Please note the following important dates are estimates only. Please confirm your deadlines directly with your professional advisor. March 15, 2021 - February payroll remittances due March 30, 2021 - Trust filings due March 31, 2021 - Fiscal year end…
By Fahad Suleman, CPA Benefits: An employee has received a benefit if an employer pays for or gives something that is personal in nature directly to one’s employee or to a person who does not deal at arm’s length with…
The following is taken from the CPA Series on Financial Literacy Acquire tax smarts Contrary to popular belief, the Canada Revenue Agency, or the CRA, does not create tax law, nor are they the final and absolute word when it…
The following is an extract of chapter 4 of the paper ‘A critical analysis of the revised interpretation of section 84(2) and the impacts on pipeline planning in estates, trusts and reorganizations resulting from MacDonald’ written as part of the…
A personal directive is a document that provides instructions for the personal care and/or health care decisions by the person who makes the directive. The instructions in this document are often referred to as a living will and appoint a…
Section 86 allows for the exchange of shares within a corporation. Corporations are permitted to exchange all of the class of shares for an entirely different class of chares through this section without incurring a tax liability for the corporation…
Caring for someone with a physical or mental impairment who is dependent on you is challenging. The caregiver credit provides some support if you find yourself in this situation. Who Can Make the Claim? This claim is for individuals who…
Separation and divorce is a challenging process and can be convoluted when it involves costs for child and spousal support. Understanding the tax treatment of how funds are distributed may have an impact on your decisions. Qualified Support Payments A…
Buying your first home is an exciting milestone. While some of the financial aspects could be daunting, there is a simple credit that should be considered when filing your personal tax this year. Qualifying for the Credit The following conditions…
The adoption process is at times lengthy and costly. You can claim adoption expenses on your personal tax return. You need to be aware of the expenses that are eligible along with the adoption period. How Much Can You Claim?…