Year-End Tax Planning

In Canada, there are a number of strategies that could be followed to reduce the tax burden by legitimate means. Click here for more


First-Time Home Buyer's Credit

This is a tax credit based on $5,000 for first-time home buyers, An individual is defined as a first-time...Click here for more


Ontario HST

The new Ontario 13% HST becomes effective on July 1, 2010. It is not too early to start thinking about how harmonization will affect your business. Here are some things that all businesses, not just Toronto Chartered Accountants, need to consider as July 1 approaches: Click here for more


Home Renovation Tax Credit

The home renovation tax credit pertains to work performed or goods acquired after January 27, 2009, and before February 1, 2010. Costs incurred during January 2010 can be claimed on the 2009 income tax return...
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Tax-Free Savings Account (TFSA)

This plan permits the account-holder to save money outside of the RRSP plan without incurring any tax on interest or capital gains earned on these funds. A corporate Chartered Accountant should be consulted for specific situations, but the following is a summary of the major highlights of this plan:
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Business Fraud-what to watch for

Business fraud is much more widespread than many people think, causing annual losses in the billions of dollars in Canada. It can be conducted by employees, managers, officers, directors, suppliers, competitors or customers. Here are some of the "red flags" to watch for:
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Associated corporations

There are various tax implications of associated corporations. Two companies are associated if one controls the other, both are controlled by the same person or corporation, or both are controlled by the same group of people.
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Tax filing deadlines and penalties

The CRA has a whole assortment of tax filing deadlines and penalties, some of which are more severe than others depending on the particular circumstances. For example...
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Capital gains and losses

A capital gain refers to a gain from the disposition of property that would not otherwise be included in ordinary income. Some other categories are excluded from the definition of capital gain, for example...
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Registered Education Savings Plan (RESP)

These plans are an incentive program to encourage people to accumulate savings to provide for the post-secondary education of children or grand-children. The main features are as follows:
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Home Office

Many small businesses find it convenient to work from home and also take advantage of the tax breaks. All costs related to maintaining the home can be prorated to the space...
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Tax Planning for Individuals

We should all pay our taxes- but with some planning, we can avoid paying more than we have to this is what Tax Planning is all about.
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