taxes can make a difference in how much clients pay and what businesses need to track. The tax treatment for spa services varies by province and depends on factors like service type, location, and tax regulations...

In a recent announcement, Nova Scotia’s Finance and Treasury Board shared that the province will reduce its Harmonized Sales Tax (HST) rate from 10% to 9% starting April 1, 2025. This means the combined HST, including the federal Goods and Services Tax (GST) of 5%,...

Starting a business in Canada is an exciting yet challenging endeavor, especially when it comes to tax planning. Effective tax strategies can save startups and entrepreneurs a significant amount of money, allowing them to reinvest in growth and innovation. As we look...

As a freelancer or contractor in Canada, maintaining good financial records is crucial to keeping your business organized, compliant, and ready for tax season. Bookkeeping is not just about managing your income and expenses; it also ensures that you have accurate...

If you’re considering starting a Shopify store in Canada, understanding the tax requirements, allowable deductions, and legal considerations is crucial to running a successful e-commerce business. Whether you’re selling products or services, it’s essential to know...

Starting a home daycare in Canada can be a rewarding business opportunity, especially with the growing demand for childcare services. However, like any business, it’s important to understand the tax requirements, government permits, and allowable deductions that come...

Growing a small business can be challenging, and securing the necessary funds is often a major hurdle. While loans are a common option, grants and tax credits offer alternative avenues for financial support. Let's break down the basics of these funding options. What...

Owning a vacation property in Canada can be a dream, but it's essential to understand the tax implications to prevent unexpected costs. Let's break down the key tax considerations for both buying and selling a vacation home. Buying a Vacation Property Property Taxes:...