In January 2022, the government introduced an unused housing tax in an attempt to reduce the level of property speculation and restraint foreign housing investment. This tax affects homeowners with vacant or underutilized homes who must file an annual UHT return with...
Selecting an appropriate business structure is a crucial first step in starting a business. Location, staffing, advertising, and financing are all important, but what legal structure your business should take is equally significant. The three basic business structures...
Economic volatility has been significant over the past year as a result of COVID-19 developments and rising inflation. As a result, while submitting income tax returns in 2023 and after, Canadian taxpayers need to be aware of a number of changes. To make things...
The tax season arrives in Canada, you’ll see that many people rush to complete their taxes at the last minute or hire a professional, such as an accountant, to do it for them. Most of the time, what you might think qualifies you for a tax deduction only...
Understanding the tipping regulations that apply to the hospitality sector and how tipping may affect your business’ books for accounting and tax filing purposes is essential if you own or operate a restaurant. In Canada, it is illegal for a company’s...
For a small business, the end of the year might be one of the busiest times as they try to organize their accounting issues. You need to finish several small and large activities to ensure that your company is prepared for a new beginning in the coming year. The...
