As 2025 unfolds, businesses in Canada should prepare for several significant tax changes introduced by the Canada Revenue Agency (CRA). These updates, effective this year, aim to streamline processes and ensure compliance with evolving tax regulations. Here's a...

The 2025 tax season is fast approaching, and several updates will shape the financial landscape for individuals and businesses. Staying informed can ensure accurate tax planning and compliance. Here's a breakdown of the key changes to watch for this year. Adjustments...

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...