Keep an eye out for letters from the CRA regarding your 2020 payroll filings. If the PD27 filed for 2020 does not include details of the 10% Temporary Wage Subsidy (TWS), a revised PD27 with those details will need to…
Please note the following important dates are estimates only. Please confirm your deadlines directly with your professional advisor. September 15, 2021- August payroll remittances due September 30, 2021- Fiscal year end June 30th, 2021 tax payments due September 30, 2021 …
“Give a child a fish and she will eat for a day. Teach a child to fish and she will eat for life.” – Anon. Teaching your kids about money at an early age builds a foundation for the knowledge,…
Administering payroll within an organization must be done diligently, requiring accuracy and timely processing. Both your employees and the government will need to be paid on time and for the right amount. While a business has many components that require…
Using a professional accounting firm to prepare your financial statements and tax returns is always a good idea, however when considering what firm to use, there are some areas to consider that set some firms apart from others. Knowledgeable Regular…
CRA will issue T4As to COVID-19 CERB and CRB recipients Canadians will begin receiving T4A slips from the CRA for these benefits to support their tax filing. The T4A is virtually identical to the T4 slips Canadians are used to receiving from…
Surplus stripping is back in the news with recent changes to legislation. This makes it imperative to understand past court decisions on this matter. Surplus stripping allows a taxpayer to receive funds that that have been earned by a corporation…
Generally, probate fees are not be a planning priority in Alberta because fees are nominal (ranging from $25 to $400). However, if an individual who lives in Alberta and has property in another province (or outside of Canada) or is…
As we gear up for back to school for the little ones, it is important to prepare for the years after graduation. If you anticipate your children will attend post-secondary education, planning for this costly period should be done years…
There is a window of opportunity for tax savings when transferring a business to a corporation owned by your child or grandchild and being allowed to claim the lifetime capital gains exemption before amendments are proposed to Bill C-208. Bill…